Estimating the price of a diamond is not an easy task. While the 4Cs (color, clarity, carat and cut) are important features that determine the price, other factors also play a part. International diamond markets are interconnected and this is what, complicates the demand and supply equation for the precious stone.
The DiaEx Diamond Exchange is being developed as part of the GLITZKOIN diamond blockchain project. With the testing phase scheduled for October 2018, the promoters have announced the release of a high utility Diamond Price Estimator (DPE). The utility draws demand and supply related information, from major diamond markets across the globe. The large volume of data collected is crunched, through a series of complex algorithms. The results together with the 4Cs information for a specific diamond, can deliver an estimated market price with an accuracy of +/- 15%.
The DPE is useful for both buyers and sellers, identifying the right 4C parameters for the desired diamond is extremely important. A prospective diamond buyer would need to know, the 4Cs for the diamond that is of interest. Depending on the level of diamond knowledge possessed by the buyer, it might be necessary to do some ground work to arrive at the relevant 4C parameters.
Professional and first time sellers, could use the price estimator to determine the general market price for their diamond. Since the diamond in this case would be in the possession of the seller, the best way to assess the 4Cs of the stone would be to get it certified from a reputed diamond testing laboratory. The certification process will also ensure that the diamond being evaluated is an authentic stone and not a fake.
A few words about the GLITZKOIN project and more specifically, about the DiaEx Diamond Exchange. The project is the first diamond blockchain to be promoted by a diamond veteran. The Diamond Exchange will bring together diamond buyers and sellers on one single platform. The geographical location of participants will be irrelevant and there will be, no room for brokers and middlemen. Payments for transactions conducted on the DiaEx, will be settled through the GTN crypto token.
The Diamond Price Estimator is available to everyone at no charge. Users of the pricing tools are not obliged to trade on the DiaEx Diamond Exchange. The estimator can be accessed on the www.glitzkoin.com website, look for the PRICE ESTIMATOR icon as you enter the website.