Industry News by Nemesis

Auction in Vladivostok Added $ 6.5 Million to ALROSA’s Revenue

July 24, 2019

ALROSA, putting up for sale 112 special-size diamonds weighing a total of 1,780 carats, earned $ 6.5 million at an international auction held in Vladivostok.


"The market is experiencing a seasonal decline in activity, and our auctions are also under pressure from the industry's general correction of demand for rough diamonds. In general, our Far Eastern site continues to attract clients from all over the world.

 

The firms from Russia, Hong Kong, the US, the UAE, Israel, Belgium and India were among the participants, 50 companies in total," commented Evgeny Agureev, member of the Executive Committee, director of the United Selling Organization ALROSA.


In a press release distributed by the company, it is noted that ALROSA held three auctions in Vladivostok since the beginning of 2019 earning a total of about $ 25 million from sales. The next auction on this trading platform will be held in September.

 

Source: Rough&Polished

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