Lucara Diamonds' Clara Diamond Solutions has entered into a Collaboration Agreement with Sarine Technologies, the world’s leading developer of technologies for the diamond industry.
Clara will be the exclusive, worldwide customer for customised interfaces and versions of Sarine's Galaxy inclusion mapping technology and its Advisor optimal rough planning for use with Clara’s 100% owned, proprietary digital diamond sales platform.
Clara is on track to launch in 2018, with inaugural rough diamond sales set to commence in the third quarter.
“Clara is delighted to be partnering with Sarine in a ground-breaking Collaboration Agreement that will align Sarine and Clara in their efforts to create a new, leading sales channel for rough diamonds globally," comments Lucara Diamonds CEO, Eira Thomas.
"Sarine is the industry leader in diamond Galaxy® scanning and Advisor® planning technology, which is in widespread use in the diamond industry today.
"Using these technologies in combination with our proprietary analytics, Clara will sell rough diamonds on a stone by stone basis, based on a customers’ specific requirements and needs, aligning rough diamond production to polished demand and unlocking significant value throughout the diamond pipeline," continues Thomas.
How Clara works
Clara uses proprietary analytics together with the latest cloud and blockchain technologies to sell diamonds individually, based on polished demand, transforming the sales process, driving efficiencies and unlocking value for diamond producers and manufacturers alike.
Under the exclusive collaboration agreement with Sarine, selected diamonds recovered at a mine site will undergo Galaxy inclusion mapping, creating a digital fingerprint that will be uploaded to the Clara platform.
Simultaneously, diamond buyers will be uploading their specific polished diamond
requirements in terms of size, cut, color and quality for their specific needs, creating an ‘order’ within Clara.
Clara will use Sarine’s Advisor optimal rough planning technology together with proprietary analytics to match individual, scanned rough diamonds to the buyers optimal polished requirements.
By eliminating the “batch” style sales process, which is focused on selling diamonds in assortments and can only ever achieve “average” prices, Clara sells diamonds individually and achieves the best possible price for each diamond.
Lucara Diamonds notes that diamonds will be uploaded for sale as soon as they are recovered from the mine and processed through the Sarine Galaxy scanning and Advisor planning technology.
Batching of rough diamonds for tender, auction, and site allocation will no longer be necessary, eliminating inventory carrying costs and smoothing out revenue streams.
In addition Lucara Diamonds points out that equally transformative for the manufacturers and retailers, Clara will facilitate diamond sales on a stone by stone basis, allowing customers to purchase only those rough diamonds that meet their specific manufacturing requirements, eliminating the need to re-trade and finance unwanted inventories.