• Boyet Diamonds

Boyet sells diamonds directly to consumers without relying on shopping malls or advertising

The designers of Boyet Jewelry Trading Co., Ltd., while serving customers, chatted and drew several designs on paper, letting customers select, propose and make amendments. This is one of the personalized customer service procedures of Boyet Jewelry Trading Co., Ltd.

It is reported that the global demand for diamonds is gradually falling short of demand, and the price of rare diamonds has risen significantly. Those who have individual needs, when buying diamonds, demand uniqueness.

On November 24th, BOYET Jewelry Group, with its new brand held the opening ceremony in Shanghai. Established in 2016, Boyet Jewelry Trading Co., Ltd. is a professional diamond company integrating diamond cutting, design, setting, and retail. This year, it was officially approved to enter China's largest jewelry trading place called Shanghai Diamond Exchange.

Boyet entered the Chinese market and focused its products on the rare and perfect white diamond (D IF) grade and Fancy Vivid Yellow diamond grade. However, this company does not follow the usual path, does not enter the mall, does not set up counters, and does not rely on traditional retail channels. It mainly organizes exchange meetings, meet-ups, sharing sessions, salons and other forms to communicate with customers.

The designer of this company has good pencil sketching skills and draws the shape of diamonds on paper according to the interests, hobbies, and aesthetics revealed by the client during the conversation. After several modifications, place an order, engrave, add secrets, add intimate information, maintenance settings, etc. For example, polishing is carried out entirely by hand, and the craftsmen are very patient in brushing the smallest surface of the diamond to reflect and deepen the diamond's luster. Each diamond needs to be polished at least 3 times. Each diamond of this company will apply for a certificate from the international authority-the Gemological Association of America (GIA), and the obtained code will be laser engraved on the belt (diamond circumference), using a 20x magnifying glass to identify it.

The diamonds from Boyet come directly from transactions on the Diamond Exchange. This company believes that by removing the traditional layers of profits and huge advertising costs in the jewelry industry, they can give customers more real-value diamonds and meet individual needs.

Boyet has other distinctive sales methods in China, including that after consumers buy diamonds and hold them for 36 months, they can sell them back to Boyet at the original purchase price. Diamonds can also be upgraded. For example, if 1 carat is upgraded to 1.5 carats or more, the original diamond will be redeemed at the original price and also refer others to buy diamonds and get referral commissions.

Su Ruiping, Chairman of the Board of Directors of Boyet Jewelry Trading Co., Ltd., said that from the current global diamond supply and demand trend, the price of natural diamonds will have room to rise every year in the future. Diamonds that meet their wishes will appear more valuable.

On the supply side, the global diamond supply will fall short of demand in the next four years. At present, the world's top diamond mine supply is mainly concentrated in the hands of the three major producers, and the total supply of diamonds accounts for about 70% of the global diamond supply. Of the three companies, Russia’s Alrosa and Rio Tinto Mining Group’s diamond production are expected to decline. The decline in the production of these two companies has greatly offset the increment in De Beers’ production.

On the other hand, the world's largest diamond mine Argyle, announced its closure due to increasing mining costs. Argyll is the largest diamond mine in the world, producing approximately 14 million carats of diamonds each year, accounting for two-thirds of the world's total production. It is also famous because about 90% of the world's pink diamonds are produced here.

Bain Consulting expects that before Argyll’s closure, the price of diamonds will increase by 15-20% every year. I believe that after Argyll’s closure in 2020, the price will increase by 30-50% every year. Among them, High-grade rare diamonds, including natural-colored diamonds such as yellow diamonds, have greater value-added potential.

"For consumers, diamonds and other jewelry are mainly used as ornaments, but they can also be used as an investment method." Su Ruiping explained that in the past ten years, the final auction price of rare diamonds was much higher than the initial estimate, the price of rare diamonds. The average increase was 166%.

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