GCCWIRE
  • Home
  • News
    • Press Releases
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • KSA
  • UAE
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
submit pr
No Result
View All Result
  • Home
  • News
    • Press Releases
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • KSA
  • UAE
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
submit pr
No Result
View All Result
GCCWIRE
submit pr
Home Press Releases

Platforms of the Future as the Circulation of Fancy Color Diamonds Slows Down

admin by admin
November 29, 2022
in Press Releases
Share on FacebookShare on Twitter


(EMAILWIRE.COM, November 29, 2022 ) Ontario, Canada — The circulation of Fancy Color rough diamonds is slowing down due to their inherent scarcity. To put this in perspective, pundits assess that “for every 10,000 colorless diamonds of gem quality, only one natural color diamond will have made the trip from the depths of the earth to its surface.” Impediments such as closures of mines, access for privileged few to the market, pandemics and cost of acquisitions reduce the circulation of fancy color diamonds.

In the past, wealthy European, Middle Eastern and American individuals who bought these gems during the 1970’s through the 1990’s — the ‘golden age’ of supply, passed on their jewelry collections to next generations. Savvy descendants held onto these diamonds, others who were in need of cash, sold them.

This inheritance model served both the wholesale and consumers sectors in the industry. However, as scarcity of color diamonds continues and the need to reach more consumers and investors, the industry is turning to digital platforms such as ecommerce, online auctions, online tenders and blockchain technology.

Ecommerce

Today, many diamond houses, such as Premier Diamond Group (North America) Ltd, are providing information on Fancy Color Diamonds through their websites; many are retailing through their Ecommerce platforms. In 2020, according to Rapaport, “Tiffany & Co.’s e-commerce sales rose 123% during the three months that ended July 31.” Another retail giant, Signet Jewelers, saw online sales grew 72% to $270 million.

Auction Platforms

As consumers turn to online sales to acquire diamonds, auction houses are finding online digital platforms quite rewarding. Christi’s saw, in June of 2020 “the emerald-cut, 28.86-carat, D-color, VVS1-clarity, type IIa diamond ring garnered $2.1 million, beating its $2 million high estimate at the Jewels Online sale,” reports Rapaport. These sales show that there is confidence in auctions taking place at online digital platforms.

Online Tenders

Tenders too are taking place on digital platforms. In 2020, as the pandemic restrained the supply chain of diamonds, De Beers cancelled their March tender and turned to online tender to provide all the necessary information about their rough diamonds and negotiated with customers on payment terms and logistics.

Alrosa took a larger digital step forward to offer over 800 rough diamonds in the 5.00 to 10.00 carat range to long-term customers. “This was the largest volume the company had ever posted online,” according to John Pollard of IGI.org.

Blockchain

While ecommerce, online auctions and online tenders are helping to circulate fancy color diamonds, another digital platform is blockchain technology. This platform incorporates blockchain into diamonds to create a physical coin or token. Each token carries diamonds with different factors such as carat, color, weight, and clarity. Each diamond is GIA certified and it is engraved with QR code for easy verification by an investor or a custodian during a sale or a purchase.

These new platforms, ecommerce, online auctions, online tenders and blockchain technology are helping the circulation of fancy color diamonds to reach consumers or investors. However, it remains the responsibility of each individual to self-educate or seek expert advice.

For those interested in natural colored diamonds as alternative investment, the President of Premier Diamond Group (North America) Ltd., Mr. David Metcalfe is available for consultation. He is a pioneer in the branding of natural colored diamonds as a hedge against excessive market volatility brought about by speculation and government credit excesses. For more information, go http://premierdiamondltd.com/contact-us/.

About Premier Diamond Group (North America) Ltd.

Premier Diamond Group specializes in the purchase and sale of natural-colored diamonds for wealth accumulation and estate planning purposes and holds membership in the International Colored Gemstone Association and the U.S. Chamber of Commerce. For more information, go to http://premierdiamondltd.com/.

Contact Information

Premier Diamond Group (North America) Ltd.

David Metcalfe, President

Skyway Business Park,

170 Attwell Drive, Suite 100

Toronto, Ontario M9W 5Z5

Phone: 416-679-9306

Email: info@premierdiamondltd.com

Disclaimer

This report is based on information available to the public. The information and any statistical data contained herein has been obtained from sources we believe reliable, but we do not represent that they are accurate or complete and should not be relied upon as such. The material contained herein is for information purposes only.

###



Source link

Previous Post

Alba wins two major investor relations awards for 2022 by MEIRA

Next Post

Application Security Market Size to hit USD 13.2 billion by 2025

RelatedPosts

Bioink Market is expected to grow at a CAGR of 20.48 percent during the forecast period
Press Releases

Bioink Market is expected to grow at a CAGR of 20.48 percent during the forecast period

 Bioink Market(EMAILWIRE.COM, January 27, 2023 ) As per the Maximize Market research, a global business and consultancy firm,...

by admin
January 27, 2023
Methyl Palmitate Market is expected to grow at a CAGR of 5.2 percent during the forecast period
Press Releases

Methyl Palmitate Market is expected to grow at a CAGR of 5.2 percent during the forecast period

 Methyl Palmitate Market(EMAILWIRE.COM, January 27, 2023 ) As per the Maximize Market research, a global business and consultancy...

by admin
January 27, 2023
Bio-based Polyurethane Foam Market is expected to grow at a CAGR of 5.9 percent during the forecast period.
Press Releases

Bio-based Polyurethane Foam Market is expected to grow at a CAGR of 5.9 percent during the forecast period.

 Bio-based Polyurethane Foam Market(EMAILWIRE.COM, January 27, 2023 ) As per the Maximize Market research, a global business and...

by admin
January 27, 2023
Press Releases

Automation Testing Market Extrapolated to Reach $52.7 billion by 2027

(EMAILWIRE.COM, January 24, 2023 ) MarketsandMarkets forecasts the global Automation Testing Market size is expected to grow USD...

by admin
January 24, 2023
Load More

POPULAR POSTS

  • MarketsandMarkets™

    Aircraft Seat Upholstery Market worth $1.8 billion by 2025

    0 shares
    Share 0 Tweet 0
  • PallyCon unveils Robust Distributor Watermarking to Fortify Premium Content in the Distribution Phase

    0 shares
    Share 0 Tweet 0
  • KSA Weekly on Kingdom of Saudi Arabia adds to Arab Newswire Media List Press Release Distribution to MENA Region

    0 shares
    Share 0 Tweet 0
  • Automotive Fuel Tank Market Global Forecast to 2026

    0 shares
    Share 0 Tweet 0
  • Oman cable unveils the Global Sustainability Academy

    0 shares
    Share 0 Tweet 0

GCCWIRE™ provides press release distribution services for businesses, organizations and other entities with the need to reach media outlets in member countries of Gulf Corporation Council (GCC) and Middle east and North Africa. Submit press release or contact us today.

Browse By Category

News
Bahrain
Kuwait
Omar
Qatar
KSA
UAE

Recent News

Recent Posts
  • UK’s Hunt pledges to boost growth but won’t budge on tax hikes
  • Qatar Airways Up To 25% Off “Thank You Offer” (Book By April 9)
  • As Covid-19 Protocol Continues to Define International Travel from Nigeria – THISDAY Newspapers
  • UK has some concerns over US green subsidy act, Hunt says

Our Newsletter

    Gccwire is part of GroupWeb Media Network. @ 2023 GroupWeb Media LLC

    No Result
    View All Result
    • Home
    • News
      • Press Releases
    • Bahrain
    • Kuwait
    • Oman
    • Qatar
    • KSA
    • UAE
    • About Us
      • Press Release Distribution Services
      • Submit Press Release
      • Contact Us

    Gccwire is part of GroupWeb Media Network. @2023 GroupWeb Media LLC