Primestyle: Complaints About Diamond Pricing Cause Push to Make an ETF for the Gem
Current Debate Among Diamond Industry Authorities Begs the Question as to Whether the Precious Gem Should Be Included Within Its Own Exchange Traded Fund (ETF); Primestyle, Jewelry Retailer, Responds by Noting That the Move Partially Stems From Diamond Pricing Concerns
NEW YORK, NY--(Marketwire - Oct 4, 2012) - Gold and diamonds have often been associated with wealth, and although both are highly valued in terms of jewelry, they are publicly traded in different manners. A recent article from CNBC discusses the current debate among diamond industry professionals to transition diamond trades in a manner similar to that of gold. Although diamonds are reported to be much more difficult to classify than gold, there is still a great desire to form a specific diamond Exchange Traded Fund (ETF). The article explains the motivation, "Some want protection against inflation. Others believe that making diamond pricing more transparent would open the relatively closed world of diamond dealing and bring in large numbers of new investors." As an online jewelry retailer that offers a wide variety of diamond pieces, Primestyle responds to the pricing issue.
According to the article, many companies within the diamond industry do offer options for investors to buy into diamond stocks. However, there is no uniform approach, which many in the industry are trying to change. Martin Rapaport -- famous for his creation of the Rapaport Price List for diamonds -- notes that he "has plans to create diamond depository receipts, which will enable investors to buy and sell a diamond over the Internet without having to take any delivery." One company, GemShares, has also applied for a patent "claiming it can create a benchmark basket of diamonds that are based on similar cut, color, clarity and carat size."
While these efforts may raise interest among avid diamond collectors and ambitious investors, the article reports that some hobbyists prefer to keep "outsiders" away from a gem that is too unique to trade like gold. According to Primestyle, complaints among consumers have added to collective pricing woes; however, the company reports that despite the arguments over pricing transparency and inflation rates, it has maintained the same approximate value on its diamonds over the last five years. On the issue of pricing complaints, Primestyle encourages consumers to take caution and do research to make sure purchases are legitimately priced.
Although the creation of a diamond ETF remains to be seen, Primestyle ensures that its customers receive top-notch products at affordable prices. In a recent press statement, the company explains, "Any Primestyle complaints or issues regarding price or quality are quickly addressed by our customer service guidelines. Through our unique business model, Primestyle is able to sell diamond jewelry at very low prices, enabling customers to purchase high value merchandise. In addition, Primestyle deals with certified diamonds and provides free appraisal with each item."
ABOUT:
Primestyle.com was created to offer consumers a new way of online shopping for the finest jewelry and diamonds that compliment their lifestyles. In 2001 Primestyle established its factory, enabling the company to develop a strong business philosophy. Today, the company continues to offer the widest selection of popular designs and best quality merchandise at low prices. In addition to quality and affordability, Primestyle prides itself on convenient local and international shipping options, no-risk returns, easy payment options and friendly customer service.
