Diamdel Completes First Diamond Auction

-- JCK-Jewelers Circular Keystone, 1/29/2008 7:12:00 AM

Diamdel, a sales unit of De Beers, said it has completed its first online auction for rough diamonds Monday.

Diamdel made 16 lots available for viewing to potential buyers in several of the world’s major diamond centres, the company said in a statement. The lots were sold to 14 buyers from around the world; with bidders actively participating in Antwerp, Tel Aviv, India, and the Far East.

"We are delighted that the first auction has worked so well and in particular how we have been able to meet the needs of clients from around the world at market determined prices," said Neil Ventura, Diamdel managing director. "We are still reviewing the learning from the auction and will be talking to the participants in order to ensure the future auctions are equally successful."

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