19 September 2018
Home Page About Us Services Publications Links
VIEWS
TACY'S MEMO
Opinion
Analysis
NEWS
Mining & Exploration
Rough Trade
Polished Wholesale & Manufacturing
Retail
Governmental
Labs & Trade and Industry Bodies
Branding & Marketing
Legal
Financial
Diamond Pipeline
Statistics
ARCHIVE NEWS - PRE 2008
People
Regional Issues
Created Diamonds
Civil Society
Ethics
Development Issues
Conflict Diamonds
Auctions
Kimberley Process
DIAMOND INTELLIGENCE BRIEFS
Diamond Intelligence Briefing 2017
Diamond Intelligence Briefing 2016
Diamond Intelligence Briefing 2015
Diamond Intelligence Briefs 2015
Diamond Intelligence Briefs 2014
Diamond Intelligence Briefs 2013
Diamond Intelligence Briefs 2012
Diamond Intelligence Briefs 2011
Diamond Intelligence Briefs 2010
Diamond Intelligence Briefs 2009
Diamond Intelligence Briefs 2008
Diamond Intelligence Briefs 2007
Diamond Intelligence Briefs 2006
Diamond Intelligence Briefs 2005
Diamond Intelligence Briefs 2004
Diamond Intelligence Briefs 2003
Diamond Intelligence Briefs 2002
Diamond Intelligence Briefs 2001
Diamond Intelligence Briefs 2000
Diamond Intelligence Briefs 1999
Diamond Intelligence Briefs 1998
Diamond Intelligence Briefs 1997
Diamond Intelligence Briefs 1996
Diamond lntelligence Briefs 1995
Diamond lntelligence Briefs 1994
Diamond Intelligence Briefs 1993
Diamond Intelligence Briefs 1992
Diamond Intelligence Briefs 1991
Diamond lntelligence Briefs 1990
Diamond lntelligence Briefs 1989
Diamond lntelligence Briefs 1988
Diamond lntelligence Briefs 1987
Diamond lntelligence Briefs 1986
Diamond Intelligence Briefs 1985
Diamond Intelligence Briefs 1984
TACY RESEARCH
Tacy's Reports
Tacy's Research
Tacy's Presentations
RESOURCE LIBRARY
Company Reports
Kimberley Process
NGO Reports
Government Reports
Conflict Diamonds
Producer Marketing Documentation
Trade Organization Guidance
Supplier of Choice
Legal Issues
LEGAL
Laws and Regulations
Court Documents
Anti-Money Laundering
Best Practice Principles
Compliance
Competition
Banking
FINANCE
Basel II
Compliance
Decisions
PICTURES
Botswana
De Beers Archive Pictures
Conference Photos
India
Zimbabwe
SITE MAP
MY ARTICLES
created by CyberServe
 Email this      Printer-Friendly Format    
DE BEERS’ ANNOUNCES PILOT AUCTION OF OWN POLISHED DIAMONDS
23 May 2017
The De Beers Group has announced that its Auction Sales business is launching a pilot auction for the sale of its own polished diamonds, manufactured directly from De Beers' rough diamonds.

All registered buyers of De Beers Auction Sales will reportedly be eligible to bid in the auction, which is set to take place on June 29th.

The full text of the announcement with further details follows below:

DE BEERS TO AUCTION POLISHED DIAMONDS MANUFACTURED DIRECTLY FROM ITS OWN ROUGH

18 May 2017

De Beers Group today announced its Auction Sales business will pilot the sale of its own polished diamonds using auctions for the first time. The sale will comprise a wide range of polished stones manufactured directly from its rough diamonds.

The polished diamonds are available following contract manufacturing of De Beers Auction Sales rough diamond products to assess what range of polished diamonds they would produce. The polished diamonds will be accompanied by both International Institute of Diamond Grading & Research (IIDGR) and Gemological Institute of America (GIA) grading reports.

The pilot auction will give De Beers' Auction Sales business the opportunity to assess customer demand for buying polished diamonds through this channel.

Neil Ventura, Executive Vice President of Auction Sales, De Beers Group, 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."

De Beers occasionally uses a third party contractor to cut and polish some of its rough diamonds to better understand to what extent they are delivering customers' polished outcome requirements.

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 on De Beers' Auction Sales business and how to register as a buyer, visit www.debeersgroup.com/auctionsales.
   Back»