Case Study: De Beers achieves market leadership in rough diamond online auctions with Curtis Fitch

De Beers - Customer Case Study

De Beers sought to transform rough-diamond sales by pioneering online auctions and becoming the market leader in auction-based diamond sales. The challenge was to build a trusted, scalable digital auction platform that met the needs of a global, diverse buyer base and shifted long-established industry sales practices.

Working with Curtis Fitch from 2008, De Beers developed and iterated online auction technologies—introducing Multiple Unit auctions in 2010 and Forward Contract Sales in 2014—and completed 792 auctions from 2008–2014. Today roughly 10% of De Beers’ global rough-diamond supply is sold via online auctions, the company holds international sales offices, and a 2013 25% equity stake in Curtis Fitch reinforced ongoing innovation and market leadership.

De Beers

Neil Ventura

Executive Vice President, Auction Sales