Determining optimal pricing for a diamond purchase turns into a maze that confuses most consumers. When it is time to purchase diamonds, the price tag can vary a lot depending on its quality, its origin and the retailer making it difficult to know where to make such a big investment.
To help consumers make more educated decisions, online diamond marketplace Rare Carat seeks to solve these challenges with price transparency tools.
The features that make Rare Carat’s tools different in the marketplace help buyers understand diamond pricing and value in a clear, comprehensive way. However, what makes Rare Cat’s price transparency tools so unique? You can create your own engagement ring according to your style.
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1. Side-by-Side Diamond Comparisons
And among Rare Carat’s price transparency tools stand a few that allow you to compare diamonds side by side. In shopping for a diamond, most consumers quickly become overwhelmed with the number of choices that exist.
Engagement rings are a very broad category of stone when you start looking at the spread of attributes, the 4 c’s, that go into making up a diamond; cut, carat weight, colour and clarity. This process for choosing a diamond can be simplified by consumers comparing diamonds side by side, which is what Rare Carat’s side by side comparison tool allows.
2. AI-Powered Price Evaluation
One of the other selling features of Rare Carat’s platform is its AI powered price evaluation tools. We use artificial intelligence to look at diamonds based on their own unique set of properties and how they compare with other diamonds in the market.
The AI analyzes not only the listed price of the diamond, but is also informed by the quality of the stone. It is via the grading information supplied by reputable gemological labs such as Gemological Institute of America (GIA) or American Gem Society (AGS).
Rare Carat’s use of AI is what makes it unique, focusing instead on the value of a diamond, not just its price. An objective measure of how fairly the listed price reflects the quality of the stone is provided by this tool.
For example two diamonds carrying the same carat weight can have one cost more because it has a better cut, clarity or color grade. Once we know all the factors about the diamond of interest, Rare Carat’s AI will take all these things into account and come up with a score or ranking.
It helps a buyer determine if the diamond is a good buy — that is, if the diamond is priced appropriately for the quality.
This smart evaluation allows buyers to steer clear of an all too common pitfall of paying too much for diamonds that are priced for more than they are worth. It also makes sure that buyers aren’t driven by marketing tricks that can artificially raise the price of some diamonds without adding additional value.
Thanks to Rare Carat’s AI powered evaluation — buyers can be assured that the diamonds they are considering are being priced according to their value in the market.
3. Real-Time Price Tracking Across Retailers
Rare Carat’s price transparency extends to tracking real time, current pricing across other online retailers. Unlike other platforms that have fixed prices, Rare Carat allows people to get real time pricing on a particular diamond across different retailers. There are a great many uses for this feature, particularly for the buyer who wants to be absolutely sure that the diamond they are getting is the best deal.
Rare Carat, for instance, will once a buyer finds a diamond they like, show the same diamond on different sites, noting price differences. For example, if you’re looking to purchase a diamond and the same one is being listed at a lower price on another site, Rare Carat sends you an alert so that you know where you should buy your stone.
The level of transparency is so extensive that buyers are never in the dark about what the best possible price on a diamond is and how it compares to what is being asked for in some shops.
Additionally, Rare Carat’s price-tracking tool also informs you of any hidden fees including shipping, taxes or insurance that will ultimately affect the total cost of your diamond. It adds a layer of transparency that makes sure buyers are looking at the cost of a diamond not just the base price the retailer shows.
Conclusion: Why Rare Carat’s Price Transparency Tools Are Different
With diamonds so often priced on subjective criteria, or carried through with hidden markups in a market driven by furtive merchants, Rare Carat’s price transparency tools are a breath of fresh air. Rare Carat puts clarity first in diamond pricing, grading and certification to help buyers uncover diamonds based upon real value, not flashy marketing, not inflated prices.
At the end of the day Rare Carat’s innovative way of making diamonds pricing transparent makes diamond shopping more accessible, trustworthy and simple. For first time buyers and diamond shoppers, Rare Carat’s tools are designed to give you the knowledge to make the best possible purchase.
