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07.27.2017 Metal Prices
Gold1,261.10
Silver16.43
Platinum931.00
Palladium879.00
Iridium970.00
Ruthenium65.00
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FAQ - Diamond Auctions

GENERAL FAQ

Who can participate in the Harmony Diamond Auctions?
Any member of the diamond and jewelry trade that provides the required registration forms.

Do I need to be a customer of Hoover & Strong to participate in The Harmony Diamond Auctions?
No, however, you must be in the diamond and jewelry trade and provide the necessary registration forms before you are allowed to participate in the auction.

How frequent are the auctions?
After January 2015, auctions will be held twice a month, starting on the first and third Wednesdays of every month.

How long are the auctions?
Auctions will normally begin the first and third Wednesday of every month at 12:00pm EST and will end on the following Monday at 02:00pm EST.

What type of diamonds will be featured in the auctions?
Single diamonds from 0.40ct and diamond parcels of sizes +0.20ct (+17 sieve).

Are there fees to participate in the auctions?
Auctions fees only apply if a sale is accepted, with the exception of optional auction features purchased during the auction and shipping fees.

 
SELLER FAQ

How do I become a seller?
Click here to learn more on how to become a seller and to register.

What stones can I ship for auction?
Any single stone larger than 0.40ct or diamond parcels which include diamonds larger than 0.20ct each.

Can I ship my melee stones?
No, at this time, auctions will only feature single stones larger than 0.40ct or diamond parcels which include diamonds larger than 0.20ct each. However, you are welcome to send your melee for an immediate purchase offer by Hoover & Strong.

How do I ship my diamonds to Hoover & Strong?
Once registered, you will be able to list all diamonds you are shipping and print a packing list and shipping label directly from the platform. All shipping costs to and from Hoover & Strong are the responsibility of the seller. Hoover & Strong fully insures all diamonds while they are on our premises.

Is there a maximum dollar value I can ship?
No, however, when using our shipping labels there is a $100,000 maximum insurance limit that will require an additional separate package when shipping over that limit.

When will I be notified of highest offers made for my diamonds?
Result notifications will be emailed as soon as the auction closes. Additionally, our unique auction features will allow you the option to view offers in real time for any diamond submitted.

When will I be paid?
Payment will be processed within 7-10 business days of auction close.

Are there fees to participate in the auction?
Auction fees only apply if a sale is accepted, with the exception of optional auction features purchased during the auction and shipping fees.



BUYER FAQ

How do I become a buyer?
Click here to learn more on how to become a buyer and to register.

How do you grade the diamonds?
Grading will be done according to strict GIA standards. Detailed descriptions, as well as several high resolutions images, will be available for each diamond listed for auction.

How do I bid on the diamonds?
Biding is done online, and can be done using any computer or mobile device during the auction duration.

Can the diamonds be viewed?
Diamonds are only available for viewing online and will include as much detailed information as possible, as well as several high resolution images.

Is there a limit to how many diamonds can be bid on?
There is no limit on how many diamonds can be bid on.

Is there a bid deposit required?
No bid deposits are required to bid, however, any bid is a commitment to purchase, and for any offer approved, full payment should be submitted within 48 hours.

How do I pay for the diamonds I won?
Notification and invoices will be sent the day after the auction closes. Full payment must be made within 2 business days, by wire transfer or ACH.

When will I receive my diamonds?
Once payment has been received, the diamonds will be shipped FedEx overnight.

Can I return any of the diamonds I win?
You will have 24 hours to review and reject any of the uncertified diamonds you won. Any rejected diamond must be shipped back overnight. Buyers are responsible for all shipping fees from and to
Hoover & Strong. If no rejection is made, the sale is finalized and payment is processed to the seller.

Are there fees to participate in the auction?
Auctions fees only apply if a sale is accepted, with the exception of optional auction features purchased during the auction and shipping fees.

Will I be charged any taxes for my purchases?

Sales tax will apply to any buyer with a shipping address in the state of Virginia that has not supplied Hoover & Strong with a valid resale certificate. Additional duties and taxes may apply to all international shipments.

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Diamond auctions are held twice a month starting on the 1st and 3rd Wednesdays of every month!

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