De Beers Hosts First Auc­tion For Third-party Pol­ished Di­a­monds

Solitaire - - SPECTRUM -

Sell­ers and buy­ers of re­spon­si­bly sourced pol­ished di­a­monds trans­acted anony­mously via the De Beers Auc­tion Sales plat­form for the first time this year, when the ex­cep­tional pol­ished stones auc­tion was held on June 29th.

Buy­ers and sell­ers ben­e­fited from the con­fi­dence of us­ing the plat­form for ex­cep­tional stones and ac­cess­ing its ex­per­tise, tech­nol­ogy and dis­tri­bu­tion net­work to un­der­take sourc­ing and sales of a range of highly de­sir­able pol­ished stones.

De Beers Auc­tion Sales em­ployed its plat­form gov­er­nance rules to fa­cil­i­tate trans­ac­tions, en­sur­ing they flowed smoothly, and re­duced coun­ter­party risk as both buy­ers and sell­ers dealt di­rectly with De Beers Auc­tion Sales.

As is the case with the busi­ness’ third-party rough auc­tions, all sell­ers were re­quired to reg­is­ter and com­ply with the De Beers Auc­tion Sales Di­a­mond Trad­ing Stan­dard, which sets out strict cri­te­ria in re­la­tion to seller in­tegrity, di­a­mond prove­nance and prod­uct in­tegrity. Pur­chas­ing was open only to reg­is­tered buy­ers.

All ex­cep­tional stones avail­able for auc­tion were more than 2.5 carats in weight, or of fancy colour, and ver­i­fied by De Beers’s own In­ter­na­tional In­sti­tute of Di­a­mond Grad­ing & Re­search’s (IIDGR’s) labs to con­firm they are nat­u­ral and un­treated.

Al­most 50 ex­cep­tional pol­ished stones were avail­able at the first auc­tion, in­clud­ing: a 7.21-carat, D colour, flaw­less pear-shaped di­a­mond; a 1.57-carat fancy vivid yel­low, in­ter­nally flaw­less, cush­ion-cut di­a­mond; a 5.53-carat fancy yel­low, VS1, cush­ion-cut di­a­mond; and a 20.64-carat fancy light yel­low, VS2, cush­ion-cut di­a­mond.

The sep­a­rate auc­tions for third-party ex­cep­tional pol­ished stones oc­curred on the same day as the first auc­tion of De Beers’s own pol­ished di­a­monds, man­u­fac­tured di­rectly from its own rough. The sep­a­rate auc­tions were held backto-back, al­low­ing buy­ers to source all pol­ished on one day.

Neil Ven­tura, ex­ec­u­tive vice pres­i­dent, De Beers Auc­tion Sales, said: “This plat­form for ex­cep­tional third-party di­a­monds, and the auc­tions of De Beers Group’s own pol­ished di­a­monds, of­fer buy­ers new op­por­tu­ni­ties to pur­chase at­trac­tive, re­spon­si­bly sourced di­a­monds that have been val­i­dated by De Beers as be­ing nat­u­ral and un­treated.

“While both pol­ished auc­tion ini­tia­tives are still in the pi­lot stage, we look for­ward to the learn­ings we will re­ceive from these first events so that we can con­tinue to in­no­vate and en­hance our of­fer­ing to our cus­tomers – both buy­ers and sell­ers.”

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