Interesting Threat

[pricescope]

Pricescope received a threat of lawsuit from one of the NY diamond wholesalers. They are not happy that their stones are listed on Pricescope.

Some of Pricescope vendors also have been asked not to list diamonds in the internet at all and Pricescope in particular.

Obviously, somebody’s unhappy about low prices consumers can find in the Internet and pressing these wholesalers.

I think it is quite remarkable and smells like a price fixing.

 

[Superidealist]

You must be doing something right to get these people so upset.

 

[Caratz]

Tell them they can kiss your ass!

Hooray for pricescope.

And Leonid, I think you run a good forum over here. There aren't nearly as many posts here as over on that other board, but you've managed to do away with most of the shameless self-promotion by the retailers. I have found this site to be a great source for information. Keep up the good work!

 

[pricescope]

Thanks guys

I don't think they can succeed suing Pricescope because all the pricing information is taken from the open sources.

It just indicates the situation in the industry.

 

[oldminer]

If those wholesalers who list their inventory did not want it to be sold to the public, they would do what they need to do to make the information unobtainable. Just by putting it out as they do is an excellent indicator that they really want the diamonds to be SOLD, and they really don't care how.

It would not surprise me to see they are being pressured by their large retailer clients to limit the distribution of wholesale pricing to the trade only. Rather than tell their big customers "NO", they threaten a lawsuit which continues the game as it is.. Nice move.

Pricescope ROCKS!, pun intended...

 

[tr65]

Old Miner:

Are you in the country? Someone said you were in Russia or something.

 

[oldminer]

Nope.. Sitting at my office desk, one short block from Independence Hall, in olde City Philadelphia.

Never been to Russia and likely never to go. I will be at my backyard retreat on July 4th with friends and family.

 

[pricescope]

It was Garry... He had a great trip to Russia then Finland and now he's on the way home via Singapore

 

[Jess]

Oops! That was probably my bad for posting that. I guess I got them mixed up! Sorry!

 

[swift]

What exactly are you doing on pricescope that they are saying hurts their business? If they are true wholesalers, they are not selling to the public directly themselves. Anyone who sells to the public, even at extreme discount, is a retailer. I'm not sure I understand what they are asking you to do, what are they threatening you with, and on what grounds can they sue you?

 

[pricescope]

Many wholesalers and cutters list their inventories in a few trading networks closed for the public (B2B). Some internet diamond brokers relist these inventories on their websites adding a few % margin for their services.

Pricescope takes the information from these sites, which are open to everybody. That's way you can see same diamond listed by different vendors.

Obviously, there is a conflict between traditional and internet diamond retailers since the former cannot afford low margin. They are pressing their suppliers to remove diamonds from the web, and Pricescope in particularly, threatening to drop their suppliers.

Another possible reason is that some big internet diamond companies want exclusivity in selling goods in the web. They’re also threatening to drop their suppliers if their diamonds will be listed by other internet brokers.