At DiamondFloor.com, any time may be the right time to hunt for diamonds
A new e-commerce Web site aims to make buying diamonds easy for the trade by bringing registered sellers and buyers together in the virtual world. DiamondFloor.com (www.diamondfloor.com) describes itself as a working diamond exchange or trading floor.
In development for more than two years, DiamondFloor.com launched late last year. Its the brainchild of Avi Carmon, the companys president and CEO. DiamondFloor.com uses traditional methods of transacting diamond purchases combined with e-commerce capabilities. Carmon says DiamondFloor.com differs from other diamond Web sites because it facilitates the conclusion of purchases between buyers and sellers rather than selling from its own stock.
DiamondFloor.com is headquartered in Ramat Gan, Israel, and has branches in New York City and Antwerp, Belgium.
Qualified Buyers and Sellers Only
Our service is not available to the ultimate consumer, says Sonja Scriven, the companys marketing communications manager. This means diamond prices and information will be vigorously protected from unqualified buyers. To participate, buyers and sellers are carefully screened and registered.
DiamondFloor.com says preference is given to companies affiliated with the World Federation of Diamond Bourses. The strategy appears to be working: after a month of operation, DiamondFloor.com says some 1,000 companies had registered.
When fully operating, DiamondFloor.com hopes to attract some 4,000 members to its site. The company wont charge sellers for its various services initially but will institute nominal fees after a six-month trial. The company expects to earn its biggest revenues from banner ads and marketing projects.
Every diamond will be accompanied by a certificate from a major gemological laboratory. Sellers must register every diamond they offer by uploading a scanned copy of the certificate. At press time, about 6,000 certificates were available.
Our programs automatically plug in all the parameters of the diamond and create a list that a potential buyer can scan and compare, says Scriven. To that is added a per-carat price and other information a seller wishes to include. That means everyone from buyers to sellers will know what is available for sale and what it costs, says Scriven. For added security, the identities of buyers and sellers are confidential.
Facilitating the Transaction
Once an on-line order is placed, DiamondFloor.com takes charge. This includes a confirmation of the purchase and the scheduling of pick-up and delivery by Malca-Amit, DiamondFloor.coms contracted courier (buyers pay shipping charges).
At pick-up, sellers receive a receipt for the diamond. In turn, they must issue an invoice for the goods, attach the receipt and send everything back to DiamondFloor.com.
DiamondFloor.com then has a gemologist check the diamond to make sure it matches the certificate information. The buyer receives the diamond from an insured carrier. (Diamonds are insured from the time they leave the sellers hands to the time they reach the buyers hands).
Buyers can pay by credit card, C.O.D., wire transfer, money order and check.
In the future, DiamondFloor.com hopes to provide real-time market information and prices and to institute live diamond auctions.
- DiamondFloor.com, New York City, (212) 626-6856, or Ramat Gan, Israel, (972) 3613-8780, firstname.lastname@example.org.
by Robert Weldon, G.G.