Divine Solitaires ushers in era of transparency with diamond’s trust

Diamonds are indeed the woman’s best friend, but the market is yet to make it reliable during rainy days. There is a lot of inconsistency in price despite the array of assurances each and every laboratory gives with their tested products over points of sale. Gold has enjoyed unrivalled trust as a precious metal to be used to seek loans. Divine Solitaires is solving this huge pain-point with its initiative to provide loans against the brand’s diamond jewellery.

After 10 months of liaison with various non-banking financial institutions, the solitaire brand has created a safety net for its customers across ages. Listed institution MCFL is the third party providing loans in exchange of diamond jewellery with a starting slab of Rs 3 lacs. This amount can be processed within 48 hours of submitting the product and documentation. “Loan amounts above this slab can also be availed through the same documentation process with a little longer time period. This has only been possible because of added assurances with Divine Solitaires product,” said Jignesh Mehta, founder, Divine Solitaires.

Spread across 90 cities and 175 retail brands in India, Divine Solitaires is providing complete buyback through cash for its diamond jewellery kept to seek a loan in exchange. The loans can be repaid through EMIs in 3,6,9 and 12 months durations respectively. “Unlike Rapaport that provides current market rate of your diamond, we provide complete buyback at the same amount anytime later, thus safeguarding the emotions associated with a DS diamond jewellery product. We launched this facility three months before and this has turned out to be a blessing for consumers during the pandemic,” Mehta maintained.

This is because buyers are getting the assurance of the 123 parameters of diamond from Divine Solitaires, the standard quality of hearts and arrows, the loan amount in hand and the assurance of buyback any time. This, according to Mehta, has been impossible with even certified diamonds from industry-standard laboratories because of the glaring difference in price of diamonds of same cut, colour and clarity. “NBFCs were hesitating to give loans even against GIA-certified diamonds due to the price difference. With Divine Solitaires’ initiative, we have successfully replicated the trust gold enjoys in terms of liquidity. Buyers across financial scale and requirements are getting benefited from this,” he concluded.

Courtesy: Retail Jeweller India News