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RAPAPORT... Tight liquidity in India and high rough diamond prices impacted sales at the second online rough auction hosted by Arjav Diamonds (India). The company reported that it sold only 27 out of 60 lots offered at the auction, with sizes ranging from 5 carats to larger than 100 carats.
“Due to the uncertainty in the diamond market and an increase in rough prices, the bidders were a little skeptical,” Arjav explained. The company noted that the ongoing liquidity crunch could be a reason that all the rough was not sold.
Despite this, Arjav explained that the lots that were sold achieved attractive prices while the largest stone sold weighed 132 carat.
Arjav didn’t provide the total value of the rough sold. The auction, which took place on August 12, followed Arjav’s first auction in June when it sold $12.5 million worth of rough.
Arjav is a subsidiary of Arjav Diamond Antwerp.
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