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Crystal Clear – From Rough to Polish
Improving the pricing transparency of polished diamonds is the first part of the two main components of the Crystal Clear philosophy. The other part, driven by the first, is the ability to then determine the prices of rough diamonds.
The rationale that Ehud used here was that, ultimately, it is consumers who determine the price of a rough diamond based on how much they are willing to pay for its polished output.
The Crystal Clear philosophy for calculating rough diamond prices out of their polished value was not theoretical. He shared a practical methodology with the diamond community in this article, Why are Rough and Polished Prices Disconnected?, Where he provided a series of examples to his approach to pricing rough diamonds.
Ehud also discussed the risk of loss when the price of rough diamonds is determined by a miner and disconnected from retail prices.
Once again, Ehud emphasized the benefits from this more transparent approach at setting rough diamond prices. "I believe that if consumers were more educated about diamond prices and if they had access to information on diamond prices, we'd all be selling more diamonds and more jewelry. If the way diamond prices are determined became openly known and clear to consumers, then the prices themselves would be clear and publicly known. If that were the case, the way the market works to reverse engineer prices - with the price of polished diamonds translating back to impact the price of rough diamonds – the result would be accurate pricing that reflects real changes in value".
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