With the purchase of this unusual, 20.65-carat Fancy Intense Yellow, IF clarity (internally flawless) diamond by C.D.Peacock, Chicago's premier jewelry store plans to try to change the way people in America think about fancy colored diamonds -- many people still don't even know there is such a thing as a fancy colored diamond.
According to Ray Perlman, a consultant to C.D. Peacock and former Chairman of the Board of the New York Diamond Dealers Club, most people have no idea that diamonds occur in a color other than colorless (white). Yet, notes Perlman, when asked to identify the world's most famous diamonds, most people will name the Hope Diamond which is Fancy Dark grayish-blue, and the Tiffany Yellow which is golden yellow. It is also true that some fancy colored diamonds have been valued higher than colorless diamonds of the same size. Take for instance the 0.95-carat fancy red round brilliant that set the world record, price-per-carat for diamonds. It went for $880,000 at Christies NYC. That comes to about $926,000 per carat. But then again, red and purple diamonds are the two rarest colors. The stone is now called the Hancock Red.
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