Virtual Diamond Boutique (VDB), a gem and jewellery e-marketplace, launched a new app for B2B industry auctions entitled the VDB Online Auction House. The app launch was marked by the first-ever lab grown diamond (LGD) direct auction, with no middleman, as part of a series of inaugural auctions with lab-grown supplier Mercury Ring (a division of Unique Designs Inc. and a member of The Plumb Club).
The first grouping of 1,000 high-end, loose, 1 carat and higher, IGI-certified LGDs and LGD jewellery, will be auctioned from 8th-10th November.
“VDB is always looking for ways to connect buyers and sellers in a trustworthy environment, using our cutting-edge technology for ease and efficiency,” said Tanya Nisguretsky, President & CEO of Virtual Diamond Boutique. “VDB previously launched a successful virtual auction app for the Jewelers for Children charity during the pandemic. Now, we have created an independent platform with no middleman that will facilitate relationships, strengthen the supply chain, and create more business for all involved.” The new online auction house also offers vendors a trusted third-party platform to sell their goods directly and potentially connect with new retail partners. Vendors can utilise VDB’s existing successful technology to sell merchandise for a simple leasing fee, avoiding large investments in software development.