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brownish orangy Pink vs brownish Pink and Orangy Pink

  The importance of the second color moderator in estimating a diamond's value (Part I)

The Gemewizard team
September 10, 2014


In past articles about colored diamonds, where we discussed the effects of color on their prices, we always limited our focus and analysis to diamonds displaying not more than two colors - the main body color of the stone (e.g., Yellow, Green, Pink, etc.) and a secondary sub-hue which we called a color moderator (e.g. greenish Yellow, orangey Pink, etc.).

However, some colored diamonds possess a third color in their grading reports. These third colors, referred to as second color moderators, may either be brown, brownish, gray or grayish. They occur in diamonds with lower saturation, in all of the fancy color grades, with the exception of Fancy Intense and Fancy Vivid. Generally, the brown tint is found in diamonds with warm body colors (such as Yellow, Orange, Pink, Red, etc.), while gray is found in the cooler colors (Blue, Green, Violet).

In this two-part article, we shall explore the effects of these second moderators on the overall appearance and value of the stone. Part I will focus on the brown moderators, while the grays shall be the subject of our Part II article.

For this task, we have fine-tuned our new and extensive database, comprising $420 million worth of colored diamonds offered online, to sort and compare the items according to their listed moderators.

From inspecting the diamonds of various body colors, which include brownish and brown second moderators, we found that each moderator has a different influence on the overall appearance of the diamonds.

Gems with a brownish second moderator display a very slight to mild effect on the diamond's overall appearance. The brownish moderator occurs in all lower saturation fancy grades - Fancy Light, Fancy, Fancy Deep and Fancy Dark.

In contrast, although the brown is listed as the third color, its effect on the overall appearance of the stone is distinct. Diamonds with a brown second moderator display a darker and/or deeper color, resulting in Fancy Deep and Fancy Dark grades.

The influence these moderators have is even more significant when it comes to pricing. After analyzing the data, we discovered that the existence of a second brown/ish moderator imposes a dramatic negative effect on the diamond's value. It appears that sellers tend to bestow a higher priority to the third color (i.e. the second moderator) rather than the first moderator. In fact, when pricing a colored diamond with two moderators, the sellers usually choose to completely ignore the first moderator!

The following example may somewhat clarify this issue. Consider a diamond seller who is pricing a fancy brownish orangey Pink diamond. Instead of relying on the fancy orangey Pink price (which is approximately $50,000 per carat) and adding a "brownish discount" to the price, we discovered that he would consider the fancy brownish Pink price (which is about $15,000 per carat) without considering the orange secondary color at all.

The same thing occurs with a fancy greenish Yellow stone. A fancy brownish greenish Yellow diamond will be priced according to the fancy brownish Yellow price (around $5,150 per carat) instead of the pure fancy greenish Yellow one ($6,650 per carat).

In light of these findings, it is a small wonder why sellers' prefer diamonds with no more than two colors. In addition, with so much value at stake, it may explain the number of challenges to grading reports containing a brown second moderator.

In our next issue we shall explore the effect of the gray and grayish second moderators. Stay tuned.

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