ALROSA’s First Auction of Large Rough Diamonds of 2019 Raises $9.6M

ALROSA held its first auction this year for special size (over 10.8 carats) rough diamonds in Israel.

The company sold 92 large rough diamonds with a total weight of 1,570 carats. The overall revenue from sales amounted to $9.6 million. Firms from Israel, Russia, Hong Kong, Belgium, India, the United Arab Emirates and the United States participated in the auction, the miner said.

“The auction in Israel is the first in our schedule, and we are satisfied with its results,” said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA.

“Until the end of the year, we will hold five more auctions here. We also continue to analyze the situation in the global diamond market and see some difficulties with demand, however, in the next two months we expect it to recover.”

In 2018, ALROSA held six auctions for special size rough diamonds in Israel, with revenue for the year reaching almost $90 million.