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Colored diamonds are known as fancy diamonds in the jewelry trade. Fancy diamonds are diamonds that have a cut other than the traditional round brilliant cut. Fancy cuts include a wide range of different shapes such as the Heart, Oval, Princess, Asscher, Emerald, and Marquise Diamond. Fancy diamonds cost less than round brilliant-cut diamonds. Fancy Diamonds is an excellent option for those who want to buy a large diamond without the high cost. Fancy Diamonds can be of any color and cut. Fancy Diamonds are used in proposals, engagements, and wedding rings as well as in other types of gems.