RAPAPORT… Prices of smaller rough exceeded expectations at Grib Diamonds’ March sale, with demand rising for certain goods.
“Bigger sizes are extremely strong for now; smaller goods less so,” Grib head of sales Antony Dear told Rapaport News on Monday. “[However,] we noted that the smaller goods were much better than expected in last week’s sale, with some areas even rising compared to February.”
The company recorded revenue of more than $50 million from the sale of over 620,000 carats of rough.
“The auction was very well attended, and viewings of the rough in Dubai and Antwerp were full every day,” Dear said. Prices have increased 5% to 7% overall since January, he added.
The Antwerp-based company sells production from AGD Diamonds’ Grib mine in Russia, as well as from some Angolan deposits.
Image: Rough diamonds from the Grib mine in Russia. (Grib Diamonds)
Grib Sees Price Rise for Smaller Rough
The Bottom Line
- Smaller rough diamonds saw better demand and some price increases compared to February, despite bigger sizes remaining stronger overall.
- Grib Diamonds generated over $50 million from selling more than 620,000 carats of rough at its March auction.
- Prices for rough diamonds have risen 5% to 7% overall since January, supported by high attendance and active viewings in Dubai and Antwerp.
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