Buying A Diamond On DiaEx, Making Self Purchase
The DiaEx diamond exchange is designed to accept both, B2B and B2C transactions. Interestingly it is not just professional diamond buyers who would benefit by trading on the platform. Casual buyers looking to buy a glittering stone for themselves or for someone very special, would also feel safer on the DiaEx exchange.
Before we talk about the DiaEx platform, let us peek at what inexperienced diamond buyers have to face today. The first point of contact for casual diamond buyers is the jewelry store, this is a place where the price of a diamond could be inflated by as much as 30% to 40%. The flashier the store and the more expensive the location, the more you pay for the diamonds!
Stores buy their diamonds through brokers and in many cases, there could be a chain of middlemen in between the actual diamond seller and the stores. No one works for free and each broker, adds his share of profit before, passing the glittering stone down to the next in line. The store itself would add a hefty margin depending on, the location of the store and its general clientele.
DiaEx insists on every listed diamond being certified but, this is surely not true of jewelry stores. It is very likely that a casual buyer, would not be aware of the importance of diamond certification. Sellers are known to overstate the features of the diamonds that they sell, this to quote a high price for the stones. While not all diamond sellers are bad, there are occasional cases where, fakes are sold as ‘real’ diamonds.
The issue of synthetic diamonds has confused both, professional and novice diamond buyers. Marketing hype claims that, synthetic diamonds are as good as natural diamonds. The issue has been further complicated when, GIA and other testing labs have agreed to certify synthetic diamonds. Debeers once the main pillar of the diamond industry, now openly claims that it would be trading in synthetic diamonds. Being factory made, synthetic diamonds have shown a steady decline in price. At the time of writing this report, synthetic diamonds are at least 80% cheaper than their natural counterparts. Expect this decline to continue as, production costs drop and the technical aspects related to the manufacture of synthetic diamonds are more widely understood.
DiaEx insists on certified diamonds, it is only natural diamonds that can be listed, this rules out synthetics and fakes. Diamonds are graded based on the universally accepted 4C (carat, cut, color and clarity) parameters. Diamond sellers can overstate 4C values to quote a higher price for their stones. A certificate from a reputed testing lab, provides an accurate and unbiased description of the stone. This is something that imparts confidence to buyers at all levels.
The DiaEx diamond exchange is scheduled to be launched in the last quarter of 2018. Stay tuned for videos and detailed guides that will explain the entire trading process on the platform.