Industry News by Nemesis

Gokhran of Russia Rakes in $39.31 Million on Sales of Rough Diamonds

March 21, 2018

Gokhran of Russia sold 781,600 carats of rough diamonds, earning $39.31 million in two auctions held on March 13 and 14, as it follows from a statement distributed by the agency on Tuesday. The auctions were held for companies operating in the domestic market.


During the first auction held on March 13, Gokhran sold 220 lots with a total mass of 598,800 carats earning $24.17 million, which is 73.26% by weight and 75.33% by value of the total offer.

 

During the second auction held on March 14, the state agency sold 111 lots with a total weight of 182,800 carats earning $15.14 million, which is 71.85% by weight and 92.70% by value of the total offer.

 

According to the statement, final prices for some lots exceeded initial prices by 0.5% to 307.0%.


The auction for the sale of partially processed natural diamonds (except for diamonds weighing 10.8 carats and more) from the State Fund of Russia, which was held on March 14, offered two lots of rough totally weighing 1,777,500 carats, but these found no buyers and the auction was declared invalid.

 

Source: Rough-Polished

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