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Idex Vs Rapnet Vs Polygon - Feedback? Recommendations?


DiamondsOfTheSun
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Hi Everyone

 

As a loose diamond buyer, I have been a member of IDEX for almost a year and would like to try another diamond buying agency. Is Polygon & Rapnet my only other two choices?

 

I was shocked that IDEX shutdown their offices (& all communications) for a week during the Indian holiday of Dawali. This is during high season for engagement ring buyers.

 

The other issue I have with IDEX is that they have no in house IT support for issues concerning integrating their inventory into your web site.

 

I welcome all your comments please.

Thank you.

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There are some private buying groups, like Jewelers of America, but you listed the 3 biggest that I know of.  Each has their strengths and each has their weaknesses.   There are probably private groups in Australia but I'm not part of the club so I'm not up on them. 

 

Polygon is expensive.  That's a double edged sword.  The downside is obvious, but less obvious is that it makes it a self selected community.  The fact that someone is in Poly is a good clue that they're serious.  Obviously with any trading arrangement, the first step is the vetting of your partner and the Internet has made this a bit more difficult.  It's hard for them to know you're legit, and it's hard for you to do the same.  Just like it always has been, relationships are built one at a time and Poly tends to acknowledge this with their conclaves, their built in system of recommendations and so on. 

 

Rap is the biggest in terms of membership.  Again, the benefit to that is obvious.  They have tons of offers and anybody who is anybody is there.  Whatever you want is probably there.  Another benefit is that Rap is run by pros. The search engine makes sense, the tech support office actually offers tech support and things like that.  Rather like all of Rapaport's various services, they do it well, they hire competent people, they fund it appropriately and they act like professionals.  That's curiously unusual in the jewelry business where things are done very casually but with Rapaport you're doing business with a machine and the machine works very predictably.  FWIW, their offices all close for Jewish holidays. 

 

IDEX is the cheapest.  Again, the benefit to this is obvious.  They're also much less US-centric.  How much less is hard to see from here, I'm in the US.  This may end up being your issue.  A platform that lists 100,000 stones where the seller won't be willing to ship to Australia is doing you no good.  

 

A lot of the big vendors have in-house systems that are free to their clients and some have very robust back ends.  Venus and Stuller for example.  This depends on what you want and things like whether or not you have, want, and can get an account with the vendor.  

 

Bear in mind, NONE of these are what I would call a buying agency although maybe that's just a language difference between Australian and American English.  These are advertising venues.  Nothing more magical than that.  

Edited by denverappraiser
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Thanks Neil for all that. I'm not really concerned about price. My priority is service and the integrity of their IT backend. 

 

Perhaps these services change their prices often because I need to correct you; Polygon is half the price I am paying for IDEX. And IDEX has an average of 200,000 stones.

 

I'm leaning toward Polygon now.

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I'm not a IDEX subscriber, mostly because of the price, so I may indeed be obsolete.  Rapnet price varies depending on how many stones you list in their database and I think there are extra fees associated with importing data into your website.  For me it's half the price of Poly but I'm there for research purposes.  I don't list or buy stones at all.  I'm pretty price sensitive.  I hear a lot of complaints about the Poly backend but, again, if what you're looking for virtual inventory for a store in Australia, I sort of doubt they're your guys for other reasons entirely.  The bright side is they routinely have generous introductory offers.  I'll bet you can get several months cheaply to try it out.

Edited by denverappraiser
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