Auctions - Frequently Asked Questions

1. Why is Diamdel using this new E-Auctioning route to market?
2. How do I register to bid for goods?
3. How is E-Auctioning different to the traditional tender system?
4. Is there a registration fee or a subscription to participate?
5. Who is eligible to participate in an auction?
6. How will I know when an auction is scheduled?
7. What goods will be auctioned?
8. How can I find out what goods will be coming up for auction?
9. Once I win goods on auction, are there any extra charges over and above the price for the goods?
10. How do I know that Diamdel is not manipulating the auction?
11. Are you going to give me a demonstration and show me how to use the system?
12. Do I need to have specific software loaded on my computer?
13. What about the time differences, will I have to get up in the middle of the night to bid?
14. How long will the bidding be open for?
15. Where will the goods be available for viewing before the bidding starts?

1. Why is Diamdel using this new E-Auctioning route to market?

Demand for many Diamdel products has reached a level of customer oversubscription that makes existing direct sales approaches unviable and unsustainable.

Our business strategy going forward is designed to make a wide variety of rough diamonds available to as many reputable clients in the market and as frequently as possible.

Diamdel will auction goods on a regular basis and any client who has registered interest for [those] goods will have the opportunity to bid for them.

Diamdel clients will benefit from access to more goods than ever before.

DTC goods
3rd party goods
Rough direct from producers
Special stones when available

2. How do I register to bid for goods?

If you would like to register yourself to bid for goods, you need to:

Log into the Diamdel website – www.diamdel.com
Follow the Registration link to register your company details and the rough requirements you have
Provide Diamdel with - a signed copy of the BPP document, a copy of the company registration and a copy of the Managing Director’s passport.

You will then be sent a unique user name and password to access the E-Auctioning portal.

You will be invited to any auction event for the goods you have registered an interest in. You can only bid for goods once you have registered with Diamdel.

When an auction is planned that meets your demand for goods, you will then be sent an e-mail inviting you to take part in the auction. The e-mail will also contain your unique user name and password to access the E-Auctioning portal and bid for the goods.

For any further clarification, please contact any Diamdel sales executive by calling or emailing the centre most convenient to you.

3. How is E-Auctioning different to the traditional tender system?

E-Auctioning differs from traditional tender systems in the following ways:

Diamdel E-Auctioning is a global process and participants from any part of the world can bid in auctions relevant to them [and goods may be viewed in multiple locations].
Diamdel E-Auctioning is a more transparent system as leading bids are not sealed, but are visible to all participants at the auction. Confidentiality is provided and identities are protected at all times.
With Diamdel E-Auctioning, a buyer has the opportunity to make multiple offers (as opposed to a single bid tender) on a parcel and bid as high as they wish. A buyer will not lose a parcel by a few dollars while they are willing to continue bidding.
Diamdel E-Auctioning allows buyers to start bidding conservatively as opposed to placing their anticipated top price on the goods immediately. At times, Diamdel E-Auctioning may enable buyers to buy goods for less than the highest price they would have been willing to pay. For example, a bidder may enter a Diamdel E-Auction with a budget of 100 and buy the parcel for 95 if no other participants bid higher.

4. Is there a registration fee or a subscription to participate?

There is no registration or subscription fee to participate in Diamdel’s E-Auctioning sales channel.

5. Who is eligible to participate in an auction?

Subject to meeting the De Beers BPP standards and certain exceptions, all registered customers are eligible to participate in the auctions.
You will be invited to any auction event for goods you have registered an interest in.
DTC Sightholders may not participate in Diamdel E-Auctions.
US companies may not participate in E-Auctions

6. How will I know when an auction is scheduled?

You will be invited via an email invitation:

Provided you have completed the registration process and have therefore received and username and password.
The invitation will be sent to the email address that you submitted during registration.
You will be invited ONLY to the auctions that match the goods you have registered an interest in via the online registration process.

7. What goods will be auctioned?

Diamdel will auction various products at different times of the year, depending on availability and demand.

8. How can I find out what goods will be coming up for auction?

Invitations will be issued by email to all registered customers who have indicated an interest in the goods designated for auction.
Diamdel’s website will also carry a streaming notification of all goods scheduled for auction, so customers are advised to monitor the website regularly.

9. Once I win goods on auction, are there any extra charges over and above the price for the goods?

The only extra charge that might be levied on goods won on auction are shipping and insurance charges as well as any and all taxes, duties or other charges that may be payable. This will usually be mentioned in the terms and conditions of the auction for the relevant parcel and participants will be notified about it at the time of the event [before bidding commences.

10. How do I know that Diamdel is not manipulating the auction?

The E-Auction technology is owned and operated by an external, independent professional online auction company “Curtis Fitch”, based in the UK.

Curtis Fitch, are one of Europe’s leading e-auction software development companies. www.curtisfitch.com

Diamdel and the wider De Beers Group will not have bidding access to any parcels made available for sale through E-Auctioning under any circumstances.

11. Are you going to give me a demonstration and show me how to use the system?

Yes, absolutely. The system is NOT complicated.

Participants will be given a demonstration and training on how to use the system.
They will also be equipped with a manual from ‘CurtisFitch’ to use as a reference guide.
Participants may contact their account executives for further help and support if required.

12. Do I need to have specific software loaded on my computer?

No specific software is needed on your computer. Access to the website is via web link through www.diamdel.com
As long as you have completed the registration process you will receive a unique username and password which will allow you to access the system.
We recommend the use of Internet Explorer connected to the Internet via a broadband connection.

13. What about the time differences, will I have to get up in the middle of the night to bid?

Diamdel plans to hold auctions at the most convenient times available to include the time zones of the respective participants registered for each event.

14. How long will the bidding be open for?

The bidding time frame for each auction will vary and this will be conveyed in the auction invitations sent out to participants.

15. Where will the goods be available for viewing before the bidding starts?

A viewing schedule will be distributed prior to each event.