Surat: Navratna Gallery, the first auction house to deal with all categories of gems and jewelry, started its operations in the city from Wednesday.
Interestingly, the first pre-auction exhibition of the diamond gallery that grows in the lab is held in a city that is globally known as natural diamond capital.
The gallery is the initiative of the gem and jewelry export promotion board (GJEPC) and it was inaugurated by its ITS.
Chairman of Colin Shah on Monday.
The auction house is spread in an area of 2,700 square feet and remembers high-value products displayed here, it is insured for RS 30 Crore.
“Every product that falls in the category of gems and jewelry can be submitted to be auctioned here including the lab-diamond growing.
There are no common platforms available in this country,” said Dinesh Navadiya, regional chairman of GJEPC.
The auction house will provide a general platform for several sellers and buyers.
“Foreign sellers can show their products to buyers in the auction house.
Local buyers can check the product physically and also bid them without having to visit a foreign country,” Navadiya added.
On the first day, the exhibition received an extraordinary response with a visit from 53 buyers who opposed registered numbers 48.
“Total 175 companies from Bhavnagar, Ahmedabad, Mumbai and letters have been registered with us.
Representatives from these companies will examine diamonds and bid They, “said Salim Punjwani from Vacradima Ventures, a company that manages auction house.” This is a good step by GJEC because it provides a general platform to sellers and buyers.
We have already bought from each company and now we have one more option To choose our product, “said Chintan Kubadia, partner in Epoch Diamond.
Bid for diamonds will be opened on August 21.
Colored gemstones, jewelry, some diamond quality that grows in the lab along with natural rough diamonds will be prepared for auctioned in Gallery, officials informed.
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