Diamond Auction Deadline Extended

Published on 10/06/09

Those looking to pick up dazzling gemstones at auction have a little longer to do so after a firm extended its deadline.

The Fortunoff sale, which is being put on by SimplexDiam, is giving consumers until June 16th to register their interest in its loose jewels.

Last month the company revealed that it was set to auction gems worth around $1 million (£610,000) which had came from Fortunoff Holdings.

SimplexDIam has commented that the extension is to allow all interested parties to have a chance to bid on the pieces, lovers of platinum diamond rings and diamond drop earrings may be interested to hear.

Shail Madhvani, the firm's vice president of finance, said: "We have received significant deposits from bidders interested in the closeout loose diamonds. To ensure that there are enough time slots available to view the merchandise, we have extended the auction timeframe."

In other industry news, Gareth Penny, managing director for De Beers, recently commented that the group sees "positive signs" ahead for the diamond sector.