Fine Cut: Diamonds Worth Over Rs 1 Cr Sold On Day 1 In Bhopal | Representational Image
Bhopal (Madhya Pradesh): About 29 diamonds weighing 52.99 carat were sold on the first day of auction in Panna on Wednesday. They were sold for Rs 1,18,02, 780. A diamond weighing 19.22 carat fetched highest price of Rs 93,79,360. These diamonds were recovered from shallow mines of Panna. The diamond auction was conducted by Panna district administration in presence of collector and officials of Panna diamond office.
In all, 50 diamonds of different size and quality were kept for auction on first day. Of them, 29 went under the hammer. Diamonds belonging to category of gem, off colour and industrial are being sold through public auction. There are 78 such diamonds costing Rs 3, 53,27, 186.
Besides, a large number of small and medium size diamonds weighing from a few cents to carats are also going under the hammer. Panna’s diamond trader Naresh Kumar Jain who participated in the auction, said number of participants was overwhelming this time compared to last diamond auction.
The entire room was packed with the bidders. In addition to buyers from the state, purchasers from Surat, Mumbai have also arrived. Ever since war began between Ukraine and Russia and tension among some other European countries surfaced, the diamond demand nosedived, which impacted the diamond market.
In last two years, diamond auction in Panna received lukewarm response. However, by seeing the positive response of buyers on first day of diamond auction, it seems that diamond demand is going to be on back on track.
