Do Black Vinyl Records Sound Better than Colored Vinyl?

In short: no. All vinyl records are manufactured with heated PVC pellets that are colored various ways. The exception to this is clear records, which are made from uncolored pellets. Some writers argue that the carbon which is used to color black vinyl produces better fidelity than the dyes used for other colors (some of which cause static). However, the consensus seems that the quality of manufacturing has overcome that obstacle.

As record collectors, we constantly make tradeoffs in our decisions about what to add to our collection. Is an original pressing worth more to us than a newer pressing with better sound quality? Is an import version with a different track listing cooler than a regular pressing with a unique misprint on the cover?

There are no objective answers to questions about motivations for record collecting. There are as many valid reasons to collect records as there are collectors. So go ahead, buy that weird triangular picture disc that sounds like garbage. It will spark a conversation every time you show your selection of albums to a fellow collector. And isn't that just as good as listening to perfect fidelity alone?