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Alrosa to Bring Big Diamonds to Big Apple in 2018

Miner will hold 30 auctions around the world next year for rough diamonds over 10.8 carats.
Dec 28, 2017 7:23 AM   By Rapaport News
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RAPAPORT...
Alrosa will hold 30 auctions of large rough diamonds at locations around the world in 2018, adding New York to its roster.

The events will primarily take place in the major trading centers in which Alrosa has sales offices, the Russian miner said in a statement Tuesday. It will host 11 auctions in Moscow, two in Vladivostok, two in Antwerp, four in Dubai, six in Ramat Gan, Israel, and three in Hong Kong. A further two will occur in New York, where Alrosa’s trade offices are set to resume full-scale operations in early 2018.

“Russian laws stipulate that special-size rough diamonds over 10.8 carats can be sold only at auctions,” explained Yevgeny Agureev, director of Alrosa’s United Selling Organization. “Such diamonds are traditionally in high demand both on Russian and international markets. As a rule, 60 to 100 companies from different countries take part in auctions for their sale.”

Alrosa sold 153,000 carats of special-size rough at auctions this year, garnering nearly $365 million, it added.

Image: Alrosa
Tags: Alrosa, Antwerp, Auctions, diamonds, Dubai, Hong Kong, moscow, new york, Ramat Gan, Rapaport News, rough, special-size, Vladivostok
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