Suppliers Compete to give you the Best Prices.
We understand that the diamond market can be highly competitive and volatile, and that sourcing diamonds can be a complex and time-consuming process. Our Reverse Auction solution is an innovative approach to diamond procurement that enables wholesale diamond buyers to purchase large volumes of diamonds to fulfil their orders at competitive prices while protecting their margins.
Our patented reverse auction system, powered by US Patent 7792723, makes it possible for diamond buyers to get the best possible prices from multiple suppliers without having to engage in tedious negotiations.
Key Takeaways
1.
One of the key benefits of our patented reverse auction system is that it enables diamond buyers to purchase in large volumes without disrupting the market. This is particularly important when it comes to orders, where diamond buyers need to source a large number of stones of specific categories. So, whether it’s 1 diamond or 500, diamond buyers can be market buyers without overheating a category.
2.
Our reverse auction system sends your demands to all your vendors simultaneously, putting them into open competition to each other to fulfil your demand. Further, our procurement system does not reveal your buying details e.g. number of stones, forecasted price you might need. This results in suppliers providing their best prices and quantity to enable them to liquidate their stock before they lose their sale to their competitor. This protects your margins and increases GMROI. You then make informed decisions based on market prices and avoid the risks of overpaying for diamonds - reducing costs and increasing profitability.
3.
Our “matching engine” automatically matches demands with newly listed diamonds that come into suppliers’ inventory. We send bid notifications to ensure that you get first dibs on the stones before they even hit the broader market.
4.
You can time your purchase over a specified period of time to reduce the amount of inventory you are holding at any given point. It allows you to buy diamonds only at the time that you need them with just-in-time delivery. This helps reduce your inventory cost.
5.
We facilitate long term contracts between buyers and diamond manufacturers of specific categories of diamonds to be delivered on specific dates. We have third-party quality control measures that ensure that each diamond passes inspection criteria set by you. This ensures you have an assured supply of diamonds enabling you to plan well in advance.
6.
In addition to the suppliers that you may already have relationships with, you can access 100s of verified suppliers in the market that have met all our compliance measures. Smaller diamond suppliers not only give you access to more diamonds at better prices but also de-risk your dependency on only a handful of suppliers.
7.
Our patented reverse auction system allows diamond buyers to send their demands to multiple suppliers simultaneously and get the best prices available in the market. By making suppliers compete with each other through our patented reverse auction system, our clients avoid the hassles of haggling on prices.
8.
The platform design offers an efficient and user-friendly interface. Diamond buyers simply send their demands to multiple suppliers, and our system takes care of the rest. Suppliers submit their bids, and the diamond buyer can compare prices and select the best offer. This eliminates the need for tedious negotiations and allows diamond buyers to focus on other aspects of their business.
9.
Our team of diamond experts has decades of experience in the market. Our patented reverse auction system can be used in combination with our White Glove Service where we provide dedicated staff for all transactions. The team takes care of QC with a third-party physical inspection team, consolidates and fulfils shipping requirements, provides a single window for payment, delivery and returns. At Liquid Diamonds, we pride ourselves on providing our customers with a level of service that is unmatched in the industry. Learn more about our White Glove Service here.
Whether you're a wholesaler, retailer, or jewelry manufacturer, we have the expertise and the tools to help you succeed in the diamond market. Our patented reverse auction system enables diamond buyers to get the best possible prices from multiple suppliers without having to engage in tedious negotiations. By using our system, diamond buyers can protect their margins, increase their profitability, and gain efficiency in sourcing diamonds for programs. Contact us today to learn more about our services and how we can help you succeed in the diamond market.
Know more about how a leading NY-based jewelry manufacturer used our Reverse Auction system to source large quantities of diamonds for a big-box retailer's program order by having suppliers compete to give them the best prices
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