IDEX Online, GemStoneKing Launch Joint eBay Direct Sales Channel

[Garry H (Cut Nut)]

This is a press release from IDEX, a b2b trading platform for loose diamonds:

Does anyone have any experiance or knowledge about the e-bay vendor?

IDEX Online, GemStoneKing Launch Joint eBay Direct Sales Channel

New York – May, 26, 2009 – IDEX Online, leading provider of diamond trading services, and GemStoneKing, one of the largest fine-jewelry retailers on eBay, announced the launch of a joint eBay direct diamond sales channel.

The ground-breaking e-commerce platform seamlessly integrates IDEX Online’s diamond trading systems with GemStoneKing’s and eBay’s e-commerce systems. The platform revolutionizes the retail marketplace for certified diamonds by automatically synchronizing the offering process from initial listing of certified diamonds on IDEX Online, through the packaging of ready-to-sell diamond listings for retail consumers on eBay. All IDEX Online diamond suppliers are eligible to participate in this unique eBay channel.

“This new channel – an extension of our Guaranteed Diamond TransactionsTM platform – will turbo-charge our suppliers into the forefront of e-commerce," said Abraham Stern, CEO of IDEX Online. "Think of this as a ‘30-seconds from polishing your diamond to showcasing it mounted on pieces of fine jewelry on the world’s largest e-commerce platform at no effort to you’ service. There is no doubt that our suppliers will make the most of this opportunity by supplying the highest-quality listings possible.”

The new system automatically screens IDEX Online’s entire inventory of more than 350,000 certified diamonds – valued at over $3 Billion – to identify and offer stones meeting the buyer’s specific desires. The linked system creates an experience focused on fulfilling the consumer’s most important needs, including guaranteed availability, comprehensive detailed information on the offered diamonds and, most importantly, best comparable prices. The result: rewarding eBay consumers with the highest-value diamond offerings available across the world at any point in time, and rewarding competitive suppliers with a powerful new channel.

Dinesh Lathi, VP of the Seller Experience at eBay said: “We are pleased to work with IDEX Online and GemStoneKing to bring even greater efficiency and transparency to the diamond marketplace while significantly increasing the selection of diamonds available on eBay.com.”

"GemStoneKing is a leading fine jewelry seller on eBay, with a terrific track record and very high levels of trust and satisfaction from eBay’s consumer community," added Nir Hollander, Chairman of GemStoneKing, Ltd. "We are sure to maximize the value for consumers and suppliers alike.”

IDEX Online will lead its supplier community, providing details on how to participate in this channel. IDEX Online’s personnel will be available for questions during JCK Las Vegas, at Booth #L47. Mr. Hollander and Mr. Stern will also be available for pre-scheduled briefings during JCK.

About IDEX Online
IDEX Online (www.idexonline.com) is a leading provider of trading services and content for the diamond industry. IDEX Online''s offering includes diamond trading services, objective wholesale pricing information, market trends, and up-to-date industry news and analysis. Founded in 2000 by experienced industry professionals, IDEX Online maintains offices in all major diamond centers worldwide, ensuring a secure, unbiased and user-friendly environment to meet the needs of thousands of traders anytime, anywhere.
About GemStoneKing
Led by Nir Hollander, GemStoneKing embodies four generations of experience in the global diamond market. GemStoneKing is today the leading online jewelry retailer on eBay with over 60,000 Internet sales since beginning eBay operations in 1999. GemStoneKing’s eBay consumer feedback metrics, a key indicator reflecting consumer satisfaction and trust, are unparalleled with a 99.9% buyer satisfaction rate from more than 40,000 customers. GemStoneKing has built a large repeat customer following, who have come to expect frequent product and marketing innovations from GemStoneKing.

 

[strmrdr]

interesting should give bluenile a run for its money.

 

[Fly Girl]

I purchased brown diamond earring studs from Gem Stone King a number of years ago. They came with a huge black surface inclusion across the table, even though there was no such inclusion in the photo. The gold setting has the thinnest posts of any of my earrings. I complained, and they did exchange the studs, but I still was not impressed with them.

IMHO, I will never purchase from Gem Stone King again due to poor quality. No comparison with Blue Nile, whom I have also purchased from and have been very pleased with the quality.

 

[D&T]

Date: 5/26/2009 11:38:43 PM
Author: Fly Girl
I purchased brown diamond earring studs from Gem Stone King a number of years ago. They came with a huge black surface inclusion across the table, even though there was no such inclusion in the photo. The gold setting has the thinnest posts of any of my earrings. I complained, and they did exchange the studs, but I still was not impressed with them.

IMHO, I will never purchase from Gem Stone King again due to poor quality. No comparison with Blue Nile, whom I have also purchased from and have been very pleased with the quality.

Hey Fly Girl, I''m glad you posted this, because I almost bought something from Gem Stone King, but didn''t, and I''ve seen other posters wondering if someone had ever purchased from them before as well.

 

[Fly Girl]

Date: 5/27/2009 12:10:10 AM
Author: D&T

Date: 5/26/2009 11:38:43 PM
Author: Fly Girl
I purchased brown diamond earring studs from Gem Stone King a number of years ago. They came with a huge black surface inclusion across the table, even though there was no such inclusion in the photo. The gold setting has the thinnest posts of any of my earrings. I complained, and they did exchange the studs, but I still was not impressed with them.

IMHO, I will never purchase from Gem Stone King again due to poor quality. No comparison with Blue Nile, whom I have also purchased from and have been very pleased with the quality.

Hey Fly Girl, I''m glad you posted this, because I almost bought something from Gem Stone King, but didn''t, and I''ve seen other posters wondering if someone had ever purchased from them before as well.

You are welcome. My purchase was from my pre-PriceScope days. I have a better idea of what to look for now.

 

[denverappraiser]

This doesn't seem all that different from what you see from vendors all over the internet and even in the neighborhood. ‘Virtual’ consignment of diamonds to a jeweler who is prepared to set a stone in a finished piece and deliver it via FedEx or whatever is hardly new ground. For consumers it still boils down to the credibility and value added by the jeweler doing the deal, not their method of advertising or their address.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Paul-Antwerp]

The big question probably is:

Do consumers want a system in which he or she can choose one diamond from a huge offering (350,000 in this case) with limited info on all these diamonds, or does he or she want to choose from a limited selection by a trusted dealer, who also organizes his business to offer great overall service?

Live long,

 

[denverappraiser]

Is the difference afforded by a virtual pool of 350,000 stones as opposed to 70,000 really important to consumers other than those who are looking for VERY exotic things? For those few, is a virtual stone through an ebay seller really the right way to buy it? Again, I don't see anything different from the way it's worked for years with hundreds of other dealers. I understand that IDEX is a powerful group and they want to make a splash on behalf of their client but I don't see much substance here. Other than where they advertise, how is this different from, say, USAcerted?


Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[oldminer]

In the pool of 350K diamonds will many more "average" cut quality diamonds rather than primarily well cut diamonds. For selective shoppers who demand details, I agree that E-Bay will not be a better place to shop. However, if this is an attempt to open the "Internet shopping for diamonds" model to a broader audience it may have merit. E-Bay has a vast audience which will have mass appeal for "commercial quality" stone shoppers. A lot depends on how the process interacts with customers. How appealing will it be to them? How will services be provided? This is one more difficult thing for B&M stores to overcome, especially some of the chain operations. I wonder if they will list "independent appraisers"?

I suspect that even more shoppers will look at the Internet and then discover Pricescope. Somehow I can''t envision E-Bay turning into anything as interesting as we enjoy here.

 

[oldminer]

Here is what GemStoneKing has to say about SI3...... Very entertaining! Copied right form their FAQ section.

What is the SI3 Clarity Grade?
This clarity grade has been in use already for a very long time. It wasn''t until about 1993 or 1994 that wholesale diamond reports started listing a trading price for this clarity grade. There never used to be, officially speaking, such a thing as SI3. You see, there are diamonds on the market that have more inclusions than what an SI2 should have, but aren''t as obvious as they would be in an Imperfect. An SI3 is a stone that would be considered a low-end SI2. Today the EGL, IGI and most laboratories are grading stones including SI3 in there description.


I have been telling people that SI3 diamonds were primarily the upper range of I1 diamonds. What diamond dealer would agree to allow a lab to grade diamonds which would legitimately receive SI2 as a lower grade, SI3? The ONLY diamonds a dealer would allow to be graded SI3 are I1 clarity. Sure, there are borderline calls, but who is kidding who?

 

[diagem]

Date: 5/26/2009 6:52:12 PM
Author:Garry H (Cut Nut)

This is a press release from IDEX, a b2b trading platform for loose diamonds:

Does anyone have any experiance or knowledge about the e-bay vendor?

IDEX Online, GemStoneKing Launch Joint eBay Direct Sales Channel

New York – May, 26, 2009 – IDEX Online, leading provider of diamond trading services, and GemStoneKing, one of the largest fine-jewelry retailers on eBay, announced the launch of a joint eBay direct diamond sales channel.

The ground-breaking e-commerce platform seamlessly integrates IDEX Online’s diamond trading systems with GemStoneKing’s and eBay’s e-commerce systems. The platform revolutionizes the retail marketplace for certified diamonds by automatically synchronizing the offering process from initial listing of certified diamonds on IDEX Online, through the packaging of ready-to-sell diamond listings for retail consumers on eBay. All IDEX Online diamond suppliers are eligible to participate in this unique eBay channel.

“This new channel – an extension of our Guaranteed Diamond TransactionsTM platform – will turbo-charge our suppliers into the forefront of e-commerce,'' said Abraham Stern, CEO of IDEX Online. ''Think of this as a ‘30-seconds from polishing your diamond to showcasing it mounted on pieces of fine jewelry on the world’s largest e-commerce platform at no effort to you’ service. There is no doubt that our suppliers will make the most of this opportunity by supplying the highest-quality listings possible.”

The new system automatically screens IDEX Online’s entire inventory of more than 350,000 certified diamonds – valued at over $3 Billion – to identify and offer stones meeting the buyer’s specific desires. The linked system creates an experience focused on fulfilling the consumer’s most important needs, including guaranteed availability, comprehensive detailed information on the offered diamonds and, most importantly, best comparable prices. The result: rewarding eBay consumers with the highest-value diamond offerings available across the world at any point in time, and rewarding competitive suppliers with a powerful new channel.

Dinesh Lathi, VP of the Seller Experience at eBay said: “We are pleased to work with IDEX Online and GemStoneKing to bring even greater efficiency and transparency to the diamond marketplace while significantly increasing the selection of diamonds available on eBay.com.”

''GemStoneKing is a leading fine jewelry seller on eBay, with a terrific track record and very high levels of trust and satisfaction from eBay’s consumer community,'' added Nir Hollander, Chairman of GemStoneKing, Ltd. ''We are sure to maximize the value for consumers and suppliers alike.”

IDEX Online will lead its supplier community, providing details on how to participate in this channel. IDEX Online’s personnel will be available for questions during JCK Las Vegas, at Booth #L47. Mr. Hollander and Mr. Stern will also be available for pre-scheduled briefings during JCK.

About IDEX Online
IDEX Online (www.idexonline.com) is a leading provider of trading services and content for the diamond industry. IDEX Online''s offering includes diamond trading services, objective wholesale pricing information, market trends, and up-to-date industry news and analysis. Founded in 2000 by experienced industry professionals, IDEX Online maintains offices in all major diamond centers worldwide, ensuring a secure, unbiased and user-friendly environment to meet the needs of thousands of traders anytime, anywhere.

About GemStoneKing
Led by Nir Hollander, GemStoneKing embodies four generations of experience in the global diamond market. GemStoneKing is today the leading online jewelry retailer on eBay with over 60,000 Internet sales since beginning eBay operations in 1999. GemStoneKing’s eBay consumer feedback metrics, a key indicator reflecting consumer satisfaction and trust, are unparalleled with a 99.9% buyer satisfaction rate from more than 40,000 customers. GemStoneKing has built a large repeat customer following, who have come to expect frequent product and marketing innovations from GemStoneKing.

A memo system!!!

Part of the original Idex invitation to participate....

"How does the system choose the offered diamonds?
The system screens for diamond listings that:

*Are marked as being ‘Guaranteed Availability’, meaning that when the diamond is sold on eBay it is guaranteed to be in your possession

*Have comprehensive information on the diamond

*Have a high-quality scan of the original certificate or a link to a high-quality online certificate

*Are competitively priced compared to other diamonds in the same comparable group. For example, If two diamonds have the same 4Cs, have a certificate
from the same grading lab, the same cut grade, and other parameters are similar as well, then the system will choose the better-priced first, while taking into account geography and S&H charges

*The system does not discriminate based on identity of supplier – all suppliers in good standing are equally served.

How do I know if one of my diamonds was sold on eBay?
If one of your diamonds was sold on eBay, a representative from GemStoneKing will contact you and initiate a diamond transaction in similar ways you transact today. GemStoneKing payment for the diamond will be forwarded to you in cash within 12 business days from the initiation of the transaction, with a return option in this period."

 

[denverappraiser]

This leaves much to be desired for shoppers but I see a great need for expert appraisers out of it.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Rockdiamond]

Date: 5/27/2009 11:13:50 AM
Author: Paul-Antwerp
The big question probably is:

Do consumers want a system in which he or she can choose one diamond from a huge offering (350,000 in this case) with limited info on all these diamonds, or does he or she want to choose from a limited selection by a trusted dealer, who also organizes his business to offer great overall service?

Live long,

I think this is a very good point Paul.
The fact that the largest online seller (Blue Nile) does not include actual photos tells us that many consumers are willing to accept a lack of info most readers of this forum would never stand for.
This news just re-enforces that fact that most shoppers are willing to buy based on such limited info- sad really.

In terms of the seller in question- the quote about SI3 is merely the tip of the iceberg in terms of the lack of accurate info they post.
I find it to be misleading that they are not clearly mentioning the fact that they use representative photos. It sounds that FlyGirl experienced the negative effects of this.

I agree that many of the stones that will be offered will be mediocre, at best.