Everyone knows EXACTLY what this is... Tread carefully.
This reminds me of SVC (Sovereigncoin). It's actually scary how similar the two are.
Why would you sell real gems for a cryptocurrency? Are you just that good of a person? That kind? That generous?
I'm sure the vendors will end up getting USD in the end. Also, gemstones are not a commodity. They are a luxury item. In reality, the markup is rather high, especially on diamonds due to a certain cartel. Ever wonder how your local jewelry shop can regularly have clearance "sales" at 50-70% off? They aren't selling at a loss.
Also, diamonds really are not that rare. If they were, you wouldn't be able to procure one at Wal-Mart.
That is the biggest bunch of Hogwash I have heard in a while. I am sure you know better than the statements above. I have seen multiple post here that say diamonds have a high markup price, untrue for fine diamonds. Your statements are misleading or ignorant.
Look at the image below:
-You are right saying that diamonds are not rare - except only 15% of all the mined diamonds are worthy of even a lowly I3 grade. Meaning 85% of mined diamonds are better suited to make drill bits.
-Of the remaining 15% - Half are I1-I3 - These are the "Mark Up" diamonds that you see at Walmart -
- Now we are left with about 7% of the diamonds and those diamonds make up the "Nice Diamonds" from Flawless to SI2 - They typically sell from the diamond cutters etc to the diamond dealers for about 60% of Rap and then to the stores and jewelers for about 70% of Rap. The store then marks them up to about 80%-100% of Rap. That only goes for the SI stuff and below. If you have a D,E,F color and VS or better clarity then there will be a premium of 10% to way up for a Flawless D color diamond.
Then the cut and flourescence come into play. Rap is based on Brilliant/Ideal cut and you subtract for a lesser cut and subtract for fluorescence.
Obviously these statements are valid for a GIA graded stone and to a lesser degree EGL-USA.
etc. etc etc.
I challenge you to find a 1 ct - VVS - D colored diamond marked off 75% at your local Walmart - What I see in the list are high quality stones (for the most part) and the price of those stones is
extremely predictable - for comparison purposes you can refer to Rap or Bluenile.com for accurate pricing - and use that to judge how the stones are priced when the store opens.
Lastly - If you want to go out and by your wife (or did go out and buy your wife) a 2 carat I2 stone and are pissed off you cannot sell it on Craigslist for what you paid for it - you probably did get ripped off and maybe you need to do more research next time and buy a stone in the top 7% and not the bottom 93%.
