De Beers’ Group Auctions has introduced a new selling proposition known as the Buy Platform, which will give its registered buyers access to diamond purchases at any time in light of the current COVID-19 situation. The new selling proposition, it said, is an e-commerce offering where registered buyers can make an immediate, direct and straightforward purchase from a range of rough diamonds at any time and from anywhere, providing them with a further purchase option in addition to the existing limited-time auctions offering.
“We are constantly seeking additional ways of meeting our customers’ needs in a fast-moving world, and we are excited to launch the Buy Platform as it will provide an additional easy-to-access channel for our registered buyers to source what they want and when they want,” said De Beers’ Group Auctions head of product development and sales, Alastair Bickerstaff.
The group had previously reduced the flow of diamonds downstream as most of its mines suspended production to prepare for the coronavirus and are now operating or preparing to operate at far lower levels than normal.
It also cancelled Sight 3, provided its Sightholders with 100% flexibility to defer their purchases.
It has also cut its production forecast this year by seven million carats than initially planned.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
