Russian diamond mining giant ALROSA held auctions of rough and polished diamonds at the Hong Kong International Diamond, Gem & Pearl Show two weeks ago, earning a total of $16.3 million. The United Selling Organization (USO) ALROSA sold 112 special size (over 10.8 carats) rough diamonds with the total weight of 1,787 carats, earning US$13.5 million, for an average price of $7,555 per carat. ALROSA Deputy CEO Yury Okoemov said, “The Hong Kong auction with 50 participating companies demonstrated that demand for rough diamonds of this size category remains stable. The auction closed with good results, our expectations were justified.”
On the polished side, DIAMONDS ALROSA, ALROSA’s cutting division, sold 67 polished diamonds with the total weight of 205.56 carats for $2.8 million, realizing an average price of $13,621 per carat. The assortment included 48 standard color polished diamonds and 19 fancy color stones. “We give an upbeat assessment of the auction. Large standard color polished diamonds were especially popular at the auction. We have also sold all the fancy color diamonds,” commented Pavel Vinikhin, Director of DIAMONDS ALROSA.
The United Selling Organization ALROSA carries out sorting, valuation, pre-sale preparation and sale of rough diamonds produced by ALROSA. DIAMONDS ALROSA work with large rough diamonds over 1.8 carats, including special size rough diamonds and those with unique color specifications. The bulk of products are sold by wholesale lots at monthly trading sessions, both for export and in the domestic market.