The First Amber Auction in Ukraine

On October 16, 2020, Ukraine hosted its first ever open auction for the sale of amber, extracted within a month by the municipal enterprise Volynpryrodresurs of the Volyn Regional Council. The auction took place in the premises of the Volyn Regional Council. To participate in the public bidding, one had to register in advance and indicate the weight and fraction of amber the buyer was interested in.

The director of Volynpryrodresurs, Anatolii Kapustiuk, organized an amber auction that had no precedent in Ukraine. A total of 1 ton 84 kg of amber was put up for sale.

In particular, amber of the 0–2 g fraction was sold as a single lot, weighing over 18 kg 800 g. The starting price was $20 per kg. As a result of bidding, the lot was sold for $50 per kg.

The first amber auction, held on October 16, 2020, in numbers:

• Fraction 0–2 g: fully sold, 18,800 g. Starting price $20/kg, sold at $50/kg, total = $940.
• Fraction 2–5 g: 10 kg sold at $135/kg = $1,350 and 25 kg at $130/kg = $3,250, total = $4,600. Remaining: 21,304 g.
• Fraction 5–10 g: 50 kg sold at $250/kg = $12,500. Remaining: 55,029 g.
• Fraction 10–20 g: 100 kg sold at $625/kg = $62,500. Remaining: 69,880 g.
• Fraction 20–50 g: 205 kg sold at $1,290/kg = $264,450. Remaining: 113,540 g.
• Fraction 50–100 g: 110 kg sold at $1,690/kg = $185,900. Remaining: 102,400 g.
• Fraction 100–200 g: 100 kg sold at $2,100/kg = $210,000. Remaining: 28,604 g.
• Fraction 200–300 g: 3,799 g sold at $2,670/kg = $10,143.33. Remaining: 37,706 g.
• Fraction 300–500 g: 4,405 g sold at $2,870/kg = $12,642.35. Remaining: 17,478 g.

Separately, museum specimens, which were not sold: fraction 500–1000 g, remaining 9,564 g.

Auction results:
627 kg 4 g of amber were sold for a total of 21,650,000 UAH, or $763,675. Remaining stock: 445,941 g.