Hosts the first ever fully transparent lab grown diamond auction series.
Virtual Diamond Boutique (VDB), the jewelry industry’s leading technology partner and largest virtual marketplace, announces the launch of its all-new app for B2B industry auctions entitled the VDB Online Auction House. To launch the new app, VDB will host the first-ever lab grown diamond 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, lab grown diamonds, as well as lab grown diamond jewelry, will be auctioned from November 8 – 10, 2021 with all final bids due by 5:00 pm ET on November 10th. The auction promises a significant savings for industry buyers and a chance to acquire top quality lab grown diamonds for deeper discounts than normal distribution channels.
“VDB is always looking for ways to connect buyers and sellers in a trustworthy environment, using our cutting-edge technology for ease and efficiency,” says 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 utilize VDB’s existing successful technology to sell merchandise for a simple leasing fee, avoiding large investments in software development.
Following the inaugural November auction, VDB will host a second Mercury Ring auction on the app in December and yet another in late January 2022. Mercury Ring is a one stop shop for loose lab grown diamonds and lab grown diamond jewelry. Based in Secaucus NJ, on a 75,000 square foot establishment which houses a manufacturing facility, showroom and marketing department, corporate offices, and more, Mercury Ring is currently the leading wholesale house for Lab Grown Diamonds.
“We are extremely excited to launch this special auction site with VDB. Our vertical integration and strong infrastructure, along with VDB’s technologically advanced team of experts, will make this a truly successful venture,” says Ateet Shah, President of Mercury Ring. This series of auctions will broaden the esteemed brand’s exposure to jewelry retailers and wholesalers and make their product more accessible to potential new buyers, given the discounted starting prices.
The successful VDB app is already serving the industry as a year-round virtual marketplace for mined diamonds, colored gemstones, lab grown diamonds, and fine jewelry. Their SaaS (Software as a Service) solutions turn that functionality into customizable tools for retailers, wholesalers, designers, and trade organizations. The new online auction house app is another VDB tool to connect buyers and sellers with their fully integrated search functionality. Bidders looking for a specific type of lab grown diamond will be able to input their search criteria to find the right assortment of stones prior to bidding, instead of searching through every item up for auction.