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ALROSA’S Israel Polished Auction Nets $2.9M, Mainly From Large Stones

ALROSA announced that its polished diamond auction in Israel, that ran from  November 4 to 13, realised $2.9 million from the sale of 370 carats. The auction featured colourless stones of 5 carats and up, fancy coloured diamonds over 1 carat and colour-matched batches of stones in the 0.3- to 0.99-carat size range.

According to ALROSA, firms from Israel, the US, Belgium, Hong Kong, India and Russia were among the bidders.

Of the diamonds sold, 314 carats were accounted for by large fancy coloured stones, with more than 40 fancy coloured polished diamonds over 5 carats with a total weight of 215 carats being sold.

Pavel Vinikhin, Director of Diamonds ALROSA, the company’s cutting division, said that Israeli firms had shown a preference for large polished diamonds over 3 carats and this had prompted the company to offer the large stones in that market. Vinikhin said a total of 94 large diamonds, both colourless and fancy coloured, were offered for sale.

He went on to say that ALROSA had also formed jewellery sets from some of the goods on offer, adding that the Israeli market remains very promising for the company.

The event was ALROSA’s third polished diamond auction in Israel this year. The company had previously realised more than $4.7 million from the sale of 841 carats of polished diamonds.

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