Blue Nile joins hands with e-commerce company Mondiamo

The initiative enables consumers to sell their diamond jewelry for cash through a simple and transparent process
Blue Nile joins hands with e-commerce company Mondiamo

Online jewellery major Blue Nile has joined hands with Mondiamo, an innovative e-commerce company, to introduce a disruptive service that enables consumers to sell their diamond jewelry for cash through a simple and transparent process.

Test launched since June 2016, this idea has already seen thousands of consumers realize the true value of their diamond jewelry.

Mondiamo uses Blue Nile's live pricing data for GIA-graded diamonds to accurately and transparently create a guaranteed cash offer range for diamond jewelry, sight unseen. Mondiamo then sends customers a free and fully-insured shipping kit to send their diamond jewelry to its evaluation center 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.

Funds are typically transferred within one business day following Mondiamo's receipt of the jewelry. Customers can be confident they will receive more value for their diamond jewelry from Mondiamo versus traditional resell methods, all from the comfort and convenience of their home. Mondiamo's service is currently available only in the United States and Canada with plans to expand globally.

The estimated value of diamond jewelry owned by consumers globally exceeds $1 trillion, with owners selling diamond jewelry worth billions of dollars annually. The diamond jewelry second-hand market, dominated by pawn and jewelry stores, has traditionally fostered a stressful and an opaque selling experience, with little to no transparency around the true value of the product. What Mondiamo brings to the market is an innovative way to sell diamond jewelry with an emphasis on service, value, and transparency by combining a customer-centric approach, advanced pricing data analytics, cutting-edge digital technology, and decades of industry knowledge.

"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 jewelry," 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."

"Mondiamo's customer-centric solution, unlike current alternatives in the market, provides the seller with accurate pricing data and a transparent fee structure," said Ori Levy, CEO of Mondiamo. " We are committed to improving our technology platform and services and plan to constantly introduce new features, all of which are aimed to enhance customer experience."

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