Armenian government agency fails to auction cultivated pearls
07.04.2017,
17:08
The State Depository of Precious Metals and Precious Stones, an affiliation of the Armenian Ministry of Finance, failed to auction 102,793 grams of cultivated pearls, the depository’s director Vahe Arakelyan told ARKA news agency.
YEREVAN, April 7. /ARKA/. The State Depository of Precious Metals and Precious Stones, an affiliation of the Armenian Ministry of Finance, failed to auction 102,793 grams of cultivated pearls, the depository’s director Vahe Arakelyan told ARKA news agency. The cultivated pears were put up to an auction in line with a government decision of February 2017.
‘The auction was held on March 30th, but there were no applications and no pearls were sold. Repeated auctions, as announced in advance, will also be held on April 14th and May 2nd, and if no bids are received, pearls will be taken back to the depository, "Arakelyan said.
According to him, the government has not yet decided to auction other exhibits from the collection of the depository, which have no historical and cultural value.
Arakelyan added that the depository has about 35,000 items worth about 1.9 billion drams ($3.9 million). -0--
‘The auction was held on March 30th, but there were no applications and no pearls were sold. Repeated auctions, as announced in advance, will also be held on April 14th and May 2nd, and if no bids are received, pearls will be taken back to the depository, "Arakelyan said.
According to him, the government has not yet decided to auction other exhibits from the collection of the depository, which have no historical and cultural value.
Arakelyan added that the depository has about 35,000 items worth about 1.9 billion drams ($3.9 million). -0--
