On 19 August 2014 De Beers announced the launch of a programme to gain an enhanced understanding of consumer diamond reselling activity and the associated consumer experience.
Operated independently by the New York-based International Institute of Diamond Valuation (IIDV), the programme will start from early September to the beginning of 2015. IIDV will work with a small number of retailers in the United States, assessing the effectiveness of existing approaches to reselling and exploring how they could be developed and improved from the consumer standpoint. It hopes to find out the consumer experience from those who look to resell their diamonds, and its impact on the lasting value benefit of diamond ownership.
De Beers’ senior vice president of strategic initiatives Tom Montgomery said: “For reasons such as death, divorce or financial distress, some people will always look to resell their diamonds…We believe that the only way to gain a true understanding of diamond reselling activity by consumers is to run this small-scale programme to assess how reselling has developed, how it might evolve and how it impacts upon consumer perceptions of diamonds.”
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