Historically, strongly blue-fluorescent diamonds were admired for the way they could appear exceptionally white and luminous. The diamond trade later became more cautious, partly because the term “blue-white” was misused to imply superior quality and was eventually restricted by the U.S. Federal Trade Commission in 1938. Over time, fluorescence became less associated with connoisseurship and more with grading discounts, especially in the certificate-driven modern market.
Yet famous diamonds show that luminescence has always belonged to the mythology of important stones. The Hope Diamond, one of the world's most famous blue diamonds, is celebrated not only for its colour and history, but also for its extraordinary red phosphorescence after exposure to short-wave ultraviolet light. The Smithsonian describes this red afterglow as one of the Hope Diamond's distinctive properties.
The Portuguese Diamond, a 127.01 carat diamond in the Smithsonian collection, is another historically important example associated with very strong blue fluorescence. GIA describes it as M colour, VS1 clarity, with very strong blue fluorescence, and notes that it has often been cited in discussions of “overblue” diamonds.
In colourless and near-colourless diamonds, fluorescence can affect market pricing in different ways depending on colour grade, transparency and trade perception.
In fancy colour diamonds, the logic is different. Their value is driven primarily by the beauty, rarity, hue, tone and saturation of their colour as seen face-up in daylight. GIA explains that for fancy colour diamonds, the rarest and most valuable colours are those with strong saturation, and even slight colour differences can have a major impact on value.
Many coloured diamonds can fluoresce, but fluorescence does not define their market value in the same way. A pink, yellow, blue, green or orange diamond must be appreciated first by eye, for the beauty and rarity of its colour in daylight. Fluorescence may add fascination, character or a second dimension under ultraviolet light, although the essential value of a coloured diamond remains its visible colour, rarity and overall beauty.
Katerina Sibilia takes a gemmologist and connoisseur's view. A fluorescent diamond with beauty, transparency, intensity and character is rare. Its value lies in the quality of the stone, the beauty of its glow and the way it is used in the jewel.
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