Industry News by Nemesis

AGD Diamonds Rakes in $24 Million From Open Auction Sales

September 26, 2018

AGD Diamonds held an open auction for the sale of rough diamonds on Grib Diamonds’ digital platform.


As it is stated in the company’s press release distributed on Wednesday, the auction was attended by AGD Diamonds’ largest customers from India, Israel and China bringing the total sales - including the carry-over inventories of the diamond assortment unsold in the past period - to about $24.2 million.


AGD Diamonds also sold several large top-quality stones within this offer, including diamonds of rare fancy colors.


Industry experts noted good demand for AGD Diamonds’ rough produced by the Grib Mine in the Arkhangelsk Province, which has a stable quality across all diamond parcels put up for sale. Prices experienced a slight correction in comparison with previous sales due to the market situation.


As a rule, AGD Diamonds holds rough sales ahead of competitors, and their results are always a fair indicator of market prices for customers, as the diamonds produced by the company are of high quality and buyers always note the perfect pre-sale preparation of rough and effective organization of product viewings.


Source: Rough&Polished

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