May 22, 2007 / 4:11 AM / 12 years ago

Blue Nile to sell colored diamonds on Web site

NEW YORK, May 22 (Reuters) - Online jewelry seller Blue Nile Inc. NILE.O said on Tuesday it would start selling naturally colored diamonds, which are rarer and typically more expensive than their traditional colorless counterparts.

It will initially sell about 35 colored diamonds through its Web site, ranging from the relatively common yellow and brown diamonds to rarer purple and red ones, it said.

Seattle-based Blue Nile said it would also have access to more than 1,000 colored diamonds to fulfill individual requests.

Only one diamond in 10,000 possesses natural color, which could occur due to the presence of elements like nitrogen or boron, or due to extreme pressure during formation, according to the New York-based Natural Color Diamond Association.

Famous hued diamonds include the blue Hope Diamond housed at the Smithsonian Natural History Museum in Washington D.C., and the pink diamond that shot to fame after actor Ben Affleck gave a pink diamond ring to former fiancee Jennifer Lopez.

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