Jamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
This Digital Gem Trading Platform Will Launch Early Next Year
Gembridge provides a secure business-to-business marketplace that verifies its members and stones from door to door.
Singapore—A new platform will launch early next year, aiming to provide a secure marketplace for gemstone trading.
The first quarter will see the official rollout of Gembridge, where verified members can buy, sell and consign stones via a secure and insured door-to-door service.
Behind the development of web-based Gembridge.com is industry veteran Tony Brooke, who has more than four decades of experience in the gemstone sector, as well as Nick Marrett and Mark Taylor, both of whom have more than 20 years of experience in the digital sector working with such companies as Google, Apple, eBay, Airbnb, American Express, Unilever and more.
It’s this combination of experience that the team believes sets them apart and will help make their product a success with trade members.
“We feel that we, more than pretty much anybody else, have got what it takes to really make this work,” Brooke told National Jeweler.
To register, new businesses are verified through an international KYC process, as well as a peer-review from existing Gembridge members.
After passing that process, industry companies can sell items with a listing on the platform, buy items through the showcase or list a requirement request for a specific item they’re looking for which other members can fulfill.
The items sold on the platform are shipped to members through Gembridge’s global hubs in Bangkok, Geneva, and Bahrain, where they are verified by a third party—the ICA GemLab in Bangkok, to start, but more labs are coming on board—to ensure the listing, initial gem report and stone all match.
ICA GemLab has even created a new verification report for the process with minimal turnaround time.
More hubs are also being added to Gembridge’s lineup as we speak; Brazil will be online next.
Interested parties also can opt for a secure viewing room at a hub through Brinks, where they can examine a stone, pay for it and walk away with it if they so choose.
Consignment is also an option as Gembridge provides an insurance policy allowing for that as well.
Gembridge takes a sales commission for each transaction—5 percent from the seller and 3 percent from the buyer.
In addition to partnering with Brinks for logistics, Anglo East Group for insurance, Ingenique Solutions for KYC/AML compliance and ICA GemLab for verification, Gembridge has also involved KPMG as corporate finance advisors, which put the business model together.
Gembridge is licensed to trade by
It’s because of this licensing and the access to information they receive that they can perform a “bank-level” verification of potential members, as Marrett referred to it.
It also means Gembridge can offer members more services that might have been hard to access up to now, such as financing, as banks and other institutions are more likely to sign on to partner with a platform in which its members have been vetted to such a degree.
The team launched its Minimum Viable Product in July, enlisting 25 top players of the global gem industry to test its trading platform, including KGK in India, Diamrusa and Sant Enterprises in Thailand, Crown Color in Hong Kong, RareSource in North America, Berr and Partners in Switzerland, and Jureidini Gems & Jewellery in the Middle East.
The full platform will launch in early 2021; interested trade members can pre-register now.
It will serve the wholesale business-to-business market to start, but eventually will expand to include business-to-consumer trading in the third quarter of 2021, the founders said.
They are also planning to add a consumer-to-consumer aspect eventually for those wanting to sell heirloom jewelry, for example, but are still working that part out.
The Latest
In the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
Co-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
Along with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
The man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
The videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
Feldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
The luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
The nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
Gearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
The diamond cut grade is now available for marquise- and pear-shaped diamonds.
DDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
The highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
Recent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
Carrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
The competition awarded 12 designers, each from a country where De Beers recovers diamonds, with business support and tuition assistance.
The high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.