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Colour Me Fancy!
New Index by The Fancy Color Research Foundation
By: Diamond World News Service
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Jun 29 2015 5:31PM
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Reference: 11637  

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In 2014, The Fancy Color Research Foundation (The FCRF) launched new price trend index, which identified fancy colour diamonds as stable and high class growth asset class against the volatile global market. KavitaParab spoke to Eden Rachminov, Chairman of FCRF Board of Advisers, to know more about the foundation and the price trend index.

Initiated by Eden Rachminov, The Fancy Color Research Foundation was officially launched in 2014, along with the new price trend index. Eden Rachminovis the author of The Fancy Color Diamond Book and winner of the National Color Diamond Association (NCDIA) education award.

Need for the Formation
The Foundation has been formed to promote fair-trade, ethics and transparency in the fancy color diamond retail, wholesale and mining, industry, commented EdenRachminov. He further added that fancy colour diamonds are an exceptional product that requires deep and extensive knowledge to successfully trade and purchase. By promoting greater understanding of fancy colour diamonds through education, explanation of long term price trends and driving fair trade principles through the value chain the Foundation hopes to benefit the whole fancy colour diamond industry.

Structure and Governance
The Board of Advisors guides the policy and activities of the Foundation.The Board of Advisors for The FCRF comprises leading figures in the fancy colour diamond industry from throughout the value chain including Eden Rachminov, Tom Gelb from the NCDIA, Jim Pound from Dominion Diamonds and Irene Leung, Director of the Gemmological Association of Hong Kong, President of GIA Alumni Association and the General Manager of Bossa Jewellery.

The Board of Advisors is supported by a secretariat that manages the membership and implements the foundation’s initiatives.

On his role in the Foundation…
The foundation was initiated by me. As a non-executive member of the Board of Advisors, I am using my expertise of the fancy colour diamond industry for the benefit of the Foundation. Ambitions and activities of the FCRF will be guided and evaluated by an experienced board of advisors throughout the diamond pipeline. In addition, all tools developed by the Foundation will be verified by expert third parties and the board of advisors benefits from expertise from throughout the diamond value-chain.

Also, I would like to add that there is absolutely no conflict in me being the managing owner of Rachminov 1891, as the Foundation and Rachminov 1891 are totally unrelated from an operational and governance perspective.

Activities
There are three key areas that the Foundation will focus on – firstly, greater clarity of fancy colour diamond valuation and long term price trends with proprietary analysis of over 60,000 fancy colour diamond transactions since 2005; secondly, education through publications and digital tools such as The Fancy Color Diamond Book and upcoming publications that cover the evaluation of fancy colour diamonds and; thirdly, promotion of fair trade through the fancy colour diamond pipeline.

Path Ahead
We have a number of high quality initiatives planned. These will utilise the board of advisors expertise, new technology in the delivery of education and the clarification of long-term pricing trends in fancy colour diamonds.

Foundation and Charitable works
The Foundation’s work will support the Make-a-Wish Foundation, a children’s charity with close links to the jewellery industry. In addition to the charitable activities, the promotion of fair trade through the fancy colour diamond pipeline is also an important aspect of the Foundation’s work.

How is The FCRF different from the NCDIA?
The two organisations are very different. The Foundation is focused on education and understanding of fancy colour diamonds through high quality research, greater transparency and increasing fair trade throughout the value chain. While NCDIA also seeks to deliver education and its aims are more focused on the consumer.

On membership
There are a number of founder members who are listed on the website. The membership packages are on the website. There are no limits to the number of members that the Foundation can have however, we want the members to play an active role in the development of the Foundation’s activities so there is a natural limit to the scale of the membership.

The Fancy Color Diamond Index
This index is a first-of-its-kind tracker of changes in the market prices of yellow, pink and blue fancy colour diamonds; the three most commonly traded fancy colour diamond categories. The index is a composite representation of changes in price points gathered since 2005, based on a statistically significant sample size (over 65,000 diamonds). It offers insight into variations in the appreciation of diamonds of different colours and sizes. Currently, the index includes five primary outputs which are offered free of charge to collectors, retailers and traders:

1. A colour composite fancy colour diamond index (including a breakdown to yellow, pink and blue diamonds)

2. Yellow fancy colour diamond index – which tracks the changes of three yellow saturations (Fancy, Fancy Intense and Fancy Vivid)

3. Pink fancy colour diamond index – which tracks the changes of three pink saturations (Fancy, Fancy Intense and Fancy Vivid)

4. Blue fancy colour diamond index – which tracks the changes of three blue saturations (Fancy, Fancy Intense and Fancy Vivid)

5. A size composite fancy colour diamond index (including a breakdown to the performance of different sized diamonds)

6. Market prices are wholesale transactions taking place in one or more of the global diamond trading centers.

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