Following five years of data collection, analysis and platform development, the Fancy Color Research Foundation (FCRF) is launching the first ever industry Fancy Color Rarity Evaluator (FCRE).
The FCRE provides proprietary rarity estimates to all yellow, pink and blue fancy colour diamonds based on the diamond’s carat weight, colour, colour intensity, clarity and shape. The FCRE then gives a range estimate for the number of such diamonds unearthed in mines each year and will allocate them a ‘rarity level’, from common to super-stone.
Partnering with select high-end jewellers, the FCRF is planning to also introduce rarity certificates that will accompany select diamond jewellery pieces in Q4 2016. The FCRF believes that the transparency and information will enhance consumer appreciation of the fancy colour diamond segment, and promote further adoption.
Response from the trade to the FCRE has been very positive so far. Nicole Snitman, vice president of guildhall diamonds, says: “We really like the rarity tool on the FCRF site. It has been quite beneficial for us when we are selling a diamond because we can visibly quantify to our clients just how valuable these diamonds are. An ‘exceptionally rare’ rating on a report is so rewarding to see from such a trusted industry source as the FCRF. The rarity tool is the missing piece of the equation.”
The FCRF began to develop this at the request of jewellers and institutional investors for high quality rarity data. Since fancy colour diamond rarity data had never been institutionally documented in the past, the FCRF began to systematically collect supply information from leading miners and grading labs and to analyse and process this data. After more than five years of development the FCRE is now being launched.
FCRE can be accessed n the FCRF’s website. Once logged in, the user can either input a GIA grading certificate number or manually enter the diamond’s carat weight, color, color strength, shape and clarity. The FCRE will process the data and provide a detailed output, highlighted by the diamond’s rarity level.
To mark the launch of the FCRE the FCRF will allow free access for five days.