De Beers Closes Diamond-Reselling Unit

De Beers Diamond Solitaire Jewellery

De Beers is shutting its diamond-recycling division, as digital advancements in the sector have lessened the need for its services.

The International Institute of Diamond Valuation (IIDV) was set up in 2016 to repurchase and recycle diamond jewelry that consumers no longer wanted. De Beers began the operation after noting the difficulty consumers faced in trying to sell their jewelry at a fair price. The venture provided a means of emphasizing the enduring value of diamonds, De Beers said.

However, since IIDV launched, technology in the industry has improved, and online consumer-to-consumer selling platforms have become a more popular option, the company explained.

“Following a number of years gaining experience in the diamond-recycling sector, we have taken the decision to suspend the activities of the International Institute of Diamond Valuation,” David Johnson, De Beers’ senior manager for media and commercial communications, told Rapaport News Thursday.

While the project is no longer a viable option, it has provided De Beers with valuable insight into consumer behavior and the needs of its retail partners, Johnson explained.

“We know that consumer acceptance of the consumer-to-consumer market is growing and likely to be the future of this sector, and we will therefore continue to look for opportunities in this space,” he added.

Image: Diamond solitaire earrings. (De Beers)

Source: Diamonds.net

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Diamond cleaning

Because your diamond when worn naturally attracts grease or oil, they will need periodic cleaning.

Even when touching a diamond with your fingers natural oils from your skin will change the brilliance of your diamond, making your diamond lose its lustre or brilliance.

A simple way to keep your diamond jewellery looking beautiful is a weekly bath in a household cleaning solution. A simple window cleaner will work. But make sure you give it a thorough rinsing followed by a very light brushing using an old tooth brush to remove the oils and cleaning liquid.

Pay special attention to the underside of the ring and bottom of the stone, as this is where most of the oils or hand creams accumulate.

Make sure when using a brush not to apply to much pressure especially if the jewellery is old or fragile. This is a good time to check the diamonds are tightly set and none are missing.

Never use Chlorine, bleaches or abrasives when cleaning diamonds set in jewellery. This will remove the rhodium plating on white gold and could leave scratches which will attract even more dirt.

If the ring has fine claws or filigree work an ultrasonic cleaner is necessary to remove deep encrusted dirt behind the diamonds. High frequency sound waves and jewellery detergent fluid will remove hard to get to dirt and grime. Make sure this is done by a professional to avoid damage or loss of stones.