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Diamdel's March Auction Sells 90% by Lot

Apr 19, 2012 7:08 AM   By Dilipp S Nag
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RAPAPORT... Diamdel concluded its latest rough auction, which it calls "Diamdel Days," and observed that demand continued to gather momentum during March 2012 driven by emerging market buyers.

"Demand from buyers across all major markets held firm during this second, but shorter cycle of sales of 2012," said Neil Ventura, Diamdel's chief executive. "Demand growth from emerging market buyers, especially India, was most pronounced and our view was, is and remains that demand will continue to grow as we negotiate sales into second-quarter."

Diamdel offered 580 lots of rough diamonds, which included large stones, 2-carat-plus sizes, grainers, small stones and near-gem products from March 15 to 29 and engaged 156 bidders. It sold 520 lots to 100 different buyers, with no buyer winning more than 5 percent of the lots sold. Non-sightholders won 61 percent by value at the auction.

Demand for products in near-gem and grainer categories showed the greatest increases followed by 2-carat-plus products, according to Diamdel. While demand for small stones and large categories fell slightly from previous auctions, buyer appetite for these products remained robust at the highest levels witnessed since July 2011, it added.
Tags: Auctions, De Beers, demand, Diamdel, diamond, diamonds, Dilipp S Nag, Rapaport
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