|De Beers has announced that its De Beers Auction Sales division will be hosting its very first 3rd party exceptional polished diamonds auction on June 29th.
Using the De Beers Auction Sales platform, both sellers and buyers will be able to transact anonymously, says De Beers, and bid for the almost 50 available exceptional polished stones, which will be all be larger than 2.5 carats or of a fancy color.
Purchasing is open only to Registered Buyers, and all sellers are required to register and comply with the De Beers Auction Sales Diamond Trading Standard.
Also scheduled to take place on the same day (June 29th) is the first auction of De Beers Group's own polished diamonds, manufactured directly from its own rough. The separate auctions will be held back-to-back.
More details appear in the full text of the announcement which follows below:
DE BEERS AUCTION SALES TO HOST FIRST AUCTION FOR THIRD-PARTY EXCEPTIONAL POLISHED DIAMONDS
13 Jun 2017
Sellers and buyers of responsibly sourced, exceptional polished diamonds will be able to transact anonymously via the De Beers Auction Sales platform for the first time this month, when the exceptional polished stones auction is held on 29 June.
Buyers and sellers will benefit from the confidence of using the business' exceptional 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 will employ its platform governance rules to facilitate transactions, ensuring they flow smoothly, and reduce counterparty risk as both buyers and sellers deal directly with De Beers Auction Sales.
As is the case with the business' third-party rough auctions, all sellers must be registered 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 is only open to Registered Buyers.
All exceptional stones available for auction will be more than two and a half carats in weight, or of fancy colour, and verified by De Beers Group's own International Institute of Diamond Grading & Research's labs to confirm they are natural and untreated.
Almost 50 exceptional polished stones will be 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
a 20.64 carat Fancy Light Yellow, VS2, cushion cut diamond.
The separate auctions for third-party exceptional polished stones will occur on the same day as the first auctions of De Beers Group's own polished diamonds, manufactured directly from its own rough. The separate auctions will be held back-to-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."