Millions of online surfers visiting the eBay diamond site will be able to access the new polished diamond SRP (Suggested Retail Price) price list next week. The price list was structured by IDEX Online, following a request from the World Federation of Diamond Bourses (WFDB), headed by Avi Paz. Avi Paz appealed to Udi Cohen from IDEX about a year ago in this matter; the latter brought in IDEX CEO Avraham Stern & the IDEX jewelry market retail analyst, Ken Gassman.



The results were presented yesterday at the presidents’ conference to a panel of the WFDB & the International Diamond Manufacturers Association (IDMA). Stern & Gassman explained that the suggested price displayed in the diamond price list will be a baseline for the final consumer regarding the maximum price for a diamond they wish to buy at a jewelry store.



The diamond price list will be available to consumers without charge. The price list structure & price composition for each diamond will be displayed solely to commercial members.



The new price list is based on the online IDEX database for polished diamonds, which includes details of diamonds with a total value of more than 4 billion dollars. The new diamond price list will be managed by representatives of all entities involved in the diamond trade – manufacturers, retailers, wholesalers & consumer representatives and it will be monitored by an external authority.



Stern & Gassman explained that the price list of offered retail diamond prices is recognized and understood by the American diamond consumer. However, they stated that, according to the feedback received from the commercial circles, there may be a need to establish separate price lists for other diamond markets – Europe, China, etc. The prices – they stated – will be determined by a mathematic algorithm, without human involvement.



The full presentation shown at the presidents’ conference, including the methodology of the diamond price list construction, can be viewed at the website http://www.diamondmsrp.com.



The diamond price list, which was authorized by the WFDB, will be presented on Monday afternoon to the Israeli Diamond Industry, & afterwards at other worldwide diamond centers .