Grib Sees Strong Demand at Rough Auction

RAPAPORT... Grib Diamonds noted solid demand and competitive bidding for rough at its latest tender in Antwerp, with a purple diamond setting a new record.The Belgian company, which sells production from AGD Diamonds' Grib mine in Russia, brought in $65 million from the sale of 650,000 carats, Grib head of sales Antony Dear told Rapaport News Monday. While high demand for rough persisted amid scarcities, prices remained flat overall, according to Dear.Meanwhile, Grib sold a 7-carat, purple diamond with a pink tinge for $100,000 per carat, a record average price for the company, Dear said. The tender house also saw prices for larger stones begin to slip."[There was] some weakness starting to creep in to the bigger-sized rough, in the 5-carat to 10-carat range," Dear added.Grib will hold its next auction of rough diamonds on September 23 in Antwerp.Image: The 7-carat, purple diamond. (Grib Diamonds)