Grib Sees Price Rise for Smaller Rough
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.
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