ALROSA’s Large Diamond Auctions Yields $32 Million

Rough Market
08/07/2021 12:52

In May and June, ALROSA held auctions in Antwerp, Dubai and Ramat Gan, selling over 400 lots weighing almost 6,600 carats. The total revenue equaled US$32.4 million.

Under Russian law, ALROSA sells special-size diamonds at international auctions only. These auctions allowed clients to purchase goods they need despite international travel restrictions.

“ALROSA flexibly responds to its clients’ needs, tending to supply their confirmed demand for rough, including valuable special size diamonds that are sought after these days. As experts are not able to travel around the world, we are in a regular dialogue with our clients, tending to adapt locations and schedule of our competitive sales to their needs as much as possible. All these auctions were efficient, with buyers confirming their interest in the majority of lots”, said Evgeny Agureev, ALROSA Deputy CEO.

The highest number of diamonds were sold in Antwerp, where 142 lots sold for US$10.4 million to 25 companies based in Belgium, Canada, India, Israel and UAE. Ramat Gan and Dubai sold 123 and 141 diamonds respectively, for a combined total total of US$22 million.