Alrosa Rakes in Over $18 Million at Two Rough Diamond Auctions

Rough Market
29/04/2019 13:04

Russian diamond miner Alrosa recently held two auctions of special-sized rough diamonds (+10.8 carats) in Vladivostok and Dubai, earning a total of $18.6 million from the two sales. The miner's haul from the Vladisvostok auction exceeded $9.65 million, with 29 companies from Belgium, India, Israel, the UAE, the USA, Hong Kong and Russia participating. A total of 150 diamonds with a total weight of 2,482 carats were up for sale, with 121 stones (2,030 carats) sold. Two especially large diamonds were sold, weighing 58.92 and 41.48 carats. "This diamond auction again showed decent results," said Evgeny Agureev, member of the Executive Committee, Director of the United Selling Organization of Alrosa. "We selected the stones of good color and quality, and got high revenues about $10 million. This is a good result, and we plan to further develop our sales here."

At the Dubai auction, Alrosa sold more than $8.9 million worth of diamonds, with 109 out of 122 auction lots finding a new owner. There were two especially large diamonds sold, weighing 51.13 and 47.59 carats. 56 companies participated in the auction, hailing from the same seven locations as at the Vladivostok sale. “This is our second diamond auction in Dubai this year," said Mr. Agureev. "This time, the total weight of sold diamonds was more than 1,840 carats, the proceeds amounted to $8.91 million. Until the end of the year, we are going to hold 3 more auctions here, expecting the same consistently high results."