Gemfields auction at 'Singapore' generates around US$ 25 million

Pihu Gems and KGK Gems were top players at the auction
Gemfields Leading gemstone producing company Gemfields, recently held-an auction in Singapore offering 40 lots. The sale was slated between 11th July to 15th July, 2011. As per the sources, around 39 companies participated from Jaipur, a leading Indian-gemstone market. The value of the goods sold around US$ 25 million. The quality of the goods were medium to good.

As Diamond World learnt upon speaking with a few buyers, of the auction, prices have risen ‘crazily high’ as described by the buyers and half of the lots were withdrawn as they did not meet the-reserve prices. Also as told to Diamond-World, Pihu Gems and KGK Gems were the top players at this-auction.

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