Azerbaijan will auction 1,785.57 carats of diamonds that have been confiscated and are now state property on March 29, the Azerbaijani State Committee on Property Issues has announced.

No information is currently available about who had been in possession of the diamonds or under what circumstances the stones were confiscated.



However, Azer-News.com reports that they have been appraised by the Serraf and Dashinmaz Emlak diamond companies.

The opening price for the diamonds has been set at 114,276 manat (approximately $144,000.) Anyone wishing to bid in the diamond auction must submit all the requisite documents, along with a 10% down payment, by March 26.