De Beers Auction Sales to host first auction for third-party exceptional polished diamonds
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.”
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About De Beers Group
De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit www.debeersgroup.com.