Menahem Sevdermish, the principal of GemeWizard, delivered a presentation at the Israel Diamond Exchange (IDE) yesterday in which he outlined the GemeWizard program and its latest addition - GemeFancy.

"Unlike 'white' diamonds, where there is an established system for grading color, the system to describe and communicate colored diamonds is somewhat vague, with no clear rules," Sevdermish said. "The trader rarely has the ability to grasp the full scope of colored diamond colors and grades."

The GemeFancy™ is a digital colored diamond master which enables diamond professionals to recognize the relative location of colors within the fancy diamond color range and to accurately identify color. The program allocates values to fancy diamonds color variations through the use of standard terminology and the GemeWizard alphanumeric Color Code. Users, from gemology students to diamond appraisers and jewelers, may communicate a diamond’s fancy color by sending specific Gemewizard images via Gememail.

Sevdermish noted: "The GemeFancy pricing system is groundbreaking, not only because of the ease and accuracy with which users can define the price of the diamond they are examining, but also because of the scientific method by which we collect and collate the pricing data."

He stressed that the system is operated not by parties with an interest in setting prices, but rather by information technology people who deal only in gathering data and creating a price list from it. He added that the prices can not be altered since the system is independent, running on the data that it receives.