ALROSA Pockets $10M at First NYC Rough Diamond Sale in Two Years

Rough Market
23/05/2018 17:41

Russian diamond miner ALROSA reopened its representative office in New York and promptly sold 63 lots of special size rough diamonds (+10.8 carats) with a total weight of 1,040 carats for $10.38 million at its first NYC sale in two years. The auction was held in the period from April 23 to May 11, earning a robust average price per carat of approximately $9,980. In total, 50 companies from world’s largest diamond trading centers, including 7 firms from the USA and 43 from Belgium, India, Israel and the United Arab Emirates, took part in it.

“We are glad to reopen ALROSA’s office in New York and now are forming its team", said Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA. "The results of the last auction show that American customers are also happy about this circumstance, because it is important for them to purchase high-quality rough with guaranteed origin. We brought standard color assortment to the auction in New York and sold it with a good premium to the starting price. We saw a strong interest, primarily from American diamond manufacturers. I'm sure that those who did not have opportunity to take part this time will definitely do it next time.” That "next time" is slated to take place in October 2018, when ALROSA will hold another auction in New York for the sale of special size diamonds, as well as a large-scale tender to sell polished diamonds of its own manufacture. The United States is the world's largest market for the consumption of diamond jewelry. The ALROSA office in New York was opened in 2006, but since 2016, it has not been operating for organizational reasons.