At over $3,500 per carat, a beautiful pale yellow diamond is an excellent buy. The next step up is fancy yellow diamonds, which cost between $4,500 and $5,000 per carat. Fancy bright diamonds may cost up to $18,000 per carat and are extremely uncommon. Brilliantly cut white diamonds are the cheapest form of jewelry stone. They can be bought for less than $100 per carat and sometimes even cheaper. As the price of colored diamonds increases, so does the quality of the color. Colors include pale yellow, orange, pink, red, and brown. The color of a diamond is an indication of its quality and value. The brighter the color, the higher the quality. It is normal for colored diamonds to have similar values as white diamonds of equal size. However, larger colored diamonds are possible but rarely found. Colored diamonds that are too dark cannot be seen with the naked eye, although they can be felt under your finger tips. These special dark diamonds are called "black diamonds" and are only found in small amounts. Their value ranges from $10,000 to $150,000 per carat. Even though black diamonds are rare, they do exist. Due to their high value, black diamonds are protected by law. Diamond dealers must be licensed by state authorities and are not allowed to sell diamonds that weigh more than 4 carats (or 40 millimeters).