ALROSA Sells Large Diamonds At Auction in Israel For $15.6M

(IDEX Online) – ALROSA, the world's largest diamond mining company, sold 166 gem-quality lots of special size large diamonds (weighing over 10.8 carats) with a total weight of 2,611 carats in Israel for $15.6 million.

Firms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction. 45 companies were recognized as winners in different auction positions.

“The auction ended with good results – the starting price was exceeded by 1.5 times," said Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA. "This indicates a stable demand for our products not only in Israel, where the auction took place, but also in other major diamond trade centers. In 2018, ALROSA held five auctions in Israeli to sell large-size rough diamonds, having already raised about $70 million,” he added.

Under Russian law, diamonds of special sizes – weighing over 10.8 carats – can only be sold at auctions. ALROSA is going to hold one more auction in the Israel in November 2018.