Gemewizard launches most sophisticated gem price system

Gemewizard has introduced a gem price list system for the gemstone sector, developing it to be called one of the most sophisticated softwares for the sector. The company is the world leader in the development of colour communication software and hardware for the gemstone and diamond industries. The new invention is named as GemePrice, and is available online, allocating wholesale prices to specific gemstone types, according to the Colour Codes generated by Gemesquare, Gemewizard's highly regarded color communication module.

"GemePrice is groundbreaking, not only because of the ease and accuracy with which users can define exactly what gems they are examining, but also because of the scientific method by which we collect and collate the pricing data," explained Yinon Feldheim, Gemewizard's general manager. "We are fully aware that, ultimately, GemePrice will not only be judged according to its technological prowess, which we know is cutting edge, but also by the reliability and integrity of the data and by the transparency of the methods by which that data is collected."

GemePrice enables a user to ascertain the price of a specific gem, after defining its specifications through a series of simple to use drop-down menus. The user could also opt to browse through the price list checking various grades and sizes. Gemesquare is integrated within the system, allowing the users to obtain prices for specifically and very accurately defined gemstone colours. Prices are available for the full range of grades and qualities of more than 50 types of the most commonly traded gemstone types, in 15 different shapes. The prices can be displayed per carat, by piece or in multiples of pieces.

To compute the gemstone prices quoted by GemePrice, Gemewizard has developed an integrated system that includes a color analysis of tens of thousands of gemstones being offered for sale at any particular time on the Internet, gemstone prices allocated by a panel of industry-renowned experts, and real time commercial data collected from Gemewizard's GemeShare trading platform. The system includes a series of checks and balances that verify the veracity of data being provided, and eliminates any anomalies that could distort the results.

The prices are updated once every four weeks, and Gemewizard's updated price list center allows users to accordingly upgrade their systems. GemePrice subscription is an annual fee and is being made available only to bonafide members of the trade as it is a wholesale price list system.

GemePrice will be exhibited for the first time at the GJX show in Tucson, February 4-9, 2009.