De Beers to hold first auction for third-party exceptional polished diamonds

Albert Robinson

De Beers is to allow traders in exceptional polished diamonds to anonymously use its auction sales platform for the first time when it holds its exceptional polished stones auction on June 29.

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, the firm said.

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 color, 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.

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Source Idexonline