Fancy Color Research Foundation Launching First Industry Rarity EvaluatorSeptember 17, 16
(IDEX Online) – 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 FCRF said the evaluator provides proprietary rarity estimates for all yellow, pink and blue fancy color diamonds based on the diamond’s carat weight, color, color intensity, clarity and shape. It will provide 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.
"In recent decades, fancy color diamonds have been sold with a grading lab report, such as that of GIA, the FCRF said in a statement. "While the report provides important information concerning the diamond’s physical traits it does not provide information about rarity. Collectors and investors have depended on qualitative information from miners, auctions houses, retailers and wholesalers to obtain rarity information. The FCRE™ adds an essential tool for collectors that goes beyond the grading lab report by documenting, analyzing and processing this significant factor."
Partnering with select high-end jewelers, the FCRF is planning to introduce Rarity Certificates that will accompany select diamond jewelry pieces in the fourth quarter of this year. The FCRF believes that the transparency and information will enhance consumer appreciation of the fancy color diamond segment, and promote further adoption, it said.
The FCRF began to develop the evaluator at the request of jewelers and institutional investors for high quality rarity data. Since fancy color 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 analyze and process this data.