De Beers Group has announced that its Auction Sales business will pilot the sale of “a wide range” of polished diamonds using auctions for the first time, according to a press release by the miner.
The polished diamonds will be accompanied by both De Beers’ International Institute of Diamond Grading & Research (IIDGR) and Gemological Institute of America (GIA) grading reports.
Neil Ventura, Executive Vice President of Auction Sales, said: “We have a limited amount of a wide range of polished diamonds, so it makes commercial sense for us to trial this auction on our existing platform. We are interested in testing the level of demand from polished buyers for diamonds that have a clear and attractive source of origin, and that offer the assurance of product integrity that dual certification provides. Meanwhile, a successful auction would also generate an additional polished price reference in US dollars per carat. In addition, this will complement our existing rough auctions and enable buyers to fill supply and inventory gaps if they were unable to secure supply at our spot and forward auctions for rough diamonds”.
According to the release, “All registered buyers of De Beers Auction Sales will be eligible to bid in the auction which will take place on 29 June 2017”. For more information, visit www.debeersgroup.com/auctionsales.
