The highest color grade for a diamond is “D”. “D” color diamonds are very rare and not commonly found in traditional jewelry. Most diamonds used in jewelry have a slight presence of color.
It is possible for diamonds to have a very high concentration of desirable color. These diamonds are known as “Fancy” and can be found in a wide variety of colors including yellow, green, pink, blue, and the rarest of all, red.
Diamond color rating is the one aspect of diamond grading that is done exclusively with the naked eye. Using a colorless lightbox, gemologists grade the color of a diamond by comparing the stone to other stones in a master set of diamonds of known qualities. For example: if a stone is to be graded G, it is compared to an F, a G, and an H color diamond to find the stone it most closely resembles.
Since diamond colors are graded by the unaided eye, it stands to reason that color is one of the primary concerns you should have when buying a diamond. It is a lot easier to forgive a diamond clarity grade with inclusion that is only visible under magnification than it is to forgive a brown or yellow stone.