Blue Nile Enters Fancy Colored Diamond Market

Online diamond retailer Blue Nile has launched its fancy colored diamond collection. Approximately 90 fancy colored diamonds, worth $4.5 million, will be available on the company’s website. In addition, Blue Nile says it will also have access to more than 1,000 fancy colored diamonds not displayed on the site to fill individual customer requests.

"Historically, fancy colored diamonds were limited to an elite few," said Blue Nile CEO Mark Vadon in a press release. "Because of the value, access and selection we provide to consumers, fancy colored diamonds are now available to everyone."

Blue Nile promises that prices for fancy colored diamonds, which will be available in colors such as orange, pink, cognac, yellow, green, and red, will surpass the 20 to 40 percent savings consumers normally receive at Blue Nile.

Prices for a fancy colored diamond will start at $2,250 for a half-carat cognac diamond while a green diamond will retail for $160,380.

The retailer is also offering a 0.55 carat red diamond for $350,000, or a 3.65 carat pink diamond for $650,000.

Blue Nile will create customized settings according to each diamond's individual shape and color. Due to the complexity of setting fancy colored diamonds, delivery will take approximately three weeks. Loose diamond orders will be shipped via FedEx Priority Overnight in most cases and received the next day. As with all Blue Nile orders, shipping is free.