De Beers has relocated its auction headquarters from Singapore to Gaborone, Botswana, where it has officially relaunched its auction business by organizing its first auction there.
Following the resumption of the auction business, De Beers organized a small test run for viewers during the third cycle.
The group said there was "considerable interest" in the sale, with a large number of customers viewing the lots and participating in the auction. Most of the lots were sold, with bidders coming from a wide range of regions.
Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group, said, "The active participation and results of our first auction since our relocation were encouraging, and we look forward to welcoming more customers to our events in the coming months."
De Beers plans to hold auctions for registered customers with the required licenses, with the next auction scheduled for the fourth cycle.
De Beers recently relocated its headquarters to Gaborone, effectively consolidating its diamond trading activities globally and improving operational efficiency. The move is designed to support Botswana's important position in the global diamond value chain.
Rowley said, "It is really exciting that our diamond trading operations are now officially unified in Botswana and we are confident that this move will contribute to the continued growth of Botswana's diamond industry."