Diamdel Auctions Offer 695 Lots in 2009

Days before De Beers published its annual results, its daughter company Diamdel quietly announced some annual figures on its website. Diamdel, which sells De Beers’ goods to non-DTC Sightholders, offered 695 lots during the year.

While the company stated it sold a full range of rough through both its traditional direct sales channel and online auction channel, Diamdel did not disclose its total sales figures for 2009.

The 695 offered rough diamond lots were made available for sale in 75 individual auction negotiations, of which 580 lots (83 percent) were sold at their first presentation. A total of 153 bidders from Europe, the Middle East and Asia participated in these events, 88 of which won bids. This marks a rise over 2008, when 149 companies placed bids and 79 winners were announced.

To date, 134 different diamond companies have bought goods at Diamdel auctions.

Diamdel serves as an important channel for De Beers to supply the secondary market. In the past, the supply was around $500 million annually, however, in the last two years it is believed to have been less.