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Arjav Diamonds generates $12.5 million in rough auction
This was the first online rough diamond auction held from India
By: Diamond World News Service
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Jun 14 2011 10:37PM
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Reference: 6064  

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Arjav Diamonds (India), part of Blue Star company and a subsidiary of DTC Sightholder Arjav Diamonds, Antwerp, has sold 46 of the 60 lots it had placed on offer in its rough diamond auction held recently. The auction was conducted from Surat, India and was the first such in India. The sale valued $12.5 million for 3,664.27 carats of rough diamonds sold ( with $3,411.32 per carat).

The two largest stones to be sold were the 74.70 carat "Star of Surat" and the 61 carat "Star of Gujarat."

Through this auction, the company intends to welcome small and medium Indian diamond firms to participate in such platforms offering larger stones. The company found majority of the buyers being Indian, though the auction received participation from buyers from abroad including Israel, Antwerp etc. The buyers were also to be given Galaxy Inclusion files of the diamonds.

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