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ALROSA Launches Coloured Polished Diamond Auction At HK Show

ALROSA has launched a special auction for polished coloured diamonds at the ongoing Hong Kong Jewellery & Gem Fair. Called the ‘True Colours’ auction, the company termed this a stepping-stone of a new strategy to become the world leader in the production of polished coloured diamonds. The auction will take place on September 19.

“ALROSA's polished branch now focuses on the processing of large and coloured diamonds and their subsequent sales. We are the world's largest producer of diamonds, and that gives reason to believe that we are also ahead in terms of coloured rough diamond production. Today, ALROSA produces at least 7 thousand carats of coloured diamonds per year. We have all it takes to dominate the market of coloured diamonds. The collection presented in Hong Kong demonstrates our capabilities," said ALROSA United Selling Organisation (USO) Director Evgeny Agureev.

The collection showcased in Hong Kong comprises 250 diamonds of different shapes and hues. ALROSA said it had presented such a grand collection of large coloured stones for the first time. Auction results will be announced later in the month. The company plans to run “True Colours” auctions regularly.

The key stones of the collection, which are expected to be the most expensive lots, include a 11-carat fancy vivid yellow diamond, an orange-yellow oval diamond of over 15 carats and a 11-carat deep purple-pink cushion. ALROSA quoted the Gemological Institute of America (GIA) as saying it was the largest diamond of this colour that it had graded.

ALROSA said it unearths coloured diamonds at all its deposits, but two areas boast the greatest reserves — the alluvial mines of Anabar Diamonds in Yakutia and the open pit of the Severalmaz mine in the Arkhangelsk region. ALROSA said that as of this year, it has used new technology to sort the coloured diamonds it unearths. Most of them are cut and polished by the company’s polishing division, DIAMONDS ALROSA.

"One of the ALROSA’s competitive edges is the in-house cutting division, which gives us the opportunity to trace the history of each diamond from mine to market. Our diamonds enjoy a sterling reputation and comply with the highest ethical and environmental standards. We invest in our diamond cutters, providing extensive training and opportunities for professional development. This allows us to keep the tradition of the highest quality of gem cutting, the paragon of diamond cutting art also known as the ‘Russian cut’”, said Agureev.

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