Alrosa Rakes in $19M From Two Large-Diamond Auctions

Rough Market
05/06/2019 15:25

Alrosa recently held two international auctions for special size rough diamonds (larger than 10.8 carats), earning a combined $19 million from 221 stones weighing a total of 3,490 carats. At the first, which took place in Ramat Gan, Israel, the company sold 120 stones with total weight of 1,940 carats, earning revenue of $10.2 million, or$5,258 per carat. The auction included two large diamonds weighing more than 50 carats each. Firms from Israel, Belgium, India, the US, UAE, Russia and Hong Kong were among the participants. “Large rough diamonds are consistently popular with Israeli diamantaires," said Evgeny Agureev, Member of the Management Board, Director of the United Selling Organization at ALROSA. "This is our highest revenue in Israel since the beginning of 2019." The miner is planning three more auctions in Israel and says it is looking forward to stable demand.

Alrosa's latest auction was in New York, where they sold 101 gem-quality diamonds with a total weight of 1,550 carats. The auction brought in a total of $8.8 million, or an average of $5,677 per carat. They note that about 90 companies from the USA, Israel, India, Belgium, the UAE, Russia and Hong Kong participated in the auction. “Our auctions in the USA keep bringing in new clients, first of all companies from the US market. More than 20 participants were American companies," Agureev said. "The assortment consisted of standard color rough diamonds, most of them were sold at a good premium to their opening price. We are happy with the operational dynamics of our US platform." Alrosa is planning two more such auctions in New York this year.