The Colbys was originally titled Dynasty II: The Colbys of California, later shortened to Dynasty II: The Colbys, and finally simplified to The Colbys.

The series was created as a spin-off of Dynasty, then the #1 rated show in the US, and was given an extremely high budget with the intent to surpass its predecessor in opulence.

Before the final cast was set, Doris Day, Burt Lancaster, and Katharine Hepburn all reportedly turned down roles in the series, and Faye Dunaway, Angie Dickinson, Elizabeth Ashley, and Diana Rigg all turned down the role of Jason's wife Sable.

Elizabeth Taylor publicly stated in 1985 that she would not be appearing on either Dynasty or The Colbys, despite rumors.

Barbara Stanwyck had a clause in her contract stipulating she would not be required to do press interviews, and she later left the show after season one, reportedly calling it 'a turkey' and 'the biggest pile of garbage' she ever made.

Dynasty star Joan Collins categorically refused to ever appear on The Colbys, believing it would cause 'massive confusion between the two shows.'

The family's palatial Bel Air mansion, The Belvedere, was filmed at the 13-bedroom, 15,110-square-foot Jay Paley House in Holmby Hills, then owned by business magnate Barron Hilton, with the attached stables filmed at Will Rogers State Historic Park.

Charlton Heston, an old friend of President Ronald Reagan, personally phoned him to ask that a televised presidential speech preempting the second episode be rescheduled, but the request was unsuccessful.

In December 1986, Heston sent co-star Maxwell Caulfield a letter admonishing him for unprofessional behavior on set, while praising the rest of the crew as 'the best I've worked with in 30 years.'

The Colbys won a 1986 People's Choice Award for New Dramatic TV Program, but its first season still finished only in 35th place amid competition from NBC's Cheers and Night Court.