The rare and precious stones were seized under bankruptcy proceedings against individuals and firms. After several rounds passed without a bid coming forward, the starting price at the seventh round on Sunday was just Bt221 million. But again, no one tendered a bid during the auction. The department’s director-general, Ruenvadee Suwanmongkol, said that they would cancel the eighth round of the auctions initially scheduled for November 11. An informed source said the plaintiff had until now insisted that the items be auctioned in bulk, requiring polished and unpolished items to be sold together.

Source: The Nation Bangkok October 22, 2017 10:07 UTC