From CNN this morning, an interesting article on a startup for selling ‘Heartbreak diamonds’ - jewelry from relationships gone sour.

(CNN) — Joshua Opperman thought he’d met the woman he’d marry and spend the rest of his life with. But when they broke up a few years ago, he was left with a broken heart, an expensive ring and an idea that he’s turning into a business.

Opperman said he was depressed after the split and even more depressed when he tried to sell the engagement ring he’d spent most of his life savings on.

“I tried to sell the ring back where I bought it and they wanted to give me 32 percent back,” he said.

The 29-year-old real estate broker decided to open the online jewelry auction site “I Do … Now I Don’t” after reading an article about other people in the same predicament.

Jewelry is definitely ripe for online commerce:

  • offline experience for most people is so poor; online provides a more efficient market
  • gems & precious metals are commodities
  • great weight/value ratio -> shipping makes sense

In addition, providing consumers with a way to recoup investments in an auction format while helping them avoid an emotionally embarassing conversation/negotiation with a jeweler is fantastic.
An interesting point in the article is the focus on customer stories and Joshua’s desire to capture those and get them online. This is a great idea from two perspectives - search engine worthy content and drivers of conversion. This goes to the notion of aggregation +UGC being key components of any online business.

The article goes on to state that most items sell for 50-60% of retail so if you’re looking for a good deal, might be worth checking out.