Bahrain’s leading auction platform ‘Mazad’, a local portfolio company of Bahrain Mumtalakat Holding Company (Mumtalakat) mandated with overseeing the Kingdom of Bahrain’s public and electronic auctions, has announced its first-ever gold auction, which will include a variety of 24K Gold Bars and exquisite 18K white and yellow gold jewelry. The gold bar auction is open to the public and will be ongoing until the 31st of March which will be followed by the jewelry auction from the 28th of March to the 18th of April 2024.
The introduction of an online gold auction marks a significant milestone for the company, as it expands its offerings beyond its traditional auction format. By venturing into the gold market, Mazad aims to cater to the needs of jewelers, investors, and individuals who are interested in acquiring gold as a valuable asset.
Bahraini jewelers and other industry professionals have a rare opportunity to purchase gold at a competitive rate providing them with an excellent platform to acquire premium gold and expand their inventory in light of the current market conditions. The assortment on auction includes 24K Gold Bars weighing 1KG and 100g each, and a wide selection of bulk jewelry, such as bracelets, rings, necklaces, bangles, and earrings, giving participants a variety of investment options to choose from.
“In line with our asset expansion strategy , we are thrilled to present our first ever online gold auction in the Kingdom of Bahrain which will provide a fair opportunity for participants to bid on high value assets.” stated Talal AlAraifi, CEO of Mazad. “This expansion reflects Mazad’s commitment to growth and agility in adapting to the market demands and our dedication to meeting the evolving needs of our customers. We are poised to attract a broader audience, foster new business relationships within the gold and luxury goods industry, to further solidify our presence in the Kingdom and beyond.”
By venturing into the gold market, Mazad strengthens its position as a comprehensive auctioning platform, offering a diverse range of assets to its users. Moreover, Mazad recognizes the versatility of gold as an asset beyond its aesthetic appeal and cultural significance, as it holds intrinsic value and acts as a hedge against economic uncertainties to investors..
Interested parties can visit the official Mazad website at mazad.app or download the Mazad App from the App Store or Google Play Store. Users can easily navigate to the jewelry category and place their bids securely and conveniently. For further support users can call 17778887 or email [email protected].
