What Is Your Added Value? Why the Traditional Diamond Centers Must Adapt to Change

(ehudlaniado.com) - The math for setting prices in the market is fairly straightforward, and I have presented it over time more than once. In a way, you could argue that it is a technical matter. However, the process is more than reverse engineering the price consumers are willing to pay for polished diamonds to calculate what the cost of rough diamonds should be. It’s also about adding value. A simple example of adding value is the transformation of rough diamonds into polished diamonds – manufacturing. There are several others, and they are important because of the role they play in bringing a worthwhile product to consumers. They include branding, stone matching, financing memo goods, financing jewelry manufacturing, aiding in marketing efforts, and even specialized knowledge that either enhances the diamond or improves its salability.