The premise for RoughPrices.com is that diamonds (rough and loose polished diamonds) are a commodity.
U2 Diamonds Limited which publishes PolishedPrices.com on Bloomberg is a 30% owner of RoughPrices.com, the other shareholders are individuals from WWW International Diamond Consultants Limited (WWW). Some equity has been set aside for those companies that agree to provide information on pricing.
The aim of RoughPrices.com is to provide a multiple sourced rough price list which will provide a genuine reflection of current market prices.
There is no common format for a rough price list. RoughPrices.com has used as its base a modified version of the WWW International Diamond Consultants Ltd (www.diamondwww.com) format which it uses for its market valuations for inter alia its work valuing all current exports of rough diamonds from Canada for royalty purpose for the Federal and Ontario Governments. This amounts to approximately $1.5 billion of rough diamonds per annum.
No one working for Rough Prices Ltd, WWW or U2 Diamonds buys or sells rough or polished diamonds.
Charles has been in the diamond industry for over 30 years. He was a director of the CSO, De Beers' selling arm, before deciding to leave De Beers to set up his own diamond businesses in 1995.
He is co-founder of WWW International Diamond Consultants Ltd and is engaged in related businesses, mainly with others whose skills are based on the company's expertise in technology, the gathering of detailed market information and a wide range of contacts.
The key of his success is the true independent nature of his business and the contacts with which he is involved. Charles is a director of Diamonds International Canada (DICAN) Ltd. DICAN is a joint venture between the Aboriginal Diamond Group (ADG) and WWW, and since 1998 has been the Government Diamond Valuator for the Federal Government of Canada and now for the Government of the North West Territories. It also acts as the Government Diamond Valuator for the Government of Ontario. A full list of the clients of WWW may be found on its website www.diamondwww.com.
Charles holds an MA in Jurisprudence from Oxford University.
After graduating with an Honours degree in Statistics from the University of Wales Institute of Science and Technology in 1979, Richard worked for De Beers for 22 years, before leaving to take over WWW Diamond Forecasts Ltd.
He studied diamond polishing under the tutelage of Gabi Tolkowski, and used this knowledge to write the mathematical models used for describing the manufacturing process. He has unique experience of modelling consumer behaviour and was responsible for creating De Beers pricing scenarios. He is a Fellow of the Royal Statistical Society and is currently studying for a PhD in statistics.
Richard is responsible for creating the indices and all related data issues for polishedprices.com’s diamond prices.