Polygon Founder, Boyajian Launch Trading NetworkBy Rob Bates, Senior Editor, JCK
Posted on January 10, 2011
Polygon founder Jacques Voorhees has joined with former GIA president William E. Boyajian to launch DailyDiamondReport.com, a new trading network that will feature diamonds that haven't appeared elsewhere on the Internet.
The listings for the diamonds will be supplied by the GIA and AGS labs immediately after the stones are graded. Diamond companies must agree that their stones will be listed, and that the gems will not appear on other trading channels during the time that they are appear on the website. DDR listings will be sent out to industry buyers via daily emails.
"This gives retailers a chance to see diamonds before they are all over the Internet," says Voorhees, president of DDR's parent company VeriChannel.
The listings will not include prices, although the site will let the diamond's owner and interested buyers contact each other.
"By not listing prices, it forces the dealer and retailer to talk to each other to arrive at a price," says Voorhees.
Boyajian, who is chairman of the VeriChannel board, adds that the site has benefits for dealers, too, in that it will get "their phones ringing."
"If you talk to dealers, that is what they want—for the goods to move quickly," he adds.
It is currently free to sign up for and list diamonds on the site, which intends to support itself with advertising.
In addition to Voorhees and Boyajian, the VeriChannel team includes cofounder and sales director Louis Valentine, a co-founder of GemFind.net; Teri Welsch, former customer service director of Polygon; Krista Olson, the former vice president of marketing at Polygon and group sales director of the JCK Show; and Paul DeCrette, software developer of JCKShowDirect.com.