Lucara’s first sale through Clara realises US$ 660,865
Lucara Diamond Corp. has stated that its inaugural diamond sale through Clara Diamond Solutions, its 100 per cent owned digital sales platform, was successfully launched on Friday, November 30 and final matching was completed on December 16, 2018.
A total of seven manufacturers participated in the sale, five of whom matched and received their orders. All told, diamonds successfully matched to orders generated revenue of US$ 660,865, achieving +8 per cent over Lucara’s market price and +15 per cent over Lucara’s reserve price for these goods.
According to Lucara, goods of approximately similar value have been set aside for the next sale, scheduled to take place later this month. 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.
Eira Thomas, CEO commented: “This trial sale marks a momentous milestone for Clara. On November 30, Clara successfully initiated its inaugural diamond sale with positive results, confirming that the platform is commercially viable. Though we are delighted with the prices achieved for the rough diamonds sold in this first sale, Clara’s longer-term value will be realised through its’ scalability, increasing the volume of rough diamonds transacted by adding production from other global diamond producers.”
She added that the onboarding of additional manufacturers is continuing and Lucara is in active discussion with a number of leading diamond producers who are also interested in trialing the platform in 2019. “We want to thank all of our partners for their enthusiasm and commitment to the trial and for embracing the opportunity to innovate and modernise the diamond sales process to increase consumer confidence and unlock value for all participants in the value chain.”
This first trial sale, which was conducted in partnership with a select group of large vertically integrated jewelry houses and global diamond manufacturers was designed to demonstrate that Clara can unlock significant value throughout the diamond pipeline, by facilitating rough diamond sales on a stone by stone basis, based on specific polished demand. Clara will utilize the results of this inaugural sale to help optimize the quantity and selection of rough diamonds offered in the short term, as the platform moves into continuous sales and more participants are on-boarded.