Now Open for Business: De Beers’ Rough Diamonds Auction Platform

Diamond producer piloting a new concept.

De Beers announced that it has begun piloting an online auction platform through which businesses can sell rough diamonds, Rapaport writes. The article says that the service is available for single stones of more than 5 carats or fancy-color diamonds, and that the service is only available to businesses adhering to certain standards. Neil Ventura, the EVP of auction sales at De Beers, told the news outlet that the project “gives us the opportunity to test the strength of demand for such a service.”

Read more at Rapaport