SourcingMay 18, 2020
WFDB Selects Board for New Diamond Trading PlatformTechnologySep 30, 2021
New Diamond Price List Promises Tech-Driven Transparency
The Diamond Price List launched in June and published its first update in September.
The new Diamond Price List launched in June and includes a price calculator app (pictured at right). Plans call for the site to add a data insights feature by year’s end.
New York—The company behind a new list for diamond prices made its trade show debut at JCK Las Vegas with the promise of providing the industry a list that is technology-based, unbiased, and transparent.
The Diamond Price List went live in June and is operated by Lucy Platforms, a Ramat Gan, Israel-based company tech entrepreneur Tomer Gil Levi founded four years ago.
In interviews conducted with National Jeweler both virtually and in person at the show, Levi told the story behind the launch of the list.
Levi is not, as he explained, a diamond dealer. His background is in tech, a booming industry in Israel, particularly when it comes to startups.
He launched Lucy Platforms with the goal of empowering another big industry in Israel—the diamond industry—with the right digital tools to buy, sell, and trade their diamonds.
He called the company “Lucy” as an homage to the song “Lucy in the Sky With Diamonds,” a fitting name for a diamond industry-focused tech company founded by a die-hard Beatles fan. “I thought to myself, this is the name,” he said.
In the company’s first few years, Levi and his employees at Lucy worked with a number of diamond companies.
Then March 2020 hit.
Many players in the diamond industry got mad at Martin Rapaport—again—over a price change.
Hundreds of diamond companies pulled their goods off the site, banding together via Instagram and vowing not to use RapNet anymore. (It should be noted that, as of press time, RapNet had nearly 1.7 million unique diamonds listed, more than it had on March 1, 2020. RapNet Chief Operating Officer Saville Stern said RapNet membership has regained pre-March 2020 levels.)
In the midst of all this, Levi said the World Federation of Diamond Bourses asked him and the team at Lucy to create a new listing website as an alternative to Rap, one that was “more robust and objective.”
Lucy made and launched Get Diamonds for WFDB in two weeks.
For various reasons, the price list element of Get Diamonds didn’t last, though the site still exists as a trading platform.
So Levi went back to work, this time taking the better part of a year to create the Diamond Price List, or DPL, which went live in June with the tagline “Your Diamonds. Your Prices.”
DPL is a tech-forward list that bills itself as being transparent, interactive, objective, and accurate. And it is free to use through at least mid-December.
“That’s what industry asked for,” Levi said. “And that’s what Lucy … brought to the table.”
Specifically, the list employs a blend of artificial intelligence (AI), machine learning, and data science algorithms to parse data received from Get-Diamonds.com as well as representative pricing information from multiple other sources to determine polished diamond prices.
Lucy’s Vice President of Sales and Marketing Miguel Martinez pointed out that the DPL also explains its methodology on the website, allowing the trade to see how it arrives at the prices it publishes.
Related stories will be right here …
The Diamond Price List went live in June and is operated by Lucy Platforms, a Ramat Gan, Israel-based company tech entrepreneur Tomer Gil Levi founded four years ago.
In interviews conducted with National Jeweler both virtually and in person at the show, Levi told the story behind the launch of the list.
Levi is not, as he explained, a diamond dealer. His background is in tech, a booming industry in Israel, particularly when it comes to startups.
He launched Lucy Platforms with the goal of empowering another big industry in Israel—the diamond industry—with the right digital tools to buy, sell, and trade their diamonds.
He called the company “Lucy” as an homage to the song “Lucy in the Sky With Diamonds,” a fitting name for a diamond industry-focused tech company founded by a die-hard Beatles fan. “I thought to myself, this is the name,” he said.
In the company’s first few years, Levi and his employees at Lucy worked with a number of diamond companies.
Then March 2020 hit.
Many players in the diamond industry got mad at Martin Rapaport—again—over a price change.
Hundreds of diamond companies pulled their goods off the site, banding together via Instagram and vowing not to use RapNet anymore. (It should be noted that, as of press time, RapNet had nearly 1.7 million unique diamonds listed, more than it had on March 1, 2020. RapNet Chief Operating Officer Saville Stern said RapNet membership has regained pre-March 2020 levels.)
In the midst of all this, Levi said the World Federation of Diamond Bourses asked him and the team at Lucy to create a new listing website as an alternative to Rap, one that was “more robust and objective.”
Lucy made and launched Get Diamonds for WFDB in two weeks.
For various reasons, the price list element of Get Diamonds didn’t last, though the site still exists as a trading platform.
So Levi went back to work, this time taking the better part of a year to create the Diamond Price List, or DPL, which went live in June with the tagline “Your Diamonds. Your Prices.”
DPL is a tech-forward list that bills itself as being transparent, interactive, objective, and accurate. And it is free to use through at least mid-December.
“That’s what industry asked for,” Levi said. “And that’s what Lucy … brought to the table.”
Specifically, the list employs a blend of artificial intelligence (AI), machine learning, and data science algorithms to parse data received from Get-Diamonds.com as well as representative pricing information from multiple other sources to determine polished diamond prices.
Lucy’s Vice President of Sales and Marketing Miguel Martinez pointed out that the DPL also explains its methodology on the website, allowing the trade to see how it arrives at the prices it publishes.
Initially, the plans are for DPL to publish four price list updates a year, though that could change based on industry feedback, Levi noted.
The platform announced its first price update in September, with prices rising across the board over the preceding three months.
According to DPL:
— The price of round diamonds rose an average of 3 percent, with the largest increase in 1.5-1.99 carat diamonds (up 5 percent), followed by 2-2.99 carat sizes (up 4 percent), and 1-1.49 carat sizes (up 3 percent).
— The price of fancy shapes rose an average of 2 percent, with the largest increase in 0.70-0.89 carat diamonds (up 3.4 percent), followed by 0.30-0.39 carat sizes (up 3.1 percent), and 0.50-0.69 carat sizes (up 2.9 percent).
— For rounds and fancy shapes across all sizes, the largest price increases were recorded in IJ colors while price increases were more consistent in the various clarities, with prices for +SI1 diamonds rising slightly more than those for SI2-I1 stones.
“The increase in the DPL polished prices arrives against the backdrop of increasing rough diamond prices since the start of 2021, some constraints on mining, manufacturing, polished diamond grading capacity, and most importantly, during a period of strong consumer and trade demand for polished diamonds,” it said.
The next update to the list is scheduled for late November.
DPL has created two other tools to be used in conjunction with the price list.
The DPL Diamond Price Calculator is an app that can calculate diamond prices according to a multitude of factors (color, cut, carat weight, shape, etc.) and allows users to compare prices, view price analytics, search GIA reports, and share the results.
It’s available for download in the App Store and Google Play for all Apple and Android Devices.
Before the end of the year, DPL plans to add a Data Insights Platform, a tool that will provide real-time industry insights on market trends, pricing and more.
The DPL Diamond Price Calculator is an app that can calculate diamond prices according to a multitude of factors (color, cut, carat weight, shape, etc.) and allows users to compare prices, view price analytics, search GIA reports, and share the results.
It’s available for download in the App Store and Google Play for all Apple and Android Devices.
Before the end of the year, DPL plans to add a Data Insights Platform, a tool that will provide real-time industry insights on market trends, pricing and more.
More on Technology
The Latest
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
MajorsApr 16, 2025
WJA Announces Board Members, New Chicago Chapter PresidentThe announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.
