Below a brand new pilot program, De Beers Group will begin promoting its polished diamonds by the group’s on-line public sale enterprise.
In keeping with the corporate, a variety of polished stones manufactured straight from De Beers’ tough inventory can be supplied.
A De Beers spokesperson advised Jeweller the diamonds out there on the market would “mirror the fabric produced from manufacturing a broad vary of De Beers tough diamond merchandise”.
“Whereas the volumes will likely be restricted, the vary of products out there on the market will cowl a large spectrum of sizes, colors, clarities and cuts,” the spokesperson stated.
All diamonds would carry grading experiences from De Beers’ Worldwide Institute of Diamond Grading and Analysis (IIDGR) and the Gemological Institute of America (GIA).
De Beers Public sale Gross sales government vice chairman Neil Ventura stated the pilot program would assist assess the buyer demand for getting polished diamonds by its on-line public sale channel.
“We have now a restricted quantity of a variety of polished diamonds, so it makes business sense for us to trial this public sale on our present platform,” Ventura stated.
“We’re all for testing the extent of demand from polished consumers for diamonds which have a transparent and engaging supply of origin, and that provide the reassurance of product integrity that twin certification gives.”
He added this system would give the corporate extra details about polished costs, whereas aiding consumers to “fill provide and stock gaps” in the event that they have been unable to supply items from the corporate’s tough auctions.
Testing new alternatives
The De Beers spokesperson additionally said that no time restrict on the pilot had been set as the corporate wished to overview the “energy of demand”.
“Whether or not we take it [the pilot program] ahead will likely be guided by our prospects’ response to it. If it’s profitable then we could have established a brand new initiative that’s of profit to us as a enterprise in addition to to the broader business,” the spokesperson stated.
As beforehand reported by Jeweller, De Beers launched one other pilot program in November final yr that allowed third occasion firms to promote polished diamonds by its on-line public sale enterprise.
The pilot program was an extension of its scheme that launched in June 2016, which enabled diamond miners, producers and sellers to make use of De Beers’ on-line public sale platform to seek out consumers for sure kinds of tough stones.
Registered De Beers public sale consumers will likely be eligible to bid within the first polished diamond sale, scheduled to happen on 29 June.
The corporate historically sells about 90 per cent by worth of its tough diamonds by its World Sightholder Gross sales enterprise, whereas the remaining 10 per cent is obtainable to registered consumers by way of the web public sale platform.
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