The word Diamond comes from the Greek word 'Adamas' which means indestructible or unconquerable. Diamonds are all about the 4C's...Carat...Color....Cut....Clarity...The weight of a diamond is measured in carats. Diamonds come in every color of the rainbow. Diamonds have to be cut and polished to give you that brilliant shine. Diamonds have tiny birthmarks called inclusions. Lesser the inclusions, more beautiful the diamond.
Diamonds are a girl's best friend. Yes ladies, if you don't own a diamond, it's time to buy your first. But, diamonds are costly. How will you be able to afford one?
Wait...hold on....You can be a proud owner of a diamond by investing just Rs 900 a month for around two and a half years. Surprised? Read on to find out how you can be a proud owner of a diamond and add a sparkle to your life.
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Buy A Diamond For Just Rs 900 A Month
You must be wondering how you can be a proud owner of a diamond, investing just Rs 900 a month for two and a half years. The trick is a 3 letter word.... SIP.....The Indian Commodity Exchange (ICEX) has got approval from SEBI to start the World's first diamond trading bourse. ICEX will launch a systematic investment plan SIP, for you and other buyers to acquire those diamonds.
Buy a diamond through SIP's
You must be well familiar investing in mutual funds and gold funds through SIP's. Now, you can invest in diamonds through the 'Diamond SIP Scheme'. If you invest in the Diamond SIP Scheme, you have to open an account with a broker on the ICEX (Indian Commodity Exchange). You then complete the KYC (Know Your Client) process and deposit money with the broker. You then set a date with the broker (This may be the 1st of each month), when the broker will buy you the diamond in electronic form.
Diamond contracts on ICEX are of 3 different sizes. They are 30 cents, 50 cents and 100 cents. (1 carat = 100 cents). The diamonds are available in the demat form and you can buy as less as 1% of the precious diamond. You will be able to convert the diamond held in the electronic format in your demat account into physical form only if you accumulate at least 30 cents.
Through SIPs, you can also buy diamonds of 50 cents or even a carat.
A 30 cent diamond, costs around Rs 27,000 which is about Rs 900 a cent. If you pay Rs 900 a month for about 30 months, you can take possession of your physical diamond. You must remember that the monthly SIP amount can vary according to the price of the diamond listed on the ICEX bourse.
Well, if you can't pay the subsequent monthly SIP's, the holdings of the diamonds you have bought in previous months, still remain in your demat account. You can start buying more units (cents), when you wish to.
You can sell the diamond on the ICEX at any time during the SIP, at prevailing market rates.
Are these diamonds real?
Worried that your diamonds are fake? Put your fears to rest. The ICEX trades only in natural diamonds. These diamonds are certified by De Beers a global player in the diamond industry. De Beers is known for its quality, cut, polished and genuine diamonds.
The World's largest courier of diamonds Malca, handles and transports these diamonds, through its Indian arm called Malca Amit.
ICEX wants the common man to own precious diamonds. The unique diamond SIP scheme can make you a proud owner of a diamond. You can accumulate e-units of the diamonds through SIP, until you have sufficient units to buy your precious diamond. Be Wise, Get Rich.
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