Relative Colorimetric simply says that any colour that is in your working space and in your destination space (print space) should just stay the same whereas colours in your working space but not in your print space should simply be reinterpreted to the closest colour which does exist in your print space.
[{POST_SNAPBACK}][/a]I think that this is a good explanation, but I disagree with the following:
This [Relative Colorimetric] will produce more accurate colours for hues which are in both the source space and print space but may produce flat or dull colours for working space colours if they are out of gamut in your printer space as they will be crunched down by this intent to fit them into the print space.
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Relative Colorimetric does not compress colors but merely clips them to the most saturated tone that the printer can produce. This produces saturated colors, but may result in posterization and banding. Perceptual is the rendering intent which compresses colors to fit in the destination space and can cause desaturation.
Perceptual Intent also deals with how to handle the mismatch between colours in the working space and the print space. But it uses a different tactic. Perceptual intent will try to preserve the relationship between all colours including the saturated ones in your work space which will be out of gamut in the printer space by squeezing and altering slightly the entire gamut of colour so as to maintain the overall balance and maintain the original's effect.
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That is true, but unfortunately current perceptual rendering engines are not "smart", that is they compress the gamut by a predetermined amount without actually checking to see if those colors are actually in the image. This is most likely to occur when the image has many saturated colors and is in a wide space such as ProPhotoRGB. Since the source space is converted into the PCS (profile connection space, often CIE L*a*b*), the color engine does not know the source and compression is the same for sRGB and ProPhotoRGB. [a href=\"http://www.steves-digicams.com/techcorner/July_2005.html]Here[/url] is a simple explanation of the above matters.
If you have enough saturated colour in a working space which is outside your print space then Perceptual Intent will do a better job of maintaining the "punch" of an image but at the cost of overall colour accuracy.
If most of the colours in your working space are also in the print space then choose Relative Colorimetric as it will maintain more accurate colour.
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IMHO, you should normally use Relative Colorimetric if you do not have a lot of out of gamut colors and clipping is not bothersome. The print will have more saturation. However, if you have a lot of out of gamut colors, Perceptual may be a better choice, depending on soft proofing and sound judgement. However, rather than maintaining "punch", colors are desaturated. More advanced users may use relative colorimetric and edit the image selectively so that out of gamut colors are smoothly brought into range.
Bill