Commodities / 13 September 2018, 08:30am / Staff Reporter
INTERNATIONAL – One-carat diamonds are extremely popular, it is therefore no surprise that buyers keep searching for the price of a 1-carat diamond. Without pushing a list of diamond prices, this report suggests one of the best ways to get the price of a diamond.
While diamond price lists might be the most common source for checking the price of diamonds, this practice is outdated and also quite unreliable. Most diamond and jewellery stores publish their own diamond price lists, the information provided would obviously be biased in favour of their business.
The best way to get a price estimate for a one-carat diamond is to make use of a reliable diamond price calculator. We could take the GLITZKOIN Diamond Price Estimator (DPE) as an example and explain the concept. To begin with, this price estimator or calculator is an offshoot of the soon to be launched DiaEx Diamond Exchange. The platform is configured to handle both B2B and B2C transactions. Participants trade on the platform devoid of middlemen and brokers.
The Diamond Price Calculator is now available and ready to use. The handy tool captures diamond price trends from international markets across the globe. Complex algorithms crunch the data and provide a market price estimate with an accuracy of plus/minus 15 percent. Diamond buyers and sellers using this tool, are not obliged to trade on the DiaEx and users pay nothing to use it.
To get a price estimate of a one-carat diamond, the user would need to input the 4c parameters of the stone. These include the color, clarity, cut and carat (weight) of the diamond being queried. This information is critical since, the parameters have a significant impact on the price of the diamond. Most diamond purchases are made in the midgrade range. For example color could be in the G-J range, the clarity close to VS2 and the cut could be “Good”. If you have any specific 4c parameters in your mind, select those from the DPE drop down menus.
The next step after getting a reliable estimate of the price, for a one carat diamond is to look for the actual piece. Conventional diamond trade is dominated by middlemen, this is something that results in the price getting inflated with multiple middlemen margins. Unfortunately this is how the diamond industry, has operated for decades. This is also what inspired diamond veteran and GLITZKOIN chief executive, Navneet Goenka to launch the blockchain based project. The objective is to improve efficiency and market scope for the $90 billion (R1.4 trillion) industry.
GLITZKOIN with its soon to be released DiaEx Diamond Exchange, offers an excellent alternative to buy and sell diamonds. Based on the latest blockchain technology, the exchange allows trade to be conducted without the presence of middlemen. Authentic certified diamonds are listed on the exchange, prospective buyers from anywhere in the world can transact directly on the DiaEx platform. The GLITZKOIN GTN crypto token will be used to settle trade related payments on the DiaEx.
Diamonds are expensive stones and sizes that are one-carat and above, command a premium price. It is important to have an idea of the price before, buying a diamond. The GLITZKOIN Diamond Price Estimator, is freely available to all diamond buyers and sellers. Users are not obliged to buy or sell diamonds on the DiaEx. The pricing tool would be useful to both, professional diamond buyers and novices.
Access the Diamond Price Estimator from the main website at www.glitzkoin.com Click on the “PRICE ESTIMATOR” bar, you can use the tool any number of times. It is a good idea to check prices for different 4c combinations and make a price comparison.
GLITZKOIN leads the new breed of blockchain projects that are focused on a specific industry. Rooted in the 90 billion dollar diamond industry, this project is geared to deploy a fully functional diamond exchange – DiaEx.
The exchange will facilitate the listing of certified diamonds from across the globe, buyers can similarly access detailed diamond information from the DiaEx diamond exchange, irrespective of their geographical location. While eliminating the over dependence on brokers and middlemen to trade in the precious stone, the project plan has also defined a strategic role for the GTN crypto token that, will be implemented as part of the project.
The cumbersome banking process that can add costs and time delays to payment settlement, will no longer be a part of the trading process since, the GTN token will be used to settle financial commitments made on the diamond exchange. With the GTN token being listed on a few crypto exchanges, diamond traders and the crypto space community will create the demand and supply forces for the token. GLITZKOIN happens to be the first diamond blockchain project to be headed by a diamond veteran.