How DODAQ is different
DODAQ is the first cash market electronic exchange for certified diamonds. It creates a transparent pricing mechanism in which each category has its own market and order book. Within that is represented the volumes and values of the buyers and sellers. This gives a greater insight into the value of a particular diamond category and the most important factor to consider is that the market participants decide how the price moves according to the values of the bids and offers.
DODAQ provides a two-way auction as opposed to a seller driven auction and uniquely offers instantaneous settlement as every diamond must first be received into the vault before being published on the exchange so its authenticity and existence can be assured. Therefore, DODAQ is neither an inventory list nor a transaction initiator, but a real cash market and due to its simplicity within a complex market place it enables new investors and revenue streams to provide extra liquidity and increase the reach of diamonds not only globally, but between sectors.
There are also obvious added advantages of using an electronic platform as opposed to physically carrying or sending inventory from place to place. Logistically it streamlines the process to one global meeting place and therefore drastically reduces the cost of marketing.
DODAQ is open to all, both within and outside of the industry, but as an anonymous exchange participants compete with each other purely based on price. Whether it is dealers, wholesalers or the wider market DODAQ brings price transparency and the ability to create an efficient marketplace for polished diamonds. As a result we can bring new revenue streams and interested participants to encourage both buying and selling which will go hand in hand with current industry practises.