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SRDSIL to Hold Second Rough Sale

The consortium will place up to 300,000 carats for sale on February 11.
Feb 6, 2012 6:40 AM   By Dilipp S Nag
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RAPAPORT... Surat Rough Diamond Sourcing (India) Ltd. (SRDSIL), a consortium of Indian diamantaires, is planning to sell rough diamonds via tender on February 11 after successfully conducting its first sale of rough goods this past month.

''The viewing of goods is already going on and the bids will be opened on February 11,'' said Aagam Sanghavi, a spokesperson for SRDSIL and director of Sanghavi Exports, which is a member of the consortium.

He stated that the goods being offered are medium to low quality and that the process will be open to everyone.

''These are mixed origin goods. We have sourced the goods from various countries including Russia,'' Sanghavi noted. He didn’t provide the details about the volume and total value of the goods on offer.

The Times of India reported SRDSIL is offering between 200,000 carats and 300,000 carats of low-range goods for diamantaires mostly in  small to medium-sized businesses (SMBs). Sanghavi declined to confirm the figure with Rapaport News.

Sanghavi said that SRDSIL’s first online auction of rough diamonds was “good.” The consortium sold goods worth $17.2 million (INR 860 million) during its first auction in January.

Tags: Aagam Sanghavi, auction, diamonds, Dilipp S Nag, rough, Rough Diamonds, SRDSIL, tender
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