Selling Diamonds as a Private Diamond Holder
The CEDEX promise: All transactions on the CEDEX exchange are transparent and secure - for all parties involved, from supplier to private diamond holders and investors.
Intro
Qualification
Onboarding
Open GIA Account
Shipping
Storing
Selling
Settlement
Tracking
Disclaimer
Intro

This process is designed for users who wish to “upload” their own diamond for trading on the CEDEX diamond exchange.

First, the user will send his diamond to the GIA laboratory in Hong Kong, where a diamond certificate will be issued (even if the diamond already has a GIA/Other certificate). After that, the diamond will be collected for safekeeping with a custodian. It will also will be available on the exchange, under the user’s account. The user will be able to trade the diamond, sell it, or order its physical delivery.

The process has several stages, which we will describe in this manual, step by step.

At any time you can contact our support department for further explanation at support@cedex.com

 

Qualification

Qualified diamond holders are: any person or entity is not a Diamond supplier/ diamond company in possession of a diamond, who seeks to upload and sell their diamond via the CEDEX exchange. All diamonds must be polished & unmounted, in accordance with country restrictions with any applicable laws.

Onboarding

A diamond holder that wants to upload his diamond to CEDEX should have  an account on CEDEX.com and pass CEDEX’s KYC/AML processes. 

Open GIA Account

You now need to open an account with GIA Hong Kong.  Your diamond will be sent there, and will enter the GIA lab under your account information.

  • Please fill out the GIA Client Agreement form (You need to complete pages 1, 8 and 9) 
  • Send the signed form to: hongkonglab@gia.edu
  • The GIA lab will open an account for you, and they will reply with an account name and number.   

Once you have your account name and number, please authorize CEDEX to review your GIA account. This is required so that we could arrange to pick up the diamond from the GIA lab and transport it to the custodian.  

Now you need to notify GIA that your diamond is on its way.  Send GIA an email with your details, the details of the shipment, and the details of your diamond:

  • Please fill out this file, and attach it to your email: 
  • You should pay GIA in advance for the services
Shipping

We recommend using Ferrari Group as your carrier, to ship your diamond from the EU to HK.

Using the following email template.

  • Please fill out this file and attach it to your inquiry to Ferrari Group.  
  • You should pay Ferrari Group in advance for the services.
  • Ferrari Group will pick up your diamond from the chosen location and ship it to GIA HK. Please note that the cost of exporting and importing diamonds to HK is: $35 + 0.022% of the value of the diamond.

Ferrari Group will provide you with proof of delivery upon arrival to GIA HK.

Please be advised that Ferrari Group provides services to the following countries:

Europe
Armenia
Austria
Belgium
Czech Republic
Cyprus
France
Germany
Greece
Italy
Malta
Netherlands
Poland
Portugal
Principality of Monaco
Russia
Spain
Switzerland
UK

Americas
Brazil
Canada
Caribbean islands
Mexico
USA

Middle East
Bahrain
Israel
Kuwait
Qatar
Turkey

Africa
Mali
South Africa

Oceania
Australia
New Zealand

Asia
Cambodia
China
Hong Kong
India
Japan
Laos
Macau
Philippines
Singapore
South Korea
Sri Lanka
Taiwan
Thailand
Vietnam

Storing
  • GIA will notify you when the grading process is complete.
  • If you haven’t yet paid GIA, please do so now, via bank transfer.  Otherwise the diamond can not be collected.
  • If for any reason you wish not to proceed with the process:
  • Please contact Ferrari group and instruct them to ship the diamond back to your address. Fees may vary between locations.
  • CEDEX will instruct the custodian  to collect and store the diamond.
  • A diamond digital certificate (DDC) on Ether Blockchain will be created
  • CEDEX will notify you via email that the process was successfully completed.
Selling
  • Selling your diamond on the exchange:
    • Once the diamond reaches the custodian, it will be uploaded to the exchange and can be traded/purchased.
    • All relevant information will appear in your account, where you can also manage your inventory & bid/ask prices.
    • Once there is a match (for your exact asking price) in the system, the settlement process automatically begins.
Settlement
  • The owner will receive payment in CEDEX coins, directly to his wallet.
  • Ownership of the diamond digital certificate will officially be transferred to the buyer.
Tracking

Private diamond holders can track the entire process via the CEDEX platform’s user dashboard under  “My Account.”

Disclaimer

Users, visitors and others exposed to this website/platform may not rely on the contents of this website/platform and may not act solely based upon this content. Personal judgment must be exercised at all times with respect to diamond trading.

The website/platform may contain information obtained by third parties other than CEDEX. It is important to note that, CEDEX does not accept any responsibility for such third party information. The content of the website/platform is not intended to serve as advice or endorsement of any kind. Any event taking place within the CEDEX platform is designed for the use and benefit of registered users only. Any personal use of the website/platform is entirely at your own risk.

Users who intend to sell a diamond on CEDEX’s platform must carefully read CEDEX’s Terms & Conditions before engaging in any platform activity. The Terms & Conditions serve as the platform’s “Rule Book.” Agree to its contents, and note the following important issues before your proceed:

 

  1. Before contacting GIA, please check local laws/regulations pertaining to the exportation & importation of polished diamonds by private individuals and fill in all and any necessary export/import documents (in case of process failure) .
  2. Payment to the custodian is through your CEDEX user account. Meaning, users must have a CEDEX coin balance in their accounts.
  3. Users should understand that the current existing diamond value estimation they have (obtained either by previous GIA certification process or through any other diamond laboratory/jewelry shop (price, grading etc.) can be different from the current GIA certification process (because of downgrading, devaluation). Once the diamond leaves the GIA laboratory and is sent to the custodian, the only way to cancel the process process is to contact CEDEX and arrange  for a “physical delivery” to be made. In such a case – CEDEX will not cover any associated costs; the user will have to pay for the physical delivery in full.

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