Colorful precious and semiprecious gems are surging in popularity. Rubies, sapphires and emeralds are taking over territory that used to belong exclusively to diamonds such as engagement and wedding jewelry, while pendants and bracelets take on vivid colors thanks to a scattering of semiprecious stones. Picking quality colored gemstones requires knowledge of the "five C's": color, coverage, clarity, carat weight and cut.

A rich, deep color that fits a gem's archetype draws the greatest price. Vivid green emeralds, rich red rubies and deep blue sapphires are typically more sought after than pale or faintly colored stones. Some stones come in more than one color; when this is the case, one shade is usually more highly prized. For example, sapphires come in green, pink, blue, yellow and clear white, but only twilight blue sapphires are considered precious gemstones.If you love pink sapphires or pale green emeralds, wear them with pride and enjoy the discount you're likely to find on these less traditional stones. The gems' resale value will be lower, but personal taste should always be your guide when choosing jewelry.A few stones have more than one color. Alexandrite changes its hue depending on the light that hits it, going from red to green. Opals also have more than one color. With these rare gems, the intensity of the multiple colors enhances the stones' value.