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ALROSA to hold 30 overseas auctions of large diamonds

 

ALROSA is planning to hold 30 international auctions of special size rough diamonds weighing more than 10.8 carats in 2018, including six at the Israel Diamond Exchange (IDE).

 

Israel will host the largest number of overseas auctions, with sales also being held in the largest international diamond trading centers where ALROSA's sales offices operate.

Overall, there will be five auctions in the first quarter, 10 in second quarter, six in the third quarter, and nine auctions in the fourth quarter.

In addition to the six auctions in Ramat Gan, there will be four in Dubai, three in Hong Kong, and two in both Antwerp and New York, where ALROSA's trade office will resume full-scale operations.

ALROSA and the IDE signed a Memorandum of Understanding in 2015 to share information and cooperate on issues of mutual interest. ALROSA sees Israel as one of its three main markets as a major buyer of high-quality, large diamonds.

The largest number of auctions, 11, will be held in Moscow. In April and September, the miner will hold auctions in Vladivostok.

"Russian laws stipulate that special size rough diamonds over 10.8 carats can be sold only at auctions," said Yevgeny Agureev, Director of the United Selling Organization of ALROSA. "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. Preliminary figures indicate that the company sold 153,000 carats of special size rough diamonds worth almost $365 million at international auctions in 2017."

The complete schedule of international auctions for the sale of special size rough diamonds in 2018 is posted on ALROSA's sales website.

Source 

 
 
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