ALROSA announced that its auction of ‘special size’ diamonds (weighing over 10.8 carats), which took place in Israel, garnered $15.6 million. The company sold 166 gem-quality lots with total weight of 2,611 carats.
Firms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction, with 45 companies making winning bids.
“The auction ended with good results — final bids were 1.5 times the initial price. This indicates a stable demand for our products, not only in Israel, where the auction took place, but also in other major diamond trade centres. ALROSA has this year, held five auctions in Israeli to sell large-size rough diamonds, realising about $70 million,” said USO ALROSA Director Evgeny Agureev.
Under Russian law, diamonds weighing over 10.8 carats have to be sold at auction only. ALROSA is going to hold one more auction in Israeli in November this year.