The Economic Times reports that India’s domestic diamond consumption has doubled from 2% of the total production to 4 % of the value in the course of the last 3 months.
The article attributes this growth spurt to the crash in diamond prices owing to the global economic recession. As a result of the crash, a lot of manufacturers resorted to desperation selling, leading to an almost 15% drop in prices. But that has been followed by an increase in prices owing to a severe shortage of goods. This shortage was caused by the lack of production (owing to unstable pricing) and high rough prices. The growth in consumption, therefore, has happened in spite of this price increase and that makes the increase in demand an even bigger story – for everyone involved in the diamond business in India.
The robust growth is something that every jeweller in India needs to take notice of. The ones who are already doing well in solitaires can pat themselves on the back; for being well positioned to harness the growth, while the ones who are not dealing in diamonds might as well get started before the boom passes them by.
I say solitaires and not just diamond jewellery because the report also mentions that there has been a significant increase in demand for expensive diamonds which are more than 1 carat in size. Diamonds are no longer just an embellishment for the gold jewellery. More and more customers are looking to buy solitaires and big ones too.
So what does it take for a gold jeweller to become a diamond jeweller too?
It takes an inventory of loose diamonds, solitaire designs, a display of pieces, a few artisans who are trained in solitaire setting and a sales force with good knowledge of diamonds.
A gold jeweller can get all of these under one roof at TradersDiamonds without having to spend too much.
With a crest of strong consumer demand to ride and a readymade solitaire solution on offer, has there ever been a better time to be in the business of selling diamond solitaires.
Sphere: Related Content
Monday, June 29, 2009
Thursday, June 25, 2009
TradersDiamonds launches Solitaire Services for Jewellers - a first of its kind, full fledged white label solution to run a solitaire business
TradersDiamonds aspires to be a one stop shop for all solitaire related products and services for jewellers. We took our first step towards that goal by offering jewellers a certified loose diamond buying service. The second step was to start mounting the diamonds that jewellers were buying from us. We are now ready to take a much bigger step forward; one which truly reflects the possibilities that we envisage in the solitaire jewellery space for jewellers. This step is the launch of the Solitaire Services for Jewellers - a business model which combines the advantages of an online diamond buying model with the benefits that are offered by a physical retail store.
Full of the new service are given below and on our website. If you need more information about it, then either call us at 044-42935016/17 or write to us at enquiry@tradersdiamonds.com
The TradersDiamonds Solitaire Services provides a full service solitaire solution to jewellers. It takes care of all the aspects of solitaire design, diamond procurement, manufacturing, training and retail. It helps jewellers set up a diamond solitaire business from scratch and with very little investment. It can also be used by existing solitaire retailers to enhance their solitaire offering and reduce the costs involved in running that business.
What do you get from the TradersDiamonds Solitaire Services?
Solitaire Designs - TradersDiamonds has an in-house design team which will provide you with solitaire designs. If you have a design in mind and want something similar, then the design team can also make a customized design for you.
Solitaire Mocks for display - TradersDiamonds will provide you life-like mocks of their solitaire designs to be used for customer display. These mocks will be low cost and made from high-quality CZ. Thus you can get a large display of solitaire designs without having to invest in expensive diamonds
Loose Diamonds - Once a customer selects a solitaire design, you can use TradersDiamonds.com to find and buy whatever kind of diamond the customer wants for the solitaire. You can also order loose stones without the mounts.
Diamond Setting - TradersDiamonds will set the diamond that you have ordered on the solitaire mount selected by your customer. We have our own solitaire manufacturing facility where the diamonds are set by expert artisans.
Diamond Advisory Services - TradersDiamonds has a team of GIA trained gemmologists who are available to answer any diamond related questions that you might have. These might pertain to understanding the various qualities of diamonds or making a judgement on what stone to buy. Diamonds are a highly educated purchase and this service ensures that you and your team are always well - equipped to handle any queries from your customers.
Sales and Product Training - TradersDiamonds also provides sales, product and diamond training to your sales staff.
Grading Camp - TradersDiamonds will also help you organize grading camps and seminars.
Product Range
How does it work?
Setting up
You just need two things to start off. A computer with an internet connection and a set of solitaire mocks from TradersDiamonds.
www.tradersdiamonds.com gives you a limitless diamond inventory - you can offer multiple options for any diamond requirement that your customers have.
Customers can try the mocks to get a look and feel of the designs. They can also appreciate the quality of manufacturing and the setting.
In addition to the designs on display, you have catalogues to show more designs to the customers. For any customer handling issues you can seek the help of our diamond advisors
TradersDiamonds can also provide sales and product training to your sales staff.
Ordering
Order for the mount and the diamond can be directly placed with TradersDiamonds, You can just call our customer service team to do so.
Delivery
Products are delivered in 7 business days at the store. Bangles take 15 business days for delivery
Pricing and Financials
This is a white label solution. We give you the cost price for the diamonds and the mounts. You can mark it up by any number to sell to your customers.
The cost of a set of 40 mounts for display is Rs 4, 00,000. These are made in 18K gold. At any point in time if you want stop, you can sell the mounts back to us at 75% of the original value.
Payment terms
Initial business will be on cash terms. We will explore credit facility after a few transactions.
TradersDiamonds Solitaire Services as compared to a traditional set-up
Advantage of TradersDiamonds Solitaire Services
This unique combination of offline and online creates the following advantages for a jeweller using the TradersDiamonds Solitaire Service
Full of the new service are given below and on our website. If you need more information about it, then either call us at 044-42935016/17 or write to us at enquiry@tradersdiamonds.com
The TradersDiamonds Solitaire Services provides a full service solitaire solution to jewellers. It takes care of all the aspects of solitaire design, diamond procurement, manufacturing, training and retail. It helps jewellers set up a diamond solitaire business from scratch and with very little investment. It can also be used by existing solitaire retailers to enhance their solitaire offering and reduce the costs involved in running that business.
What do you get from the TradersDiamonds Solitaire Services?
Solitaire Designs - TradersDiamonds has an in-house design team which will provide you with solitaire designs. If you have a design in mind and want something similar, then the design team can also make a customized design for you.
Solitaire Mocks for display - TradersDiamonds will provide you life-like mocks of their solitaire designs to be used for customer display. These mocks will be low cost and made from high-quality CZ. Thus you can get a large display of solitaire designs without having to invest in expensive diamonds
Loose Diamonds - Once a customer selects a solitaire design, you can use TradersDiamonds.com to find and buy whatever kind of diamond the customer wants for the solitaire. You can also order loose stones without the mounts.
Diamond Setting - TradersDiamonds will set the diamond that you have ordered on the solitaire mount selected by your customer. We have our own solitaire manufacturing facility where the diamonds are set by expert artisans.
Diamond Advisory Services - TradersDiamonds has a team of GIA trained gemmologists who are available to answer any diamond related questions that you might have. These might pertain to understanding the various qualities of diamonds or making a judgement on what stone to buy. Diamonds are a highly educated purchase and this service ensures that you and your team are always well - equipped to handle any queries from your customers.
Sales and Product Training - TradersDiamonds also provides sales, product and diamond training to your sales staff.
Grading Camp - TradersDiamonds will also help you organize grading camps and seminars.
Product Range
- Rings
- Pendants
- Earrings
- Bangles
How does it work?
Setting up
You just need two things to start off. A computer with an internet connection and a set of solitaire mocks from TradersDiamonds.
www.tradersdiamonds.com gives you a limitless diamond inventory - you can offer multiple options for any diamond requirement that your customers have.
Customers can try the mocks to get a look and feel of the designs. They can also appreciate the quality of manufacturing and the setting.
In addition to the designs on display, you have catalogues to show more designs to the customers. For any customer handling issues you can seek the help of our diamond advisors
TradersDiamonds can also provide sales and product training to your sales staff.
Ordering
Order for the mount and the diamond can be directly placed with TradersDiamonds, You can just call our customer service team to do so.
Delivery
Products are delivered in 7 business days at the store. Bangles take 15 business days for delivery
Pricing and Financials
This is a white label solution. We give you the cost price for the diamonds and the mounts. You can mark it up by any number to sell to your customers.
The cost of a set of 40 mounts for display is Rs 4, 00,000. These are made in 18K gold. At any point in time if you want stop, you can sell the mounts back to us at 75% of the original value.
Payment terms
Initial business will be on cash terms. We will explore credit facility after a few transactions.
TradersDiamonds Solitaire Services as compared to a traditional set-up
- They have to create designs - You don't need to create designs
- They have a minimum diamond inventory - You don't need to have a diamond inventory
- They have manufacturing team - You don't need to have a manufacturing set up for mounts or diamond setting - automated manufacturing
- Your cost of display is extremely low.
- Minimum inventory for the solitaires or high turnaround time
- Untrained staff - trained staff and expert advice a phone call away
- Can work on far lower margins as compared to a regular store
Advantage of TradersDiamonds Solitaire Services
This unique combination of offline and online creates the following advantages for a jeweller using the TradersDiamonds Solitaire Service
- Low investment in ( and therefore high ROI)
- Diamond inventory
- Designs
- Display
- Manufacturing set up
- Range of offering
- 90,000 plus diamond inventory
- Solitaire designs
- International quality manufacturing
- Sales and product expertise
Sunday, June 14, 2009
Blue Diamonds continue to bolster diamond auctions worldwide
After the record-breaking sale of a 7.03-carat flawless vivid-blue diamond for 9.49 million US Dollars (the highest price per carat for any gemstone sold at an auction) by Sotheby's last month, rivals Christies also joined the action with a 6.29-carat fancy-intense-blue stone going for 3.6 million US Dollars at their spring jewellery sale in New York.
The pear-shaped stone was bought by an anonymous buyer 565,000 US Dollars per carat.
Other stones grabbing the headlines were a 46.72-carat modified-rectangular-cut fancy yellow diamond with SI1 clarity, purchased by the U.S. trade for 602,500 US Dollars; a 10.01-carat pear-shaped internally flawless F-colour diamond, which went to a private U.S. buyer for 458,500 US Dollars; and a diamond necklace by billionaire diamantaire Laurence Graff, which was purchased by a private buyer from the Middle East for 410,500 US Dollars.
And the auction wasn’t just limited to a few big deals. The "New York Jewels" auction turned in a solid performance selling 91 percent by lot and 86 percent by volume. Coming on the heels of good sales in Hong Kong and London, the show in New York reaffirmed that the jewellery market is regaining its strength, which in turn clearly reflects steady progress for the economy in getting back to good health.
This was corroborated by Rahul Kadakia, Christie’s head of jewellery, who described the room as "buzzing" with excitement. And he had reason to be pleased. After all, Christies ended their Spring Jewellery season with dominant market share of 65 percent in New York and 60 percent worldwide. Sphere: Related Content
The pear-shaped stone was bought by an anonymous buyer 565,000 US Dollars per carat.
Other stones grabbing the headlines were a 46.72-carat modified-rectangular-cut fancy yellow diamond with SI1 clarity, purchased by the U.S. trade for 602,500 US Dollars; a 10.01-carat pear-shaped internally flawless F-colour diamond, which went to a private U.S. buyer for 458,500 US Dollars; and a diamond necklace by billionaire diamantaire Laurence Graff, which was purchased by a private buyer from the Middle East for 410,500 US Dollars.
And the auction wasn’t just limited to a few big deals. The "New York Jewels" auction turned in a solid performance selling 91 percent by lot and 86 percent by volume. Coming on the heels of good sales in Hong Kong and London, the show in New York reaffirmed that the jewellery market is regaining its strength, which in turn clearly reflects steady progress for the economy in getting back to good health.
This was corroborated by Rahul Kadakia, Christie’s head of jewellery, who described the room as "buzzing" with excitement. And he had reason to be pleased. After all, Christies ended their Spring Jewellery season with dominant market share of 65 percent in New York and 60 percent worldwide. Sphere: Related Content
Saturday, June 6, 2009
News from the JCK show and how it bodes for the Diamond Industry overall
The JCK Show is the Diamond Industry’s premier buying event. It gives the industry players an opportunity to check out and buy products from across the world, observe the latest trends and hobnob with one another. The 2009 show was held at Las Vegas, and coming at a time when the industry is going through turbulent times, the show was the hottest topic of discussion amongst anyone even remotely connected with diamond industry.
Mithun Sacheti, a graduate jeweller gemmologist from GIA and an avid diamond industry watcher was at the JCK Show. He shared with us on how things turned out at the show and gave us insights on how the overall performance will impact industry dynamics in the near future.
Here are the important excerpts of our discussion
Demand, Supply and Prices
In rounds the strongest demand was for 5 carat and above D-IF goods. There is also massive demand for 10 carat goods but they have become extremely scarce and as a results price have shot up to price premium levels. In fancies, pears in 8 carats and above had the highest demand. But thanks to the demand, even these goods are facing a major shortage now.
In pointers, the prices of triple excellent goods are going through the roof – they have gone up by almost 20% in the last one month
Big Winners
In addition to the suppliers who had diamonds to offer at high discounts, the others who had a successful show were people with rare high quality goods. There was also a good market for unique products.
Big Losers
While unique and rare goods were selling well, generic jewellery suffered badly. The major reason for this was price – there was huge gulf in what buyers were willing to pay and what sellers were offering and hence very few deals materialized.
Global Trend
Asia continues to drive global demand in a big way. Mumbai and Hong Kong are generating most of the business worldwide. The Middle-east is also contributing – they have massive requirements for diamonds in very good and good cuts.
Overall the show was a moderate success and things are looking up. The feel good factor is slowly coming back and both buyers and suppliers are optimistic about the future outlook. Hopefully things should be back to normal fairly soon. Sphere: Related Content
Mithun Sacheti, a graduate jeweller gemmologist from GIA and an avid diamond industry watcher was at the JCK Show. He shared with us on how things turned out at the show and gave us insights on how the overall performance will impact industry dynamics in the near future.
Here are the important excerpts of our discussion
Demand, Supply and Prices
In rounds the strongest demand was for 5 carat and above D-IF goods. There is also massive demand for 10 carat goods but they have become extremely scarce and as a results price have shot up to price premium levels. In fancies, pears in 8 carats and above had the highest demand. But thanks to the demand, even these goods are facing a major shortage now.
In pointers, the prices of triple excellent goods are going through the roof – they have gone up by almost 20% in the last one month
Big Winners
In addition to the suppliers who had diamonds to offer at high discounts, the others who had a successful show were people with rare high quality goods. There was also a good market for unique products.
Big Losers
While unique and rare goods were selling well, generic jewellery suffered badly. The major reason for this was price – there was huge gulf in what buyers were willing to pay and what sellers were offering and hence very few deals materialized.
Global Trend
Asia continues to drive global demand in a big way. Mumbai and Hong Kong are generating most of the business worldwide. The Middle-east is also contributing – they have massive requirements for diamonds in very good and good cuts.
Overall the show was a moderate success and things are looking up. The feel good factor is slowly coming back and both buyers and suppliers are optimistic about the future outlook. Hopefully things should be back to normal fairly soon. Sphere: Related Content
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