Podcast: The Diamond-Pricing Prodigy

House of Diamonds claims to offer customers lower prices than the rest of the market because of its proprietary pricing algorithm. The New York-based company’s chief financial officer, Ari Jain, explained on the Rapaport Diamond Podcast how he began creating this mechanism while a sophomore at Cornell University and ended up using it for his family’s business. 

The system enables the company to analyze 3,500 diamonds per day and receive suggestions on whether to increase or decrease prices based on the market, Jain says on the episode. “It’s become a real game changer for us, because it allows us to adjust very quickly,” he notes. 

Jain joined House of Diamonds after spending summers working at the family business. Its CEO and founder, Sanjeev Jain, is Ari’s father. 

Speaking with Rapaport’s Joshua Freedman, Jain also discusses the current state of the market and why debt-free companies are having an easier time than those bearing financial obligations. He shares his views on synthetic diamonds and why Indian companies are opening offices in the US. 

Listen to the podcast here: 

This podcast is brought to you by GIA — protecting consumers and supporting the global gem and jewelry trade since 1931 through research, education, and laboratory services.