CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
SourcingDec 10, 2020
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.
The new Gembridge business-to-business trading platform is slated to launch in the first quarter of 2021.
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
Singapore’s Ministry of Law in cooperation with the Financial Action Task Force, which is leading regulatory reforms across 200 countries, making it what the founders believe is the first regulated trading platform in the world.
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.
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.
More on Sourcing
The Latest
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
