ALROSA To Hold Two Rough & Polished Auctions at Hong Kong Trade Fair

Polished
20/02/2018 14:50

ALROSA plans to hold two auctions of rough and polished diamonds at the Hong Kong International Diamond, Gem & Pearl Show, taking place from February 27 to March 3, 2018, the company writes in a press release. ALROSA's United Selling Organization (USO) auctions special size rough diamonds over 10.8 carats, and will be putting 121 gem-quality lots with a total weight of 1,949 carats up for sale during the show. The weight of the largest diamond is 47.08 carats. On the polished side, DIAMONDS ALROSA, the cutting division of ALROSA, will hold an auction for the sale of 87 polished diamonds during the Hong Kong exhibition. Customers will be offered 63 gemstones of a standard color range and 24 fancy yellow pieces. The total weight of diamonds put up for the auction is 284 carats. The offered assortment consists of different types of cut: emerald, square emerald, pillow, pear, radiant, heart, oval. The largest diamond, weighing 20.63 carats, has a standard round cut shape.

"Our Hong Kong auctions usually attract customers from major diamond trading centers, including those from the Asia-Pacific", said Yury Okoemov, Deputy CEO of ALROSA. "To date, more than 80 companies have been registered to participate in the auction. Taking into account the composition of the participants and the stable demand for our assortment, we expect that the auction will bring us good results." 

The Hong Kong auction follows just two weeks after ALROSA's international auction for the sale of special size rough diamonds over 10.8 carats at the International Diamond Week in Israel (IDWI). The company sold 105 gemstones with a total weight of 1,665 carats. The overall revenue from sales amounted to USD $13.7 million. "More than 100 companies from different geographical trade and manufacturing centers took part in the auction, 39 companies were recognized as winners, most of them from Israel. The auction has completed with good results. We saw a significant premium to starting price", - Yury Okoemov, Deputy CEO of ALROSA, commented on the results of the auction. Russian laws stipulate that special size rough diamonds over 10.8 carats can be sold only at auctions. In 2018, ALROSA plans to hold five more auctions in Ramat Gan (Israel).

The photo is one of the two gem-quality stones ALROSA recovered in January 2018, one weighing 97.92 carats (pictured) and another 85.62 carats, from the Yubileynaya pipe at Aikhal Mining and Processing Division.