Alrosa Sells 102 of 800 Rough Diamonds at Biggest Online Sale

Alrosa’s long-term clients bought 102 of more than 800 large rough diamonds offered in the company’s biggest ever digital tender.

The remaining stones will now be made available to other customers to select from 5-10 carats batches.
For the first time, the Russian state-owned miner sold diamonds online from boxes, piece by piece, in response to COVID-19 restrictions.
It provided prospective buyers with 3D-scans data detailing each stone’s external shape, internal inclusions, color and fluorescence during the first round of the online sale, from 15 to 29 May.
The remaining stones will now be offered in a second digital tender which starts today.
Evgeny Agureev, deputy CEO, said: “The results of the digital tender’s first round show that demand for rough diamonds persists at the market, and our clients are ready to buy diamonds through the online channel.
“To the second round of the digital tender, we have additionally invited our spot and auctions partner companies.”
It has been holding pilot digital tenders with a small number of stones since October 2019, but has responded to the COVID-19 pandemic by making many more diamonds available.making many more diamonds available.

Alrosa is allowing approved buyers to defer all purchases at its contract sale later this month. Profits slumped last year, the company has revised down its 2020 production forecasts and has suspended work at some of its less-profitable mines.

Source: IDEX