A diamond-industry-wide exhibition of recycled polished diamonds in New York City netted a total of $5 million in sales last month, Diamond News reports. Diamond trading company White Pine organized the event, which took place between March 24 and May 1.
The company reported that more than 90% of the lots offered for sale were purchased over the course of the exhibition from among dozens of diamond buyers from around the world who were in attendance.
White Pine chief executive officer Benjamin Burne acknowledged the overwhelming success of the event, noting the strong buyer demand and the high prices that were paid for the recycled merchandise. Burne also noted that the sales event gave White Pine an opportunity to showcase its own in-house advising and diamond sorting services.
White Pine plans to host another event of this kind in just a couple weeks' time, from May 21 to 24, but admission will be by invitation only.