New York: 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 color diamonds based on the diamond’s carat weight, color, color intensity, clarity and shape. The FCRE™ 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.
Fancy color diamonds have long been valued for their unique physical traits and rarity. In recent decades, fancy color diamonds have been sold with a grading lab report, such as that of GIA. 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 Q4 2016. The FCRF believes that the transparency and information will enhance consumer appreciation of the fancy color diamond segment, and promote further adoption.
Response from the trade to the FCRE™ has been very positive. Nicole Snitman, Vice President of Guildhall Diamonds said, “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 important tool 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. After more than five years of development the FCRE™ is now being launched.
FCRE™ can be accessed at www.fcresearch.org/rarity. 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. The output can be saved or shared.
To mark the launch of the FCRE™ the FCRF will allow free access for five days. For complimentary access, contact Ms. Kim Levy kim@fcresearch.org. Thereafter, access will be limited to FCRF annual members.
