Jewellery Technology & Machinery - JTM
Digital Tenders Utilising Sarine’s Technologies Evolving as Preferred Platform for Rough Trading

Singapore Exchange Mainboard listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce that its technology for digital tenders of rough diamonds is gaining traction, enabling the market to trade rough diamonds efficiently and safely, overcoming pandemic impediments.

Sarine’s solution provides both rough diamond producers and secondary wholesale tender houses, along with rough diamond buyers, with the ability to trade rough more efficiently than ever before. The diamonds are initially scanned on Sarine’s DiaExpert® and Galaxy® systems for external and internal mapping of their features. Once scanned an Advisor® planning file is created, which provides potential customers with the ability to plan and determine the true value of the polished diamonds that can be derived from each rough diamond, in accordance with their specific in-house criteria and priorities, thereby ascertaining on which diamonds they should optimally bid.

Stargems of Dubai, which sources rough diamonds and organises tenders, is a tender house that has now introduced this solution following the normalisation of relations between the United Arab Emirates and Israel. Bhavesh Javeri, CEO of Stargems said: “By utilising Sarine’s solution, through the Trigem service center in Dubai, we are able to provide our customers with the best service possible, providing accurate data in advance, which enables maximal confidence in the purchase.” Mr. Javeri added: “Covid-19 is definitely a catalyst for our digital tenders which have rapidly become an important platform for rough diamond sales. We are excited that using these technologies we have just set a Dubai record for the amount of sales concluded in a single tender. We are confident that our tenders with Sarine’s data provide significant value also in instances when buyers can physically inspect the diamonds, making this platform essential for business stability and prosperity not only in these uncertain times but also subsequent to the pandemic's effects becoming less acute."

David Block, CEO of Sarine Technologies, said: "We are pleased that the data we provide is enabling efficient and confident trading, contributing both to buyers and sellers. Due to the fact that our planning products have become an industry standard, rough sellers are able to reach the vast majority of the potential market by simply sending them digital files. We are proud to support the many rough producers and traders who are adopting this solution and are especially pleased that Stargems, a leading rough diamond tender house, is pioneering the use of our digital technologies in the largest tender ever held in Dubai, especially considering how we have just lately established a local representation following dramatic diplomatic developments”

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