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Rough Demand from Israel, India Surge at Diamdel Auction

Non-sightholders Buy 52% of Lots by Value

Apr 1, 2011 7:03 AM   By Jeff Miller
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RAPAPORT... Diamdel sold all 214 lots on offer of rough diamonds during its  second cycle of auctions, which were held between March 9 and March 28.  The De Beers subsidiary observed that sales to small, specialist buyers rose significantly during the auction period as did sales to larger businesses that sought to diversify their inventory of rough goods.  Of the 81 firms that won bids, no single buyer secured more than 15 lots -- and by value, 52 percent of the lots were sold to non-sightholders.

Competition across all categories of diamonds remained strong, but near-gem quality and small, Indian goods categories drew the most intense bidding, according to Diamdel.

Neil Ventura, Diamdel chief executive, stated, ''Demand from buyers surged to new highs during March and this demand translated into strong spot sales across all major geographic markets, with record sales recorded to Israel and Indian based businesses. We continue to anticipate very strong demand from all customer segments in the near term.''

 

Tags: auction, De Beers, Diamdel, diamond, Jeff Miller, rough
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