Any professional in the diamond and jewelry industry will tell you that Fancy Color Diamonds account for one in every 10,000 unearthed diamonds; a simple Google search will support this foregone conclusion. The FCRF decided to track down the source of this widely-quoted statistic, when and how it came to be the only number used, and the importance of rarity figures to the end buyer.
The issue of Fancy Color Diamonds’ rarity has never really preoccupied the geological community. This may be because the industry relies on rough numbers, so it may not be necessary to chase down these elusive figures.
Hypothetically speaking, to come up with a rarity estimate of fancy color rough diamonds, a
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