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ALROSA sells large rough diamonds for $8.7 mln in Dubai

26 october 2020

News

Image credit: ALROSA (Facebook)

ALROSA held an auction for special size rough diamonds (over 10.8 carats) in Dubai. This is the first auction organized by the company in the UAE since the beginning of the COVID-19 pandemic.
According to a press release, ALROSA sold 167 rough diamonds with a total weight of 2,479 carats, earning $8.7 million. Clients from the UAE, Belgium, Israel, India, Russia and the US (33 companies in total) bought the goods.
“…The auction generated good results, 93% of the diamonds presented at the auction were sold," said Evgeny Agureev, Deputy CEO of ALROSA.
Under the current legislation, ALROSA sells special-size (over 10.8 carats) rough diamonds at auctions only.
In March 2020, ALROSA suspended auctions due to the COVID-19 pandemic. Customers participated in online auctions with detailed digital copies of each rough diamond provided for review and detailed analysis. In May, the company started to return to the usual format by organizing auctions in its trading offices in Belgium and Israel, the press release said.

Alex Shishlo for Rough&Polished

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