Leading jewellery e-tailer Blue Nile is offering a new service to its customers. The Company has partnered with Mondiamo “to revolutionise the way consumers sell their diamond jewellery”, a Company announcement stated.

The press note explained: “Mondiamo's online platform provides consumers a trusted and transparent process to sell diamond jewellery by utilising real-time diamond market prices from Blue Nile, a leading marketplace for high quality diamonds.”

Mondiamo is an affiliate of Adama Partners, a New York-based venture firm that focuses on the global diamond, gemstone and jewellery industry.

The process of sale will be simple, transparent, the partners believe; and point to its success since the test launch in June 2016.  

“The estimated value of diamond jewellery owned by consumers globally exceeds US$ 1 trillion, with owners selling diamond jewellery worth billions of dollars annually,” Blue Nile elaborated further. “The diamond jewellery second-hand market, dominated by pawn and jewellery stores, has traditionally fostered a stressful and an opaque selling experience, with little to no transparency around the true value of the product.”

The processs of Mondiamo’s digital offering is based on Blue Nile's live pricing data for GIA-graded diamonds “to accurately and transparently create a guaranteed cash offer range for diamond jewellery, sight unseen”. After that, Mondiamo sends customers a free and fully-insured shipping kit to send their diamond jewellery to its evaluation centre for inspection and final offer value. “To date, 100% of the transactions resulted in customers receiving a higher cash payment than the minimum offer value,” Blue Nile said. “Funds are typically transferred within one business day following Mondiamo's receipt of the jewellery. Customers can be confident they will receive more value for their diamond jewellery from Mondiamo versus traditional resell methods, all from the comfort and convenience of their home.”

Currently, Mondiamo's service is only available in the United States and Canada; however there are plans to expand globally.

"One of Blue Nile's guiding principles is to provide transparency to consumers so they can make a diamond purchase that's right for them, and this partnership with Mondiamo provides that transparency to those who wish to sell their diamond jewellery," said Blue Nile Chairman, CEO and President Harvey Kanter. "Blue Nile has one of the largest inventories of GIA graded diamonds in the world, which makes us the most reliable place to buy high-quality diamonds, and now, with Mondiamo, to sell diamonds at tremendous values."

Commented Mondiamo CEO Ori Levy: "Mondiamo's customer-centric solution, unlike current alternatives in the market, provides the seller with accurate pricing data and a transparent fee structure.”