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Rough Prices Skyrocket at Grib Antwerp Auction

Jan 26, 2022 5:33 AM   By Rapaport News
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Prices for rough at Grib Diamonds’ most recent sale in Antwerp saw a steep hike as robust demand led to strong bidding.

The Belgian company, which sells production from AGD Diamonds’ Grib mine in Russia, garnered $73 million at its January 24 auction of goods weighing up to 10.79 carats. Grib sold 560,000 carats at an average price of nearly $130 per carat, Antony Dear, Grib’s head of sales, told Rapaport News Tuesday.

Prices increased more than 50% compared with equivalent items at the company’s previous auction in September.

“More than 300 customers were present at the auction and record demand was observed, with 174 companies placing competitive bids,” Dear noted.

Some of the lots on offer received nearly 200 live bids in certain rounds, Dear explained. The company received a total of 4,870 bids, with the number of winners coming to 47.

Image: Rough diamonds in a sieve. (Grib Diamonds)
Tags: AGD Diamonds, Antony Dear, Antwerp, diamonds, grib, grib diamonds, Grib mine, Rapaport News, Rough Diamonds
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