Bidz.com to auction off diamonds from LID bankruptcy auction
Online jewelry auctioneer Bidz.com (Nasdaq:BIDZ) said this morning that it was the winning bidder of a large lot of finished jewelry in the bankruptcy auction of LID Ltd., one of the world’s largest manufacturers of diamond jewelry. Bidz said it paid nearly $24 million for the jewels and said it expects to begin auctioning off its new inventory in early June.
Shares gained 6%, or $0.73, to $12.98 in pre-market trading. For detailed price information and recent news stories about Bidz.com, click BIDZ.
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