Rough Diamond Auctions at Diamdel’s New Website

Diamdel has launched a new website, with the aim of auctioning rough diamonds in “Diamdel E-Auctions.” The main feature of the site (www.diamdel.com) is the Diamond Trading Portal where registered companies will be able to participate and bid for rough.

The firm, a subsidiary of De Beers that supplies the secondary market, is not limiting the auctions to its own goods, inviting rough diamond sellers to contact it.

The E-Auctions are planned to start January 28, and the first auction will feature a 750 carat rough diamond, Diamdel assortments and DTC goods.

The online auctions, which will include goods that are not its own, mark a shift in Diamdel’s direction. Before its restructuring and downsizing, the rough trader sold mostly De Beers goods, but also bought goods on the market to satisfy client demands.

Adding online auctions, according to Diamdel, follows demand that “reached such levels of oversubscription” that it “believes the most efficient way for those goods to be sold is via market determined distribution and prices.”

The details of goods to be auctioned, viewing dates and Diamdel E-Auction rules will be made available online to registered customers.