ALROSA Commences Rare Rough Diamond Auction in NYC

Rough Market
19/09/2018 12:01

Russia's ALROSA, the world's largest diamond mining company, has commenced a rough diamond auction in New York, featuring 81 rare gem-quality 'specials' (diamonds larger then 10.8 carats) discovered in 2017-2018. The auction will include some of ALROSA's most unique recent recoveries, such as a transparent 98-ct diamond with a yellowish hue (pictured above) and a diamond weighing over 100 carats. Both stones were mined at the Yubileinaya pipe in Yakutia.

“Such large and pure diamonds are extremely rare in nature" says Evgeny Agureev, member of the Executive Committee and Director USO ALROSA. "This is a real find, and we are proud that we can now offer such products around the world. Moreover, we brought to New York 20 fancy light yellow colored stones that are in great demand in the market.” The current auction is the second this year in New York after holding none there for nearly two years. During the first auction held this spring, ALROSA sold 63 lots for a total amount of $10.4 million. “The US is the country with the highest demand for diamond jewelry, so it is very important for us to develop sales here. Auctions allow us to present especially valuable lots and increase the number of interested buyers. During the first auction in May, we had 50 participants, and the current auction will gather more than 60 firms, including companies not only from the US, but also from India, Israel, Belgium, the United Arab Emirates and even Russia,” Evgeny Agureev added.