ALROSA Sells $7.9 Million in Rough Specials (+10.8 ct) at NY Auction

Rough Market
12/10/2018 16:09

Russian diamond miner ALROSA recently concluded an auction of special-sized (10.8 carats and above) rough diamonds in New York, earning $7.9 million from the sale of 1,300 carats for an average price of approximately $6,077 per carat. This by far outstrips the average price the miner recently earned at an auction of the same category of diamonds in Hong Kong, which achieved $4,790 per carat. The difference may be attributed to the sale of two exceptionally large diamonds in particular: a white diamond with yellow shade weighing almost 98 carats and a white diamond weighing 108 carats (pictured). Both stones were mined at the Yubileinaya pipe in Yakutiya.

The company sold more than 90% of the lots on offer to clients from clients from the US, India, Israel, Belgium, the United Arab Emirates and elswhere. Evgeny Agureev, Member of the Executive Committee and Director of USO ALROSA, commented, "The auction was held during some major holidays, therefore some of our customers couldn’t attend it. So it had an effect on the overall result. Meanwhile the sale of coloured stones was extremely successful - we sold all but one lot. And the efficiency was quite high." He also said that despite the fact that the United States is a key consumer of polished diamonds, ALROSA’s rough diamond auctions are very successful and attract more and more customers.