Recycled Diamond Tender Tops $5 Million

(IDEX Online News) – Recycled diamonds are a growing source of diamonds for traders since the 2008 economic crash and since became a focus for a number of companies in the industry that now specialize in it. One such company, White Pine Trading, recently sold more than $5 million worth of recycled diamonds.

This was White Pine’s first such sales event. More than 50 diamond buyers from around the world took part in the sale in New York.

When the dust settled, they had bought more than 90 percent of the offered lots.

“We are very pleased by the strong response we received and the excellent prices achieved,” said CEO Benjamin Burne.

“The event allowed us to showcase our industry-leading sorting and advisory services, which are designed to maximize value for both buyers and sellers."

The company plans to hold another invitation-only tender, scheduled for May 21-24. White Pine said it expects to regularly host such sales events.