De Beers Launches US Diamond Reselling Service

(IDEX Online News) – The De Beers Group of Companies announced that it has launched the International Institute of Diamond Valuation (IIDV) in the United States, to provide consumers and retailers with a diamond jewelry reselling solution.

The company hopes that IIDV will improve customers’ experience by offering more accurate and attractive prices, in addition to increased transparency in the reselling process.

IIDV is also expected to provide a platform for retailers to offer customers a reselling service that compliments their existing activities, including maintaining customer relationships and supporting repeat business – building consumer loyalty. IIDV will not set any minimum limits with regard to a diamond’s value.

IIDV launched after an 18-month pilot program, which was constantly refined to strike the right balance between the needs of the retailer and those of the consumer. IIDV will initially be rolled out to Forevermark retailers, before it becomes more widely available across the US.

“The practice of consumers looking to sell back their diamonds isn’t new,” said De Beers Group of Companies’ Senior Vice President of Strategic Initiatives, Tom Montgomery.

“For the vast majority of people, a diamond is something they keep hold of forever and never look to sell. However, for a variety of reasons, people will sometimes look to resell their diamonds.”

“We believe that consumers have been historically underserved by the industry in this area. 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.