Industry News by Nemesis

ALROSA Sells All the Auctioned Large Diamonds at EEF

September 12, 2017

ALROSA summed up the results of two auctions for rough and polished diamonds that were held at the Eastern Economic Forum. The company sold all 45 auctioned rough diamonds and 33 of 36 polished diamonds. 


The United Selling Organization (USO) of ALROSA organized previews of special size rough diamonds of 10.8+ carats from August 21 to September 6. The results were summed up on September 7. The company sold all 45 auctioned rough diamonds with total weight of 1,293 carats. Total revenue from the sales amounted USD 14.8 million. 


"Like last year, we note a high interest in the auction. About 50 companies from the US, India, Israel, Belgium, China and UAE participated in it. The most expensive lot was sold for nearly USD 1.75 million", ALROSA Vice President Yury Okoyomov said. 


Furthermore, from August 22 to September 5, DIAMONDS ALROSA, the company's own cutting and polishing division, held an auction for polished diamonds, where 33 of 36 offered stones from 2 to 12 carats in size were sold. 


"Almost all diamonds we offered at the auction were sold at significant premium to starting price. Total sales volume amounted USD 1.7 million", Pavel Vinikhin, Director of Diamonds ALROSA, said. 


ALROSA's division in Vladivostok which organized auctions is in charge of sorting, preliminary valuation, pre-sale preparation and sales of all ALROSA’s rough diamonds. 

 

Source: Rapaport

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