Disruption: A necessity in the diamond industry
Like every other industry, the diamond industry, too, is constantly changing and evolving. There is always something new to know about, be it related to artificial intelligence (AI) or blockchain. These two technologies, especially, have brought about a major disruption in this field.
Disruption is not the first step in bringing about change. It needs a thought process that is very different from the rest.
The term disruption in context goes much beyond just adapting to changing trends. It is more apt for an entity generates change and leads the way. With the help of its unique pricing tools, Divine Solitaires has created a niche for itself in the solitaire and solitaire jewellery section.
The kind of disruption that not only sets the trend but also eases out challenges sets a good example. It adds more value to the existing technology and structure of the diamond industry.
Innovative disruption addresses problems that have been part of the industry for a while. These problems are mainly related to pricing and quality.
Divine Solitaires has pioneered some industry firsts that have enabled the industry as well as consumers understand how transparency works.
The Divine Solitaires Price List
Diamond prices are always fluctuating which is why there should be a process that records and documents these trends. To standardise diamond pricing, Divine Solitaires curated its own Nationwide Standard and Transparent Price List, which is updated every month.
The prices of brand’s diamonds are part of this list, depending on their size, colour, cut and clarity.
The Divine Solitaires Price List is prepared on the basis of the cut, clarity, carat and colour of all the diamonds. Additionally, it also considers factors like demand & supply as well as current industry trends.
The Solitaire Price Index
For a while, there was no way for consumers to find out the changing trends in diamond prices. Divine Solitaires introduced the Solitaire Price Index (SPI) which is an average of all the prices in the Price List.
The purpose of the SPI is not only to index diamond prices but to also reflect the diamond pricing trends.
Released at the beginning of every month, the SPI gives a clear indication of the month-on-month as well as the year-on-year change in diamond prices. It serves as a useful pricing tool for consumers when it comes to diamond shopping.
The digital solitaire experience
The digital solitaire experience by Divine Solitaires brings to consumers the convenience of tracking their diamond with ease. To know the story of your diamond is to know its authenticity.
The journey of a diamond is long and has details that we wouldn’t otherwise know. The brand’s digital platform integrates the mobile application and website to give consumers the digital solitaire experience.
The digital platform also allows one to know and track the quality and price of their diamond.
One can customise the 4Cs of their diamond and know its current value in no time. The user can also check the past prices and compare them to know the pricing trend.
The digital platform also lets the user access their diamond certificate, one-year free insurance and much more!