Sarine Technologies announced the launch of a new service providing appraisal and valuation reports of rough diamonds for various purposes like trade, financing, insurance and others.

The valuation of the rough diamonds for these purposes will be based on Sarine’s Galaxy, DiaExpert and Advisor technologies, along with additional data collated as necessary.

David Block, CEO of Sarine, stated, “The ability to allow regulated financial entities to provide working capital against rough diamonds as collateral is an important and meaningful development for the diamond industry. Though rough diamonds are high-valued assets that embody significant value, financing them till now was difficult due to the highly subjective process employed and the consequential difficulty to accurately assess their value. Financing was further stymied by the uncertainty associated with the ability to confidently identify the rough diamonds over time and even more so, where working capital is concerned, to ascertain that the predicted polished diamonds, against which the financing was provided, were, in fact, derived during the later stages of the process. We are proud about the association and believe this service is much needed and has enormous potential.”

Zeev Maymon, CEO of Mazalit, said, “We are more than satisfied with the significantly expanding demand for our financing services. We are reassured by the new Sarine rough diamond reports and appraisals ability to provide us with the necessary data to do so. Based on objective technological means, Sarine’s solution allows us to scale up our operations while concurrently lowering our risks. Sarine’s new appraisal service allows us to incorporate a robust process to automatically and accurately determine the value of the rough diamonds, affording us a solid basis for our financing calculations.”