VULT Overview
VULTs can be traded on Ebay or similar sites or through private channels. Owners can physically hold their VULTs or securely store them in warehouses around the world. VULT makes the retail diamond market irrelevant. For the first time in history, individuals can buy diamonds that are fully fungible, meaning one unit can be substituted for each other (within the preset denominations). VULT owners have access to transparent and efficient peer to peer markets that make buying and trading easy. VULT turns diamonds into a liquid asset, a real alternative to fiat currency and other alternative assets.
Prior to VULT, diamonds were not a true liquid asset. Diamond markets were secretive, opaque and skewed against private investors looking to buy and trade. With loose diamonds, one diamond is never an exact substitute for another, again making trading more difficult and less efficient for the investor. The VULT system solves these issues. A VULT is a true physical asset: highest-quality GIA-graded diamonds are held in a high security case made of sintered zirconium. The case is highly portable and tamper-resistant. The integrity of each VULT can be verified using a multi-factor authentication system with proprietary optical recognition technology.
VULT Diamonds
Each VULT diamond carries a unique, laser-engraved GIA diamond grading report number. Once placed in a VULT unit, a multi-layered digital authentication process allows VULT owners to verify the diamonds held inside each VULT — whether the VULT is privately held or securely stored. The authentication process involves optical signature recognition and verification systems. American Diamond Mint guarantees that the diamonds contained in VULT are exactly as listed at the time of the products manufacture.
American Diamond Mint has a zero-tolerance policy toward the use of conflict diamonds; all diamonds we purchase for use in VULT products are warrantied to be conflict-free through strict compliance with the Kimberly Process. American Diamond Mint sources all polished investment-grade diamonds for VULTs from compliant diamond manufacturers and traders. Without exception, these suppliers have the documentation to ensure that the original rough diamonds from which the diamonds were cut and polished, were purchased through responsible and legal channels. Since 2011, the Kimberley Process (KP) Certifications System, a body that operates with the support and in close cooperation with which operates the United Nations, governments, and NGOs, monitors rough diamond mining and exports to prevent the trade of illegal diamonds. In the United States, the enforcement of the KP requirements is the responsibility of the US Customs Service, by means of the US KP Authority (https://www.uskpa.org/), which actively enforces the Kimberley Process as diamonds arrive at American entry points. In addition, VULT’s suppliers follow the System of Warranties created by the World Diamond Council Under this system, all buyers and sellers of both rough and polished diamonds must make the following affirmative statement on all invoices: “The diamonds herein invoiced have been purchased from legitimate sources not involved in funding conflict and in compliance with United Nations resolutions. The seller hereby guarantees that these diamonds are conflict free, based on personal knowledge and/or written guarantees provided by the supplier of these diamonds.” For more information, go to www.diamondsfacts.org.
VULT Case
Each VULT case is made from sintered zirconia and has a single sapphire crystal cover. Each case has an unalterable and unique, laser-engraved serial number.
VULT Pricing
Initially, VULT denominations are based on the U.S. dollar. The prices for the five VULT units are: For each denomination, prices may vary, based on the underlying value of the VULT diamonds according to market fluctuations. Each GIA-graded diamond in a VULT unit has a market value; these values are available worldwide and can be used as part of the negotiated price between buyers and sellers.
VULT Authentication
Owners can use the VULT app (available for Apple and Android products). Owners must enter the unique VULT serial number engraved on the front of each unit. A multi-factor identification and authentication process is built into the VULTs and is part of the authentication platform. Verification includes optical signature recognition processes. If you buy a VULT from a previous owner, you may easily authenticate it with the website and app.
VULT Security
Extremely secure. Each VULT unit contains:
VULT’s multi-factor authentication and identification process makes it virtually impossible to substitute or alter the diamonds in VULT. You can remove the diamonds from VULT, but doing so compromises the integrity of all authentication. American Diamond Mint guarantees that the diamonds contained in VULT are exactly as listed at the time of the products manufacture.
VULT Size & Portability
Tax Issues
VULT as an asset class
Prices are always determined by seller and buyers. For the individual the biggest problem with diamonds is knowing what you are buying and selling. While the overwhelming majority of diamonds are traded without any grading reports, VULT only purchases diamonds that have been graded by GIA (the Gemological Institute of America), the world’s foremost authority in gemology and the world’s leading gemological laboratory. GIA’s grading methods, practices and nomenclature are viewed as an industry benchmark and the wholesale diamond markets employ this benchmark to set its prices.
Vult Privacy
The VULT is your personal and private property. Unlike virtual goods that may be rendered illiquid, the diamonds within your VULT are yours.