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De Beers Rolls Out Diamond Reselling Business in U.S.

Mar 17, 2016 3:17 AM   By Rapaport News
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RAPAPORT... De Beers launched its diamond reselling business in the U.S. after an 18-month pilot program, targeting both retailers and consumers by offering better prices and greater transparency.

The International Institute of Diamond Valuation (IIDV) will provide customers with “more accurate and attractive” prices and give retailers a service that complements their own activities, helping to maintain customer relationships and support repeat business, De Beers said in a statement March 16. Retailers will be able to offer their customers a reselling solution for all diamonds, regardless of value.

IIDV will initially work with retailers of De Beers brand Forevermark before making the services more widely available in the U.S.

“We want people to know that their diamonds have lasting value, and we will support this by seeking to offer them more attractive prices when they look to resell,” said Tom Montgomery, De Beers senior vice president of strategic initiatives.

“Following the pilot program, we are now confident we can achieve this goal, supporting long-term diamond equity and enabling retailers to provide their customers with greater assurance about the enduring value of their diamond purchase.”
Tags: buybacks, De Beers, Diamond reselling, iidv, international institute of diamond valuation, Rapaport News, reselling
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