Get-Diamonds to launch online tenders for polished diamonds

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Get-Diamonds, the world’s largest B2B online platform for listing polished diamonds, has now turned its focus on creating online tenders that will serve the industry.

For the first time, suppliers of all sizes will have the opportunity to buy and sell diamonds through targeted sales events, previously available only to large suppliers with their own, single-source online platforms.  The company has an inventory of more than 1.7 million diamonds from 4,600 suppliers, totaling over $6.6 billion.

The latest addition to the Get-Diamonds site, the new end-to-end online tenders service is designed to pinpoint the most sought-after and competitively priced diamonds, allowing businesses of any size to find growth opportunities via a digital trading environment. Easy to operate, as well as built to enhance traders’ exposure to a wider source of potential clients, Get-Diamonds online tenders establish a secure environment that comes with a guaranteed, risk-free digital transaction and logistics process managed by 130-year-old industry stalwart, Hennig.

Utilizing industry-unique AI technology, the process begins with the selection of the most in-demand, 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 event. Suppliers will then have the opportunity to approve the selected diamonds up to five days prior to the event. The Tender Catalog will be released 24 hours prior to the tender opening and all items presented within will be available for bidding once the tender begins.

When the tender ends, a diamond is sold if a bid matches or exceeds the reserve price set by the supplier. In the case of bids being lower than the reserve, the supplier may choose to accept or decline the offer. Once a transaction is approved and verified, a seamless logistics process commences, including stone verification, invoicing, payment, and shipping. The Get-Diamonds team provides 24/7 support throughout the entire process.

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Eyal Shirazy, the newly appointed Executive Director of Get-Diamonds, explained “We aspired to bring a user-friendly solution that will make a significant change in the way traders operate online today and provide an all-in-one platform that guarantees a risk-free end-to-end transaction process that leaves no room for confusion and concerns. That was a very important milestone in our company’s roadmap.”

Owned by the World Federation of Diamond Bourses, the Get-Diamond platform maintains the highest level of data encryption, and is powered by tech innovator Lucy Platforms, the leading developer of e-commerce platforms for the diamond industry.

“The WFDB encourages any initiative that helps our industry grow its productivity and promotes a fair and transparent trading environment, equally for all traders,” shared Yoram Dvash, President of the WFDB. “Joining forces with Hennig, a leading industry tender specialist and service provider, and Lucy Platforms, a leading developer of e-commerce solutions for the diamond industry, helped us to really create an invaluable new opportunity for the industry, by the industry.”

Get-Diamonds inaugural tender will take place on Thursday, March 31st, with bidding opening on March 30th. Pre-registration on the platform is required and information can be found here.