Grib Sells a Record $73m of Rough
January 25, 22
(IDEX Online) - Grib Diamonds today announced the sale $73m of rough at its latest auction, setting a new company record.
It sold 560,000 carats in Antwerp, achieving an average price of nearly $130 per carat, amid sometimes frantic bidding.
Grib, a subsidiary of AGD Diamonds, broke its own record of $65m, set last August (650,000 carats at an average $100 per carat).
"This sale is a record by quite some margin," it said. "Prices increased steeply according to the Grib Diamonds Index, over 50 per cent (anchored to September 2021). Some lots had nearly 200 live bids in certain rounds."
Grib was selling complete production from its Grib Diamond Mine, 130km from Arkhangelsk, in north-west Russia.
Over 300 customers attended, and 174 companies placed a total of 4,870 bids.