NEW YORK, Jan. 19, 2017 (GLOBE NEWSWIRE) -- Blue Nile (NASDAQ:NILE), a leading online jeweler, announced today that it has partnered with Mondiamo, an innovative e-commerce company, to introduce a disruptive service that enables consumers to sell their diamond jewelry for cash through a simple and transparent process. This strategic cooperation, test launched since June 2016, has already successfully assisted thousands of consumers to realize the true value of their diamond jewelry.
The estimated value of diamond jewelry owned by consumers globally exceeds $1 trillion, with owners selling diamond jewelry worth billions of dollars annually. The diamond jewelry second-hand market, dominated by pawn and jewelry stores, has traditionally fostered a stressful and an opaque selling experience, with little to no transparency around the true value of the product.
Mondiamo introduces an innovative way to sell diamond jewelry with an emphasis on service, value, and transparency by combining a customer-centric approach, advanced pricing data analytics, cutting-edge digital technology, and decades of industry knowledge.
Mondiamo uses Blue Nile’s live pricing data for GIA-graded diamonds to accurately and transparently create a guaranteed cash offer range for diamond jewelry, sight unseen. Mondiamo then sends customers a free and fully-insured shipping kit to send their diamond jewelry to its evaluation center for inspection and final offer value. To date, 100% of the transactions resulted in customers receiving a higher cash payment than the minimum offer value. Funds are typically transferred within one business day following Mondiamo’s receipt of the jewelry. Customers can be confident they will receive more value for their diamond jewelry from Mondiamo versus traditional resell methods, all from the comfort and convenience of their home. Mondiamo’s service is currently available only in the United States and Canada with plans to expand globally.
“One of Blue Nile’s guiding principles is to provide transparency to consumers so they can make a diamond purchase that’s right for them, and this partnership with Mondiamo provides that transparency to those who wish to sell their diamond jewelry,” said Blue Nile Chairman, CEO and President Harvey Kanter. “Blue Nile has one of the largest inventories of GIA graded diamonds in the world, which makes us the most reliable place to buy high-quality diamonds, and now with Mondiamo, to sell diamonds at tremendous values.”
“Mondiamo’s customer-centric solution, unlike current alternatives in the market, provides the seller with accurate pricing data and a transparent fee structure,” said Ori Levy, CEO of Mondiamo. “We are proud to announce our partnership with Blue Nile. We share their values of customer empowerment and service. We are committed to improving our technology platform and services and plan to constantly introduce new features, all of which are aimed to enhance customer experience.”
Ready to try Mondiamo? Visit www.mondiamo.com.
About Blue Nile, Inc. (Nasdaq:NILE)
Blue Nile, Inc. is a leading online jeweler. The company offers a smarter way to buy engagement rings, wedding rings, and fine jewelry by providing in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. Blue Nile has some of the highest quality standards in the industry and offers thousands of independently graded diamonds and fine jewelry at prices significantly below traditional retail. Blue Nile's shares are traded on the Nasdaq Stock Market LLC under the symbol NILE. More information about Blue Nile can be found at www.bluenile.com.
About Mondiamo
Mondiamo offers consumers a simple and transparent way to sell their diamond jewelry. Leveraging decades of industry knowledge, advanced pricing data analytics, cutting-edge digital technology and a customer-centric approach, Mondiamo is transforming the diamond jewelry buy-back market by empowering sellers to discover the true market value of their diamond with the highest standards of service. Mondiamo is an affiliate of Adama Partners, a New York-based venture firm that focuses on the global diamond, gemstone and jewelry industry. More information about Mondiamo can be found at www.mondiamo.com.