TradersDiamonds Business Update – We are selling a large number of matching diamond pairs

TradersDiamonds is close to 5 months old now and a quick analysis of the diamonds that we have sold so far confirms one of our long held beliefs – that when it comes to buying a matching pair of diamonds, TradersDiamonds offers a huge advantage.

Finding a matching pair is a complicated task. Other then the size, colour and clarity, one also needs to match the table, depth and measurements of the two stones. At the same time you are also trying to get the best possible price. So there are a number of optimization and matching exercise which are in play at the same time.

A jeweller has two options. Either he gets a pair from one manufacturer or tries making a pair from different manufacturers. A manufacturer charges a premium when he offers a pre-matched pair. Also by buying a pre-matched pair you are limiting your options. There are thousands of single stones out there which could be combined to make a better pair and come for a better price. It’s like deciding to book a return journey from the same airline and not exploring option with different airlines.

On the other hand the task of trying to match single stones from different vendors is extremely cumbersome. You start by taking the lowest priced stone from the list of one vendor. Now you need to go through all the other lists which you have, trying to find a diamond which matches this one well on all the parameters. As you need to check for around 7-8 parameters, you will constantly need to keep flipping from one list to the other to verify the details. Suppose you can’t find a pair for the lowest priced stone, which happens quite often, you need to repeat the entire process with the next best stone. For a human being this is extremely time- taking. Throughout the world such optimization exercises have been automated and that is what TradersDiamonds also does for you.

TradersDiamonds puts all the diamonds from different vendors in the same table. It has stones from around 4000 manufacturers, including international ones, which is more than what any trader normally has. It also gives you the option of sorting this table using multiple parameters at the same time. (Check out the ‘how to use search’ on the website to learn how to use multiple sort). Thanks to all this, matching diamonds becomes far easier than any manual process. You get a well matched pair at the best possible price.

And now our sales numbers are proving that this advantage in making matching pairs is not just a theoretical argument. Many of the jewellers, who have started buying from us, first became convinced about our value proposition, when we offered them a superbly matched pair at a great price. It’s quickly becoming one of our strongest selling pitches. In terms of actual figures, more than half the business has come from the sale of matching pairs, which is well above what anyone would have expected.

So in case you are still not convinced about TradersDiamonds, try using it the next time you need to find a matching pair. Compare the pair and the effort involved in finding it, with what you would have done otherwise. We are confident that you will soon become a proponent of buying diamonds online. Sphere: Related Content

The TradersDiamonds Market Update – 11/05/2009

GIA and GJEPC sign MOU to promote gemological education

In a wonderful development, The Gemological Institute of America (GIA) and the Gem and Jewellery Export Council (GJEPC) have decided to join hands to promote greater gemological education throughout India. They have signed a Memorandum of Understanding (MOU) to this effect and plan to build a solid foundation to raise the overall gemological education standards in India. They also believe that this effort will help to develop and retain talent in the industry.

The two bodies will work together to develop course content that will set standards and fulfill the education requirements for the Indian gem and jewllery industry. GIA India will introduce and conduct gemology courses at all GJEPC institutes, using well trained faculty able to speak English, Hindi and Gujarati. In addition GIA will admit GJEPC graduates to GIA for higher studies. In return, the GJEPC will actively promote the programmes, obtain the necessary clearances and permission to conduct the courses whenever required.

We at TradersDiamonds.com are extremely pleased with this development. We take every opportunity to educate our customers and have been striving for more informed diamond buying and selling in India. With GIA and GJEPC taking it upon themselves to do the same, our job became so much easier.

News from the Markets

New York

The New York market is picking up slowly. The orders are flowing in at a steady rate but demands are constantly rising. Overall, the demand is far slower than the rest of the world market

The best demand is in the Carat sizes 1.50 -2.00cts in better clarity. Demand for Fancy Cuts in 0.50 carats and above is also increasing.

Antwerp

The Belgium Diamond market is showing great improvement at the trading level. Traders are preferring to conduct more cash transactions because they are very concerned about their ability to collect their payments in the current market environment. But demand is rising steadily and the mood is positive

Demand has improved across the board for stones up to 3.00 carats.

Mumbai

Compared to recent weeks trading levels have shown a large improvement. Demand has been created by local requirements as well by the presence of overseas buyers. But the severe scarcity of goods has resulted in very few purchases.

The best demand is for rounds ranging from 1.00-2.00 carats in G-J colour and VS clarity. Sphere: Related Content