Panna diamonds to undergo auction from July 25

Bhopal, Jul 6: The auction-sale of the diamonds of various carats recovered from shallow mines in Panna district is commencing from July 25. The diamonds will be sold through Panna Collector at the office of the diamond officer, a release said today (Jul 6).

The auction sale will begin from July 25 and continue daily, except government holidays, till all the diamonds are auctioned, it said, adding that the bids for auction could be made daily from 9-11 AM after inspection of the precious stones.

The total weight of 110 diamonds to undergo hammer is 99.72 carats and their estimated price Rs 10,72,428.

According to director, Geology and Exploration, R K Sharma, a number of other big and small diamonds whose weight ranges from a few cents to carats will also be up for grabs at the auction.

The diamonds to be put for sale include gems weighing 04.26, 02.04, 01.69, 01.68 and 01.54 carats, off-colour diamonds weighing 01.84, 01.53, 01.06, 01.02 and 01.30 carats and industrial diamonds weighing 07.71, 01.68, 01.49, 01.31 and 01.01 carats, the release said.

A bidder will have to deposit earnest money worth Rs 5,000 for participating in the auction while the highest bidder will have to deposit 20 percent of the total bid amount at the Diamond Office in Panna.

The amounts to be deposited are non-refundable, it added. The physical possession of the precious stone will be given only after paying the balance sum of auction within 30 days from the date of auction.

PTI