Panna Diamonds to be Auctioned Starting July 25,
The diamonds from the shallow mines of
India's Panna district will go up for auction beginning July 25. The auction
will take place via the Diamond Officer in Panna.
can be placed from 9 a.m. to 11 a.m. daily, following inspection of the
diamonds. The auction will continue until all of the diamonds have been sold.
A total of 110 diamonds are up for bid, weighing 99.72 carats in all. Some
other diamonds that are not part of the 110-diamond packet will also be up for
Bidders have to deposit about $100 prior to the auction in order to
participate. The highest bidder then has to deposit 20% of the winning bid with
the Panna Diamond Office. Collection of the diamonds is dependent upon paying
off the rest of the bid within 30 days.
Courtesy : israelidiamond.co.il