shape
carat
color
clarity

Is it true that AGS is less strict on color compared to GIA?

Maybe there should be a plus minus system—like academic grades—adjust the price accordingly
 
adjust the price accordingly

This is one aspect I've always loved about Fancy Colored Diamonds.....if we compare two GIA graded Fancy Intense Yellow stones.
Assume they are similar size and cut.
One is a VVS1 with a pretty weak color- borderline Fancy Yellow.
The other is a VS2 with strong color- near vivid....
The second stone will generally be priced higher than the first, in spite of the clarity advantage of the lighter stone.
 
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