ALROSA reported that it had held 32 international auctions for special size (over 10.8 carats) rough diamonds in 2018, earning a total of $463 million for the year.
The company traditionally holds auctions in six countries — Russia, Belgium, Israel, Hong Kong, the United Arab Emirates and the United States. The largest number of auctions were in Russia, with Moscow seeing 11, while another four were held in Vladivostok. For the first time in many years, the company held two auctions at its sales office in New York, which resumed operations last year. Another six auctions took place in Ramat Gan, three in Hong Kong, four in Dubai and two in Antwerp.
ALROSA has planned 37 international auctions for 2019, increasing the number of auctions in Antwerp, New York and Dubai. There will be still 11 auctions in Moscow and four in Vladivostok. According to the approved schedule, another 18 auctions will be held in diamond trading centres, with four in Antwerp, five in Dubai, six in Ramat Gan and three in Hong Kong. Four auctions are scheduled for this year in New York.
"International auctions are an integral part of our trading activity, since large in accordance with Russian law, rough diamonds should be sold only in this way. Large diamonds are usually in good demand in the market, so each of our auctions collects up to 100 participants. In general, we are pleased with the results of 2018, and we found the opportunity to increase the number of auctions in 2019 to 37 against the background of stable demand,” said ALROSA United Sales Organisation (USO) Director Evgeny Agureev.
He added, “In 2018, auction activity at our promising Far Eastern site, which today is not inferior to global diamond trading centres, went well. One of the notable events of the past year was the resumption of our sales office in New York, where we held two auctions and, having received positive feedback, decided to increase the number of auctions in the United States this year.”
The complete schedule of international auctions for special size rough diamonds in 2019 is posted on ALROSA's sales website.