The color of a diamond has the second biggest impact on its price, after carat weight. Diamonds come in can come in all kinds of colors. Generally speaking however, grading diamond color involves deciding how closely a stone's bodycolor approaches colorlessness. Most diamonds have at least a trace of yellow or brown bodycolor. With the exception of some natural fancycolors, such as blue, pink, purple, or red, the colorless grade is the most valuable.