DIAMONDS.CO.NZ – Sale, What Sale?

Diamonds.co.nz will never have sales like those seen at major jewellery retailers in New Zealand. The New Zealand consumer must now be realising that to have a 50% off sale, the margin has to be there in the first place, and at diamonds.co.nz their margins are so competitive that to have a 50% off sale is impossible, with the margin structure used by diamonds.co.nz. This enables the consumer, to buy with confidence in the knowledge that if they purchase a particular diamond and ring design from diamonds.co.nz that in the future they won’t see it on sale. At diamonds.co.nz they feel this is very destructive to a brand, and the only fluctuation in prices will be caused by exchange rates, metal and global diamond prices.

Diamonds.co.nz utilises the Diamond Retail Benchmark (DRB) to indicate the global competitiveness of the diamonds listed on diamonds.co.nz. For the first time ever, diamond jewellery consumers are going to have a diamond retail benchmark that will guide them in how much they should pay for a diamond. The Diamond Retail Benchmark (DRB) is derived from up-to-date market data using an objective and fully transparent methodology.

The diamond category is one of the few retail sectors that up to now has not had a Retail Benchmark for consumers. For consumers, many of them first-time diamond buyers, the purchase of a diamond may sometimes prove to be a confusing experience. As a luxury product that will accompany consumers through major life events and will be bought to celebrate those events, confidence is elementary. Consumers should be able to buy a diamond with the confidence of knowing they paid a fair price.

The DRB presents a retail price recommendation for a diamond based on each of the 4Cs – Cut, Carat, Colour and Clarity. The benchmark is based on the high-end of retail prices currently in the market place, therefore allowing enough room for all business models. The DRB should be used as background information only. Actual prices are determined by the sellers. The Diamond Retail Benchmark is based on the principle of up-to-date market data and derived using an objective and transparent methodology. The DRB is audited by a third party supportive of the trade and is accessible to consumers worldwide. It is governed by an inclusive board with representatives from all stakeholders - manufactures, wholesalers, retailers and consumer advocates.

For more information on diamonds.co.nz please go to www.diamonds.co.nz .