FAQs

What is Forty7?

Forty7 is a fully digital, auction-based platform tailored specifically for the B2B jewelry trade. It connects motivated sellers and buyers in a transparent, efficient, and global marketplace, offering features like low fees, real-time bidding, and high-resolution imagery.

How does Forty7 work?

Sellers submit their diamonds for review, including certificate details and additional quality specifics. After approval and verification, Forty7 creates a professional listing with high-resolution images and videos. Buyers place bids in real-time until the auction ends. The highest bidder wins.

Who can buy and sell on Forty7?

Forty7 is a marketplace for verified industry professionals. Both sellers and buyers include manufacturers, wholesalers, distributors, retailers, and diamond wholesalers. All participants undergo a vetting process to ensure a secure and professional environment, maintaining trust and quality on the platform.

What are the fees for using Forty7?

Sellers are charged a 5% fee upon a successful sale, while there is no buyer’s fee. Signing up, browsing, and sharing listings on Forty7 remain completely free.

What types of diamonds can I list?

Currently, we are only accepting diamonds with GIA certificates that meet Forty7’s quality standards and reserve price expectations.

How are reserve prices determined?

Sellers set their own reserve prices when submitting a diamond for auction. Using real-time pricing data, Forty7 provides accurate guidance to maximize selling potential and attract competitive bidding. If a reserve is deemed too high for current market conditions, our team will recommend an optimised price. Once agreed upon, the item is brought in for final evaluation and confirmation before going live.

How does grading work on Forty7?

Forty7 has in-house expert gemologists with experience at world-renowned grading labs, providing objective and consistent grading. This ensures buyers can bid with confidence, knowing they are receiving accurate and detailed assessments of listings on the platform.

Is Forty7 available Globally?

Yes, Forty7 is a global platform, connecting motivated buyers and sellers from all over the world. The platform is designed to make the auction process seamless, regardless of location.

How do I get started on Forty7?

To get started, register an account on Forty7, complete the KYC verification process, and follow the instructions to list your diamond or begin bidding as a buyer. If you need assistance, our support team is here to help.

Who is responsible for shipping costs?

Sellers are responsible for covering the cost of shipping their diamonds to our verification centre. Once a buyer has successfully won an auction, they are responsible for paying the shipping cost to receive the item.

What makes Forty7 different?

Forty7 combines cutting-edge digital tools with industry expertise to provide a unique, transparent, and efficient auction experience. Our focus on low fees, comprehensive grading, high resolution imagery, and accessibility sets us apart from traditional auction houses.

How do I contact Forty7 for support?

You can reach us via email at admin@forty7.com. Our team is here to assist you with any questions or concerns.