Advanced Search

De Beers Ventures into Polished Diamond Sales

May 18, 2017 5:32 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
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.
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
Similar Articles
Sothebys black diamond 140Sotheby’s to Auction 555.55ct. Black Diamond
Jan 17, 2022
A 555.55-carat black diamond believed to originate from outer space will go under the hammer without reserve
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.