The Fancy Color Research Foundation was established to enhance fancy color diamond knowledge and increase transparency through education for a specialized and distinguished niche in the diamond industry. The goal of the FCRF is to conduct and share research, exchange ideas and cultivate a global appreciation of fancy color diamonds.
Initiated in 2005, the FCRF began tracking and documenting the prices of fancy color diamonds. Almost ten years later, this data is now the engine of an Index: the first Fancy Color Diamond Index based on exclusive, refined, real-time data in the history of the industry that tracks the prices and market behavior of yellow, pink and blue diamonds from 2005 up to date. The Index will not show prices – it illustrates pricing behavior, expressed in a percentage. We provide these tools to help the industry price fancy color diamonds, as it is impossible to create a fancy color price list.
As the demand for fancy color diamonds continues to rise and the world’s supply slowly diminishes, the skill to properly evaluate these stones is becoming integral to the growth and stability of the industry. In recent years, retailers have witnessed an unprecedented increase in sales; as mines continue to reach their potential, these stones will become even rarer. The FCRF aims to prepare industry members with the knowledge they need to adapt to these rapid and drastic changes in the marketplace.
The growing number of high net worth individuals worldwide – particularly in Asia – has been a fundamental game-changer in the demand for fancy color diamonds. The strength and projected growth of the luxury sector has contributed to the steady, decade-long increase in sales of fancy color diamonds and their ability to withstand market volatility.
While changes in the fancy color market are unpredictable, fancy color diamonds continue to make headlines as auction houses have sold many record-breaking colored diamonds in the past five years. In 2013, a 14.82-carat Fancy Vivid Orange pear-shaped diamond sold for $34.54M at $2.4M per carat, the most expensive diamond ever sold at auction by Christie’s for price per carat. The foundation is planning to conduct further research on auction related sales and trends.
The FCRF was established to guide the wholesaler, retailer, buyer and miner through the proper valuation process. Led by a highly-valued and experienced board of advisors and a team of researchers, writers, gemologists, diamond experts and retailers, the foundation is equipped with knowledge and expertise from the entire diamond industry value chain.
Foundation members will have access to fancy color diamond research, periodical articles and innovative digital tools. The FCRF’s profits will be re-invested in further research and education programs and proceeds will be donated to the Make-A-Wish Foundation.