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Stargems’ historic tender of Angolan goods rakes in over $17m in India

22 june 2020
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Image credit: Stargems

Stargems conducted a historic diamond tender of Angolan goods last week in Surat, India, which proved to be a resounding success despite the Covid-19 pandemic.
Company managing director Bhavesh Javeri told Rough & Polished that they sold 193 lots for just above $17.6 million out of the total 211 lots offered.  
He said 66,212.79 carats were sold at an average price of $266.36 per carat.
“The tender was a big success, over 175 companies viewed the goods and over 125 companies submitted their bids,” said Javeri.
He said this was the first time that they had conducted a diamond tender in Surat due to Covid-19 travel restrictions.
Their tenders are usually held in Dubai.
Stargems last conducted its diamond tender in February, before Dubai was placed on lockdown.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished