Is a diamond with VS clarity and G color more expensive than one with the same clarity but of H color?

Answer

Yes. The whole purpose of the color alphabet is to identify the intensity of the color.

Answer

Not necessarily - while a higher color is usually more expensive, if the lower color grade diamond is cut to much better standards, then it can be more expensive but of lesser color.

Cut is very important as it controls the brilliance. When a diamond cutter has to cut a piece of rough, they have to balance the final carat weight with how beautiful they want to make it. Example, compare the cost of a regular round brilliant versus a hearts and arrows cut round brilliant. The hearts and arrows will be noticeably more brilliant, but also more expensive.

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