However, the news coming from the Day 1 of the auction does not seem to be all positive. The company had 400,000 carats on offering. In all, 110 lots were offered on 21 tables and 40 companies participated in this acution.
"Goods are not graded, it’s really of low quality. As per estimate, goods worth US$ 500,000 are only expected to sell.It was very unprofessionally managed, too. A much hype of second contender in ruby auction business seems to have nosedived,” said another participant on condition anonymity.