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De Beers Ventures into Polished Diamond Sales
May 18, 2017 5:32 AM
By Rapaport News
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 RAPAPORT... De Beers will start selling its own polished
diamonds in auctions starting this June.
Under the pilot scheme, the miner will sell
a range of polished stones manufactured directly from De Beers rough by third-party
contractors, the company said Thursday. All the polished diamonds will carry
grading reports from both the International Institute of Diamond Grading &
Research (IIDGR) — De Beers’ in-house grading unit — and the Gemological
Institute of America (GIA).
“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,” said Neil Ventura, the miner’s executive vice president of auction
sales.
If successful, the process would give De Beers more
information about polished prices, while also helping buyers fill gaps in
supply or inventory if they were unable to find goods at the company’s rough
auctions, he added.
All registered De Beers auction buyers will be eligible to
bid in the first sale, which takes place on June 29. |
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Tags:
Auctions, De Beers, Gemological Institute of America, GIA, grading reports, IIDGR, International Institute of Diamond Grading & Research, Neil Ventura, Polished Diamonds, Rapaport News, rough diamond
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