Champagne diamonds, sometimes called brown diamonds or chocolate diamonds, are actually tainted white diamonds that feature a hay or cognac coloring.  What is the difference between yellow and champagne diamonds?  Yellow diamonds have more of a canary coloring and virtually no brownish tint.  Champagne diamonds are not usually referred to as yellow diamonds because they often exhibit a warmer, slightly browner, or even orange-ish, coloring.  The depth of this color varies from stone to stone; some may look yellow, while others appear more brown.  The diamond grade for champagne fancy diamonds go from C1-C7.

C1 and C2:  light champagne
C3 and C4:  medium champagne
C5 and C6:  dark champagne
C7          :  cognac or brown

These stones are valued according to the same guidelines as white diamonds.  It is important to consider cut, clarity, color, and carat weight when purchasing a champagne diamond.  Because they are technically tainted white diamonds, champagne diamonds are often less expensive than white diamonds.  This could help you budget for a much larger stone with a great cut and superb clarity. 

Although they aren't as expensive as many other diamonds, champagne diamonds are no less stunning.  Especially when set next to white diamonds, the rich color offers a less traditional alternative to most engagement rings.  Champagne stones tend to radiate a warmer glow on the finger, as opposed to the icy shine of white diamonds.  

The Argyle mine in Australia is the world's leading producer in champagne diamonds.  The term “champagne” comes from the Argyle mine's attempt to identify the brown diamonds in a more exotic way.