Supplier Issues? This Diamond Seller Is A Worthy Alternative

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PinkDiamond
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Supplier Issues? This Diamond Seller Is A Worthy Alternative

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Some supply chains are still caught up in lockdowns, and even where they're not, moving products isn't as easy as it was pre-pandemic, so with so much changing this is a good source for diamonds if your normal suppliers aren't able to move product. I doubt many of you would have a use for it, but some might so here's the info. ;)

Supplier Issues? This Diamond Seller Is A Worthy Alternative
October 13, 2020 by Amy Elliott

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"Right now, if a consumer isn’t looking for creative ways to upcycle her old jewelry she’s definitely looking for ways hock it for cash. And she has options for doing just that: Main Street jewelers. Sites that specialize in consigning luxury goods (like The RealReal). And the many digital diamond resale portals that provide consumers with a convenient way to unload their unwanted engagement rings and other diamond jewels.

A leader in this last category is the New York–based online marketplace Worthy, which secures its diamonds through consumer channels and sells them to dealers and retailers via auction. And at this precise moment, it’s in a unique position to assist jewelry pros in need of diamonds in specific carat weights and shapes.

Securing such inventory via traditional supply channels is posing a variety of challenges. “Due to COVID, the major cutting centers have been idle,” says Worthy chief gemological officer Roy Albers. “Just recently, India, the largest cutting center, has come back online with limited cutting. It will take several months to regain any semblance of a steady supply. With the Q4 season here, the current polished supply is what will go to market and retailers will find it increasingly difficult to fill orders and last-minute holiday sales, particularly for some key qualities and shapes, especially well-cut ovals and cushions.”

Worthy is seeing rigorous bidding on its diamonds as a result. On any given day, there are more than 200 active auctions; this week there’s one scheduled to take place Wednesday and another will be held on Friday. The auctions are strictly trade only, and preregistration is required.

Clearly, Worthy is winning at volume, but it also stakes its reputation on quality and authenticity. All stones are sold with a grading certificate and have been vetted by a team of experts overseen by Albers, who was previously chief gemologist and vice president of gemstone acquisitions for Tiffany & Co. and has served on the board of directors of the American Gem Trade Association and the American Gem Society.

And since Worthy’s jewelry pros have previewed and authenticated the product, you don’t have to waste valuable time hunting and digging around for say, a 4 ct. K color SI1 clarity oval or a GIA-certified 1 ct. E color VS1 clarity round.

Or doing business with dealers you don’t know and definitely don’t have time to vet.

Albers and his staff are also willing to accommodate presale, in-person viewing appointments at Worthy’s Diamond District headquarters at their discretion (i.e., wear a mask).

When browsing the auctions, know that round and oval diamonds are particularly in demand, so if you see something you think you can sell, jump on it.

Whether you want to disclose ... '

https://www.jckonline.com/editorial-art ... te-worthy/
PinkDiamond
ISG Registered Gemologist


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