Colored diamonds are created both naturally in the ground over thousands of years and artificially in a lab using technology to treat uncolored diamonds. Naturally created colored diamonds are rare and expensive, while artificially created diamonds cost much less and are regularly available at jewelry stores.
Naturally colored diamonds are created deep within the earth by different forces. High heat during the compression phase of rock formation and the introduction of other elements, such as hydrogen, boron and nitrogen, in the usual carbon chain can create many different colors of diamonds, while radiation deep within the earth is known to create blue- and green-colored diamonds. The most common naturally occurring colored diamonds are black, gray and brown, while the most rare are red, purple and orange.
As of 2014, the general price of naturally colored diamonds ranges from $2,500 to $1,500,000 per karat. The type of color, vibrancy of the color and size of the stone all affect the price of a naturally occurring colored diamond.
Artificially created diamonds are created in a lab and use technology to turn diamonds with a yellow or brown tint into colored diamonds. These diamonds are exposed to radiation and high-heat in order to produce different colors. This process creates blue, purple, yellow, green and other color diamonds for purchase at a more affordable rate than that of naturally occurring ones.