Bidding for 15 carat diamond ends as no takers found

SAGAR: The ongoing bidding process for a 'gem quality 15 carat diamond' ended a day in advance in Panna district as there were no takers for the precious stone, a senior official said on Saturday.

"Since the bid for the 'gem quality 15 carat diamond' was not upto expectations as the diamond traders were not bidding more than Rs 1.17 lakh per carat for the top quality stone, the bidding process ended a day before following permission from Panna Collector," Diamond Officer J K Solanki told media.

During the four-day bidding process for diamonds, 323 precious stones of 237 carat worth Rs 15.63 lakh were sold on the first three days.

On the last day of the bidding, two large size diamonds were sold which included 4 carat 78 cents diamond worth Rs 3.63 lakh and 3 carat and 33 cents diamond of Rs 2.66 lakh.

Besides, 66 diamonds of 71 carat worth Rs 8.65 lakh were also sold.

Nearly 80 per cent of total diamonds placed in the bidding process were sold during the period, Solanki said, adding the remaining ones will be auctioned in next round of bidding.