De Beers now selling other companies’ polished diamonds

Michelle Graff

Singapore–De Beers announced that its auction sales business has launched a pilot program giving other diamond miners as well as manufacturers and traders the chance to sell polished diamonds on its auction platform.

An extension of the service De Beers began offering over the summer for rough diamonds, the polished diamond business-to-business sales service will only be for single stones weighing more than five carats or fancy colored diamonds of any size.

It also will include a three-level screening process to identify lab-grown and/or treated polished diamonds, neither of which will be sold on the platform.

Like the rough diamond service, sellers who want to put their diamonds on De Beers’ auction platform will have to comply with a range of ethical requirements, De Beers said, including the company’s Registered Seller Declaration of Compliance, Integrity and Probity.

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Source National Jeweler