Gepco, Ltd.
announced that its subsidiary, GemVest, Ltd., has completed its first sale of
an investment-grade diamond.
GemVest sold a 6.01
carat, round cut, nearly colorless diamond, which was independently GIA graded
as “G” in color and SI1 in clarity. GemVest had no exposure on the stone, which
was taken in on consignment and sold for $195,000 on behalf of a third party.
GemVest’s profit on the sale was 21.875 percent. This transaction put GemVest
weeks ahead of schedule in making its first sale.
“The decision to
take in a limited amount of consignment inventory as an additional source of
revenue is proving a good strategy,” said GemVest CEO Peter Voutsas.
The market is solid
for investment-grade stones, and prices are increasing. Consignment sales are
not the GemVest’s main focus, but this first sale indicates that consignment
sales offer a good upside with no exposure and should be included in the
company’s business model going forward.
GemVest is engaged
in selling and brokering high-end rare investment grade diamonds and gemstones,
which are obtained from the two principal sources of international wholesale
diamond cutters, with whom company CEO Voutsas has longstanding relationships,
and individuals and estates seeking liquidity for investment-grade diamonds and
heirloom quality jewelry.
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