Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Sotheby’s reported a net income of $2.4 million in the first quarter ended March 31. Traditionally the auction house posts a loss in the first quarter, however this year the company benefited from higher auction revenues resulting from a 23% increase in net auction sales.