35,000 Cts to be Offered in Recycled Diamond Tender

(IDEX Online News) – White Pine Trading LLC, a company specializing in recycled diamonds, is holding the first industry-wide private diamond sales event in New York. The invitation-only sale will feature more than 35,000 carats of recycled goods of various shapes, sizes and qualities.

The diamonds, which will be sold via tender, are available for viewing from April 25 to May 1.

“We afford buyers a large-scale platform featuring a broad assortment of diamonds, and we consolidate large quantities of goods and allow buyers to bid solely on what they want to purchase,” said White Pine Trading LLC CEO Benjamin Burne.

“[S]ellers will have the opportunity to leverage the depth of our experience, as we offer advice and sorting services designed to help maximize value. Additionally, we will actively work to qualify buyers that will pay sellers competitive industry prices.”

In his 2011 diamond pipeline, industry analyst Chaim Even-Zohar estimated that recycled diamonds sold back to the jewelry sector came to about $1 billion last year, which represents 4.4 percent of all polished diamonds sold at polished wholesale prices. 

White Pine buys recycled, polished diamonds of all sizes and grades, either loose or in second-hand diamond jewelry. It re-polishes chipped, damaged or poorly cut diamonds, which it then either uses in jewelry or offers for resale.