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Alrosa Sells $10M at New York Auction

Miner holds first sale at reopened US branch.
May 23, 2018 5:52 AM   By Rapaport News
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RAPAPORT... Russian miner Alrosa has reopened its New York office, holding its first auction in two years at the branch.

The company sold 1,040 carats for $10.4 million at the auction of rough diamonds weighing 10.8 carats or more, it reported Tuesday. A total of 50 companies took part in the sale from April 23 to May 11, including firms from the US, Belgium, India, Israel and the United Arab Emirates.

“We are glad to reopen Alrosa’s office in New York, and now are forming its team,” said Evgeny Agureev, director of Alrosa’s United Selling Organization. “We brought [a] standard color assortment to the auction in New York, and sold it with a good premium [over] the starting price. We saw strong interest, primarily from American diamond manufacturers.”

Alrosa plans to hold a second auction of rough diamonds weighing 10.8 carats or more, as well as a large-scale tender for its polished diamonds, at the New York base in October.

Alrosa originally opened the New York office in 2006, but shut it down in 2016 for organizational reasons, it said.

Outside its home country, the miner also has trading offices in Antwerp, Hong Kong, Dubai and Ramat Gan, as well as a representative office in Mumbai, which it opened last month.

Image: Alrosa
Tags: Alrosa, Evgeny Agureev, new york, Rapaport News, United Selling Organization, USO
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