TERMS & PROCESS OF SALES
Sales of rough diamonds will be carried out in the form of auctions among the company’s customers.
Rough are put up for auction according to the specification sent to the participants in advance. The auction is held in several rounds, the winning bid is based on the maximum price and volume of the order.
Auctions will be organized via the Internet on the website of the company. Access to the auction will be provided to auction participants. This will allow customers to carry out all the activities necessary to participate in the auction from their office premises.
Before the auction will be held rough diamonds registered for the auction will be shown to customers. Customers will also be able to participate in the auction without a preview of the goods (Blind bidding).
Bidding technology is currently being developed taking into account international practice and will allow participants:
- get the necessary assortment
- get information about each round
- see what you will buy at current prices
- get diamonds by those customers who value them the most
- get a fair market price
- speed up the closing of the transaction
The period of auctions-monthly starting from the 4th quarter and before the sale of the planned volume of extracted rough diamonds. The trading calendar is related to the seasonality of production, which begins in May and ends in September, it will be available on the company’s website in the 1st quarter of the calendar year.
Start of sales is scheduled for IV QTR of 2024.
Location of the auctions is currently being specified. Possible option:
- Russia: Moscow, Yakutsk or Vladivostok Eurasian diamond center (EWDC).
- Belgium, Antwerp, AWDC.