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 introduction of a transaction-based polished diamond price list is possible. The Mercury Diamond™ Price List which Ehud founded, provides wholesale polished diamond prices based on transaction prices in the wholesale market.
As yet another key pillar of Mercury Crystal Clear™, Ehud emphasized the need to improve pricing systems by using actual transaction prices rather than benchmark pricing, which has traditionally been more common in the diamond industry.
A key component of Mercury Crystal Clear™, the diamond pricing system which Ehud founded, is expanding consumer knowledge of diamond characteristics beyond the 4Cs (Carat, Color, Clarity and Cut) known to the ordinary buyer.
"The importance of a transparent and easily understood pricing system for diamonds cannot be stressed enough. For many years, the general press and many consumers have been stating that the misunderstood differences in diamond prices are a turn-off."
Ehud's case for pricing transparency in the diamond industry was made clear in the previous Insight blog. This means making every piece of information about a diamond available to consumers. To help demonstrate how this can be put into practice, Ehud shared his own diamond pricing model, which he used for decades to price both rough and polished diamonds.