ALROSA successfully held its fifth diamond auction this year, selling 98% of the polished diamonds put on the block totally weighing over 1 400 carats for almost $ 13 million.
Forty-nine exceptional diamonds weighing up to 28 carats holding high jewelry and investment potential were put up for auction joined by 284 diamonds weighing up to 17 carats - colorless, fancy yellow, and rare pink colors of various cuts, as well as 17 parcels of fancy yellow diamonds of various cuts formed according to their color intensity and weighing up to 0.99 carats.
As part of the auction which took place in September and October, diamond displays were held in Dubai, the United States, and Israel. More than 150 companies from the USA, Israel, UAE, India, Belgium, Hong Kong, Japan, and Russia took part in the auction. In addition, several lots were purchased by individuals - clients of ALROSA Diamond Exclusive, a program focused on investment diamonds.
According to Pavel Vinikhin, Director of Diamonds ALROSA, the results of the 5th diamond auction were record-breaking. “We always thoroughly select the lots for auctions, primarily based on the clients’ need, so they always generate a high level of interest. Even at the start of the pandemic, in March 2020, when clients took an extremely selective approach to buying polished diamonds exclusively to meet their existing orders, almost 80% of all diamonds offered for auction were sold. But the current auction has set an absolute record of 98% of lots sold. From next year, we intend to increase the number of polished diamond auctions. This will be made easier, in part, by the scheduled relocation of ALROSA’s New York office at the end of the year to a new building which is more convenient for holding viewings,” he said.
Vladimir Malakhov, Rough&Polished
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