Gem Diamonds Notes Solid Rough Demand

RAPAPORT... Gem Diamonds reported a rise in the average selling price for the first half of 2020, noting that appetite for its goods had improved at a recent tender in Antwerp."The results of the latest tender for Let??eng's large diamonds are positive," Gem Diamonds CEO Clifford Elphick said Thursday. "With certain stones selling above their anticipated post-Covid-19 valuations, it is clear that there is a good level of demand for the high-quality Let??eng diamonds."Rough from the mine in Lesotho fetched an average of $1,707 per carat for the first half, a 1% increase versus the same period of 2019. The figure also rose 13% compared with $1,506 for the second half of last year.The company recently closed its June tender, which took place in Antwerp in compliance with Covid-19 safety rules. The event included the sale of a 13-carat, pink diamond for $40,110 per carat, and a 61-carat, white, type II diamond for $31,400 per carat.A total of 15 diamonds sold for at least $1 million each during the first half, with one diamond going for more than $5 million.Image: Gem Diamonds' Let??eng mine in Lesotho. (Gem Diamonds)