Owned by the World Federation of Diamond Bourses, Get-Diamonds, the world’s largest B2B online platform for quoting cut diamonds, is on a mission to empower all diamond traders. With a current inventory of over 1.7 million diamonds from 4,600 suppliers, with a total value of over $6.6 billion, the company has now focused on creating tenders online that will serve the entire industry. For the first time ever, vendors of all sizes will have the opportunity to buy and sell diamonds through targeted sales events previously reserved for large vendors.
The latest addition to the Get-Diamonds site, the new end-to-end online bidding service is designed to identify the most sought-after and competitive diamonds, enabling businesses of all sizes to find growth opportunities via the digital business environment. Easy to use and designed to enhance merchant exposure to a wider source of potential customers, Get-Diamonds online tenders establish a secure environment that comes with a guaranteed digital transaction and logistics process and risk-free managed by 130-year-old industry stalwart, Hennig and is powered by technology innovator Lucy Platforms.
Using industry-unique artificial intelligence technology, the process begins with selecting the most in-demand and competitively priced polished diamonds on the Get-Diamonds platform. Suppliers have the option to approve selected diamonds up to five days prior to the event. The bidding catalog will be released 24 hours before the bidding opens and all items featured will be available for auction once the bidding is launched.
At the end of the bidding, a diamond is sold if a bid meets or exceeds the reserve price set by the supplier. In the case of offers lower than the reserve, the supplier can choose to accept or refuse the offer. Once a transaction is approved and verified, a seamless logistics process begins, including stone verification, invoicing, payment, and shipping.