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Alrosa Garners $15M from Large-Rough Sale

Sep 17, 2017 5:58 AM   By Rapaport News
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RAPAPORT...
Alrosa brought in $14.8 million from a sale of large rough diamonds it held during the Eastern Economic Forum (EEF) in Vladivostok, Russia, earlier this month.

The miner’s United Selling Organization found buyers for all 45 rough stones on offer, for a total of 1,293 carats, implying an average price of $11,446 per carat. About 50 companies from the US, India, Israel, Belgium, China and the United Arab Emirates took part in the auction, with the most expensive item fetching almost $1.75 million, Alrosa said last week.

A separate auction in Vladivostok of polished diamonds from 2 carats to 12 carats, which the company’s cutting division, Diamonds Alrosa, organized, saw 33 out of 36 stones sold. Sales from the event totaled $1.7 million.

“Almost all diamonds we offered at the [polished] auction were sold at [a] significant premium to [their] starting price,” said Pavel Vinikhin, director of Diamonds Alrosa.

Image: Alrosa
Tags: Alrosa, Eastern Economic Forum, polished auctions, Polished Diamonds, Rapaport News, rough auctions, Rough Diamonds, Russia, United Selling Organization, Vladivostok
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