Diamdel Sells all Lots, Market Reports High Prices

(IDEX Online News) - Half of the wining bids at Diamdel’s tender were by Sightholders, the company said its latest offering - the first open to Sightholders. Traders reported that the winning bids were very high and followed repeated cajoling by Diamdel staff.

Diamdel offered and sold 113 lots of rough diamond parcels spanning -3 grainers, 3-8 grainers and 2-15 carat size ranges.

Buyers from 41 of the 149 companies that participated in the October/November tender companies had winning bids. They were from Asia Pacific, South East Asia, the Middle East and Europe.

Bidders told IDEX Online that the winning bids represented prices high above the Diamond Trading Company (DTC) list prices. One buyer said the prices were too high to be economical. Bidders also reported that they were repeatedly approached by Diamdel, encouraged to bid on the goods, expressing a certain amount of dismay at the practice.

According to Diamdel CEO Neil Ventura, none of the buyers won more than 12 of the offered lots.