Members will post stones to CMJ for monthly valuations.
White Pine Trading has joined the Company of Master Jewellers (CMJ) as a member supplier, offering its retail and supplier members a chance to recycle diamonds and diamond jewellery for cash.
The company is now set to make an appearance at the upcoming CMJ buyers’ meeting, which will be held at the Hilton Birmingham Metropole next month.
White Pine’s team of diamond valuers will be present at the event to explain the company’s services to the retailers who attend.
The company’s European director, Tim Phillips, said: “Recycling diamonds is a relatively new phenomenon and we are looking forward to explaining to the CMJ’s membership exactly how our service works and how they may be able to benefit from using us in order to gain an additional revenue stream from their unwanted stones."
The company has agreed with the CMJ that its members can send their diamonds directly to the CMJ who will securely retain each parcel on their premises for valuation by one of White Pine’s diamond experts during monthly visits.
"Each member’s large diamonds will be valued individually based on GIA grading to ensure a fair market price,” explained Phillips.
White Pine buys diamonds of all types, carat sizes and quality, offering an easy and commercial way for retailers to dispose of both larger stones and of melees of stones that may have accumulated from scrapping items or from old unwanted stock.
Smaller diamonds of less than .25ct will be valued using White Pine’s approach of sorting into size groups and determining relative proportions of each grade to generate a value for the parcel.
The CMJ will then communicate the offer to the member that has sent in the stones and, if accepted, funds will be transferred on the same day prior to the diamonds being released to White Pine.
“We are very excited to be working with the CMJ to provide a valuable and secure service to its members allowing them to release capital which may currently wrapped up in diamond stock and not particularly liquid,” said Phillips.
White Pine also offers retailers a chance to sell stones through specialist auctions and brokerage events held bi-weekly in Hong Kong and New York.
Willie Hamilton, chief executive of the CMJ, said: “Once again the collective strength of the CMJ will provide a competitive edge to the individual retailers within the group through partnership with a market leading business like White Pine.”