ALROSA sells large diamonds at Israeli auction for $15.6 mil

Moscow, 13 September 2018 – ALROSA, the world's largest diamond mining company, has summed up the results of the international auction for the sale of special size large diamonds (weighing over 10.8 carats), which took place in Israel.

The company sold 166 gem-quality lots with total weight of 2,611 carats. Overall sales revenue amounted to $15.6 million.

Firms from Russia, Israel, Belgium, India, Hong Kong, UAE and the US participated in the auction. 45 companies were recognized as winners in different auction positions.

“The auction ended with good results – the starting price was exceeded by 1.5 times. This indicates a stable demand for our products not only in Israel, where the auction took place, but also in other major diamond trade centers. In 2018, ALROSA held five auctions at Israeli site to sell large-size rough diamonds, having already raised about $70 million,” Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA, commented on the results.

Under Russian law, diamonds of special sizes – weighing over 10.8 carats – can be sold at auctions only. ALROSA is going to hold one more auction in the Israeli Ramat Gan in November 2018.