Increased Demand from India, HK and China at Latest Diamdel Auctions

(IDEX Online News) - De Beers’ secondary market supplier Diamdel sold all of the 218 rough diamond lots it auctioned between April 13 and May 3. Strong demand led to price increases in +2 ct, grainers and smalls ranges, the company revealed adding that prices for the near gem and larger goods stabilized.

Of the 161 companies from Belgium, Israel, India and Asia Pacific that placed bids at the auctions, 72 firms were successful bidders. A record number of winning bids were made by Asia Pacific and Indian based businesses

According to Neil Ventura, CEO of Diamdel, “whilst global demand fell back slightly from recent record highs, most notably from Antwerp and Israel based buyers, demand

across all markets did remain at higher levels than at any point in 2010.”

Ventura added that consistent demand from India resulted in an increase in winning bids and share of purchases. Record demand from Asia Pacific translated into record spot sales to buyers from Hong Kong and mainland China.

We continue to anticipate strong demand across all product ranges in the near term’’.

While sales to larger diversified buyers declined, sales to specialist buyers focusing on a narrow range of products rose to record levels, Diamdel reported. No single buyer won more than 17 lots (8%) of the 218 sold lots.

By value, 68% of lots were sold to non-Sightholders with Sightholders winning 32%.