Sarine Technologies Ltd. has started a Pay Per Value (PPV) service for its Galaxy® family of scanning and inclusion mapping systems, which empowers cost-effective scanning of lower quality stones, which have not been scanned to date as the value proposition did not support their scanning.
Since its introduction in 2009, pricing of the inclusion mapping services offered by the Galaxy® family of systems has been solely based on the weight of the scanned goods, derived from a Price-Per-Carat (PPC) price list. This often created conditions where it was less economical, or even economically unviable, to scan even large lower quality rough diamonds.
David Block, Chief Executive Officer of Sarine, stated, “We expect this new capability will expand the market for our Galaxy® systems and services, as we estimate that some 15% of the larger rough diamonds were not till today scanned, due to the previous pricing paradigm, which the new PPV offering resolves. No less importantly, we believe the PPV pricing will eliminate an avenue leveraged by our illicit competition to offer their IP-infringing lower-priced services for lower quality goods.”
Derived once again from artificial intelligence (AI) technology, Sarine has developed a classifier that, based on their overall internal features, automatically recognises the value of natural rough diamonds as being under a certain value per carat, currently for stones from 2.5 to 10 carats. The new PPV feature utilises this new technology to classify the natural rough diamonds value range and automatically discounts the PPC pricing to adjust for the stones’ realistic value. The company noted that this service significantly broadens the addressable market for its Galaxy® services. As the firm continues to develop AI classifiers to additional quality / price ranges, it will ultimately be able to provide cost-effective inclusion scanning services for virtually all rough diamonds.