(PRESS RELEASE) ANTWERP, BELGIUM — Get-Diamonds, the largest online B2B polished diamond listing platform, 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 ability to buy and sell diamonds through targeted sales events previously reserved for large vendors with their own single-source online platforms.
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 through 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.
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. There is no human intervention during this phase; the platform relies exclusively on an algorithm to choose the stones for the specific tender. Suppliers will then have the opportunity to approve the selected diamonds up to five days before 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 matches 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. The Get-Diamonds team provides 24/7 support throughout the process.
Eyal Shirazy, the new Executive Director of Get-Diamonds, explained, “We aspired to deliver a user-friendly solution that will bring about a significant change in the way merchants operate online today and provide an all-in-one platform. one that guarantees a risk-free end-to-end transaction process that leaves no room for confusion and concern. It was a very important step in the roadmap of our company.
Owned by the World Federation of Diamond Bourses, the Get-Diamond platform maintains the highest level of data encryption and is powered by technology innovator Lucy Platforms, the leading developer of e-commerce platforms for the diamond industry.
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“The WFDB encourages any initiative that helps our industry increase its productivity and promotes a fair and transparent trading environment that is fair to all traders,” said Yoram Dvash, President of the WFDB. “Joining forces with Hennig, an industry-leading tendering specialist and service provider, and Lucy Platforms, a leading developer of e-commerce solutions for the diamond industry, has given us helped to really create an invaluable new opportunity for the industry, by the industry.”
Get-Diamonds’ inaugural bidding will take place on Thursday, March 31, with the auction opening on March 30. Pre-registration on the platform is required and information can be found here.
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