Online coloured gemstone marketplace Gembridge has introduced new policies for listing stones on its platform with the aim of improving its disclosure, ethical practices and responsible sourcing.
It hopes this will improve the customer experience of online purchasing and increase transparency in the trade.
The new standards, Gembridge promised, ensure that the attributes of each stone are fully disclosed before transactions are made online between trusted and vetted parties.
“Our members will be asked to fully embrace the responsible, ethical and sustainable trading principles of the charter,” explained Gembridge CEO Nick Marrett.
“The charter and our Disclosure & Listing Policy will help Gembridge and the coloured gemstone market grow by making us all work better together, while also attracting a host of new players, from more buyers and resellers through to lenders and investors.
“Digital transformation of this industry is still in its infancy. By setting parameters for the digital trading of coloured gemstones, we set the foundation for the future.”
Gembridge also revealed its B2B platform will soon be expanding to B2C as well.
Helen Molesworth, Gembridge’s head of business development, said: “This commitment to professional standards and transparent communication helps our Members better understand one another, which leads to better business.
“This will ensure more accurate information with regard to the sale of coloured gemstones listed on Gembridge – and the characteristics that make them unique. All our Members will be required to commit to these policies.
“Buying accurately catalogued stones via the internet opens up new opportunities for everyone, delivering global access to gem-quality stones at affordable prices.
“Ensuring that members’ descriptions are honest, factual and accurate will give more people in our industry the confidence to embrace the trend of digitalisation.
“By setting and maintaining standards across our platform, we help Members make more informed decisions.”