Government to Auction Diamonds, Gold, Emeralds Worth 1.5 Billion AMD

The government approved during its session on September 24 a program by the Ministry of Finance's "State Treasury of Precious Metals and Precious Stones" agency for the disposal of state reserves of precious metals and precious stones from 2022 to 2024.

The project envisions the sale of non-liquid assets in the State Treasury through public auctions, prioritizing the disposal of more illiquid items first.

Sales are planned to be conducted initially through a "classical" auction method, gradually raising starting prices, followed by a "Dutch" auction method, where starting prices will be decreased.

With this decision, the government will auction diamonds, gold, emeralds, and jewelry made from them, with a total market value of 1.5 billion AMD.