Confiscated diamonds worth tens of millions of tenge have been put up for sale at a state auction in Almaty. A listing for nine lots containing the gemstones has appeared on the E-Qazyna platform.
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The starting price is 92.9 million tenge, while experts estimate the market value of the stones at 251.7 million tenge `(approximately $530,000) — about 2.7 times higher than the opening bid.
Details of the diamonds
A total of 541 diamonds, with a combined weight of 4.89 carats, are being offered for sale. The stones are graded F-G in color, meaning they are considered near-colorless. Their average diameter is 1.3 millimeters.
Experts assessed the diamonds’ clarity as I1-I2 under the Gemological Institute of America, or GIA, classification system. That rating indicates the stones contain visible inclusions and imperfections that can be seen with the naked eye.
Auction terms
To participate in the auction, bidders must provide a security deposit of 4.6 million tenge ($10,000).
The auction rules allow the sale to proceed even if only one bidder participates. The buyer will also be responsible for removing the property after purchase.
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