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Alrosa Sells $14.5M at Israel Auction

Russian diamond producer nets $7,950 per carat for 112 special-size stones.
Jun 3, 2018 8:20 AM   By Rapaport News
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RAPAPORT... Alrosa saw revenue of $14.5 million from a sale of 112 special-size diamonds in Israel, it said Thursday.

The miner achieved an average price of $7,950 per carat from the auction of 1,824 carats of gem-quality stones weighing at least 10.8 carats each, it reported. Buyers from Israel, Belgium, India, the US and the United Arab Emirates participated in the auction.

“We saw traditionally high interest from Israeli companies which [specialize in] this category of rough diamonds,” said Evgeny Agureev, director of United Selling Organization Alrosa. Final selling amounts were significantly above the asking prices, he added.

According to Russian law, rough diamonds above 10.8 carats from the nation’s mines can only be sold at auction. Alrosa plans to hold three more auctions this year at the Israel Diamond Exchange. The next sale will take place in June, alongside the Jovella jewelry exhibition, the miner said.
Tags: Alrosa, Evgeny Agureev, Israel Auction, Israel Diamond Exchange, Jovella jewelry, Rapaport News, special-size, United Selling Organization Alrosa
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