Lucara Diamonds has successfully launched its first digital sales platform. This was carried out through Clara Diamond Solutions, its 100% owned digital sales platform. According to media reports, the final matching was completed on 16 December 2018.
Furthermore, a total of seven manufacturers participated in the sale. Among these, five matched and received their orders. In a released statement, the diamonds successfully matched to orders generated revenue of US $660.865. This achieved +8% over Lucara’s market price and +15% over Lucara’s reserve price for these goods.
Similarly, goods of approximately similar value have been set aside for the next sale, scheduled to take place later this month. Moreover, diamonds will be added onto the platform in the coming weeks gradually, as additional manufacturers are on-boarded and in response to increasing variety and size of orders received.
In time, as supply and demand is optimized, Lucara will progress into continuous sales of appropriate, qualifying goods through Clara. Further, Lucara will continue to augment its overall sales strategy through a combination of Clara and its regular tender process.
Lucara CEO Eira Thomas said that the trial sale marks a momentous milestone for Clara. She further pointed out that it is also a confirmation that the platform is commercially viable. Ms. Thomas added that as delighted as they are that the set preices were achieved for the rough diamonds this first sale, the company’s longer-term value will be realized through its’ scalability. That is, increasing the volume of rough diamonds transacted by adding production from other global diamond producers.
Furthermore, they are currently accepting additional manufacturers on board. Lucara is also in active discussion with a number of leading diamond producers who are also interested in trialing the platform in 2019.