YourDiamonds

Market position

The company presents itself as a startup creating the first secondary market platform for trading second-hand Argyle-sourced pink and blue diamonds, a market it describes as involving many hundreds of millions of dollars of stones held by private investors and the diamond trade. Its Head of Operations, a former Argyle mine executive, noted that the mine had produced 90% of the world's pink diamonds before closing and that prices for these stones continue to rise on constrained supply and increased demand.

The company positions itself around objective, transparent and up-to-date diamond market data delivered across mobile, tablet and desktop, allowing private buyers to assess what they should pay for a diamond and to obtain written valuations. It also claims to have created the first secondary market platform for the trading of second-hand pink and blue diamonds originally discovered at the Argyle mine, combining auction and tender expertise from its founder's background with automated SaaS valuation engines intended to underpin collateralized lending.

Technology

The platform is built around diamond pricing applications and automated SaaS valuation engines delivered across smartphone, tablet and desktop, with planned decentralized finance functionality including DeFi collateralized loans. The company states it has assembled a team of digital technology and Web 3.0 developers, blockchain lawyers, IP lawyers, digital marketing specialists, diamond industry veterans, investment bankers and statisticians. Its CTO, Sven Meyer, has a computer science research background and has developed and deployed smart contracts for various platforms; its blockchain counsel, Dr Adrian McCullagh, participates in ISO Technical Committee 307 on blockchain standards. A technology profile lists WordPress, PHP, Elementor, Apache HTTP Server, jQuery, Swiper, WP Rocket, reCAPTCHA, Microsoft 365 and Google Ads among the site's technologies.

Go-to-market

The company markets to two distinct audiences through its website: diamond industry trade members, who register free as "Founding Members" to access tools and services, and private diamond jewellery customers, who are directed to instant insurance valuations, pre-tender estimates and the pink diamond tender. It uses an email marketing list offering industry news, offers and early access to new tools, and gains visibility through physical tender roadshows in Australian cities and exhibition at international jewellery trade fairs, alongside trade press coverage.

Two primary segments: diamond industry trade members, including diamond merchants and jewellery retailers, and private diamond jewellery consumers seeking pricing guidance, insurance valuations or participation in tenders. Tender consignors have included individual owners and self-managed superannuation funds holding Argyle-sourced coloured diamonds.

Geography

Headquartered in Sydney, New South Wales, Australia, with an address at Level 7, 167 Macquarie Street. Team members are based in Sydney, Brisbane, Byron Bay, Melbourne, New York, Amsterdam and Manama, Bahrain. Tenders have to date operated within Australia, touring Sydney, Brisbane and Perth, with the 2022 tender exhibited internationally at a jewellery fair in Singapore. A jobs-board listing also associates the company with Hong Kong.

History

The company was founded in 2020 in Sydney by auction industry veteran Tim Goodman. It launched public tenders for Australian fancy-coloured diamonds sourced originally from the Argyle mine, which ceased production in November 2020; the Fitzpatrick Pink sold at the first tender in 2021 for $2.2 million. By September 2022 it was running its third tender, its first exhibited outside Australia, at the Jewellery & Gem World Singapore fair. A 2022 company website noted six diamond pricing apps available free for five years, with decentralized finance, recycled economics and auctions described as forthcoming. A company profile indicates the CEO planned to relocate from Sydney to New York in 2023.

Risks & controversies

The founder publicly described taking the entire third tender overseas for the first time as a gamble and expressed anxiety about the international launch. Company representatives stated they do not give investment advice regarding pink diamonds. Third-party directory data about the company is inconsistent, including conflicting founding years (2020 versus 2021) and employee ranges (11-50 versus 101-200).