Market Uncertainty, Liquidity Crunch Limit Arjav Auction

(IDEX Online News) – Only 27 of the 60 rough diamond lots offered at Arjav Diamonds' second online rough diamond auction were sold. Arjav attributed the limited sale to market uncertainty and increased rough prices.

The liquidity crunch currently being experienced by the Indian market was also a contributory factor, Arjav said.

The auction opened on August 12, a couple of weeks after rough diamond prices started softening and days after the closing of the IIJS trade fair, which was mediocre for loose diamonds.

Arjav observed, however, that the lots that were sold fetched “attractive” prices. The auction featured rough ranging in size from five to 132 carats.