Ajay Anand, like a lot of men, found the process of choosing an engagement ring for his wife-to-be pretty bewildering. He knew he wanted a good quality, large stone, but he also wanted didn’t want to pay an exorbitant price to get one. After a 3-month long search, he settled on a 2-carat round diamond in a Tiffany setting. He proposed in July last year and the now married couple couldn’t be happier.
Ajay is also a business school graduate, and he spotted an excellent entrepreneurial opportunity during his hunt for the perfect ring. Skyscanner, Expedia, Kayak and a host of other sites can easily find you a great deal on a vacation in seconds. Why not build the same thing, but for diamonds?
And so, Rare Carat was born. Extremely easy to use and offering up an impressive list of results, it really is ‘the Kayak of diamonds’. Select your desired diamond shape, your budget, carat size and a whole host of other parameters (we’re talking every last little detail here), and the site will use IBM Watson technology to search all of the most reputable online traders. You’ll get an extensive list of diamond results that you can compare and contrast, and clicking on a result will take you directly to the full listing on the retailer’s website.
We did our own quick search using the following criteria; a princess shape diamond for $2000 or less, 0.5 – 1.5 carats, Very Good or Excellent cut, Colour F or better, Clarity VVS1 or better. We had no particular preference for fluorescence or certification body. The results? 781 different diamonds from ranging from $960 to just under $2000, with vendors including Blue Nile, Ritani, James Allen and many more. That’s a seriously extensive list to work through, and on a very brief glance there were plenty of serious contenders we’d actually consider buying.
Most importantly though, Rare Carat only searches diamonds that have been certified conflict free. They’re also working with Everledger to create a 100% fraud-proof digital ledger to track the journey of a diamond from mine to finger, including certification and transaction history. In short, this isn’t just a diamond comparison site; it aims to change the industry for the better by helping to stamp out corruption and conflict diamond trading once and for all.
Aside from that, there are plenty of other benefits to Rare Carat’s set-up. They rigorously screen their vendors to ensure they only use those with golden reputations, so you can be sure you’re buying from a good source. While they only offer white diamonds at present, they have plans to expand into other stones in future depending on demand (which is sure to be huge, we’re guessing).
If you have no idea what all those different filters mean, don’t worry; and artificial intelligence chat bot is in the works to help complete novices with their purchase. For now though (and also regardless of where you’re getting your diamond from) you should probably come armed with a basic working knowledge of diamonds.
If you’re interested in the science bit of how Rare Carat works, Ajay’s personal story, or if you want to start finding your own diamonds, head on over to Rare Carat now. You won’t be disappointed.