RapNet
The Most Precious Resource for Your Diamond Business


Rapaport News

 

Rough Markets

 
Rapaport Broadcast
Live at Centurion Show: Rapaport talks to the independent jeweler
April 08 2014

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

SRDSIL Sells Rough Worth $17M at Auction

The diamond consortium says the sale was 82% sold by lot.
Jan 24, 2012 3:24 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT...  Surat Rough Diamond Sourcing (India) Ltd. (SRDSIL), a consortium of Indian diamantaires, sold goods worth $17.2 million (INR 860 million) during its first online auction of rough diamonds this past Saturday, The Times of India reported.

The report stated that about 57,000 carats valued at $18.6 million (INR 930 million),  were put up for auction by the diamond consortium. Of the total, 46,500 carats were sold and were said to be sourced mainly from Zimbabwe and Russia.

''We have fetched 93 percent in value and 82 percent of the goods put up for online auction was sold off to the bidders, mainly from Surat and Mumbai,'' the newspaper quoted Chandrakant Sanghavi, the director at SRDSIL, as saying. ''This success will open up new avenues for the diamond consortium in the coming days. Now we plan to organize a similar auction with low range goods, which could be ideal for small and medium manufacturers.''

The report said that the first ever online auction of rough stones by the diamond consortium had faced criticism from small and medium diamond manufacturers in Surat. They alleged the consortium had strayed away from its primary objective of helping the small and medium firms to get direct access to rough stocks from mining countries.

"We have kept certain stock reserved for small and medium diamantaires. This will be put up for auction in the next few days," the report quoted Sanghavi as saying.

 

Tags: auction, Chandrakant Sanghavi, diamond, India, mumbai, Online, Rapaport News, rough, Russia, SRDSIL, Surat, Surat Rough Diamond Sourcing (India) Ltd, The Times of India , Zimbabwe
Similar Articles
Similar Videos
Factors Affecting Rough Diamond Prices
Sep 16, 2013
Rough diamond prices have increased between 6 percent and 13 percent...
varda de beers sorting varda shine
Varda Shine Discusses... De Beers YTD Sight... Shine: Market Fundamentals...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Terms and Conditions   RapNet Trading Rules & Code of Conduct    Privacy Policy  
All Content © Copyright 1982-2014 by Martin Rapaport. All rights reserved.  
About Rapaport
Advertise with us

Why RapNet? Why join Rapnet? RapNet for Buyers RapNet for Sellers Connecting on RapNet Pricing with RapNet RapNet Features Products and Services Rapaport Price List Rapaport Magazine Rapaport Auctions Laboratory Services Buyers and Suppliers Groups China Diamond Import Services RapNet Inventory Link Features Rapnet Customized Search Engine TradeScreen™ Price Research RapNet Excel® Add-In for Microsoft ® RapNet TradeLink® Buy Requests New Certs Program Rapaport Diamond Price Calculator Member Directory + Ratings System Programs to Connect to RapNet Data Rapaport Weekly Report Rapaport News Global customer Support Exhibitors Directory and Diamond Search Service About and News About Rapaport Events Market Reports Join RapNet Trading Wholesale Diamonds Buying Diamonds Certified Diamonds Diamond Prices Diamond Pricing Diamond Trade Diamond Trading Diamonds For Sale Sell Diamonds Contact Customer Service Contact Regional Offices Contact a representative