ALROSA's investment grade polished diamonds became the winner of the FINAWARD 2023 award in the "Private banking product or service" category, the company's press service reports.
Investment diamonds are a physical asset with growth potential, the highest concentration of value per unit mass, and relatively low price volatility. Diamonds are easy to store and transport. Prices for ALROSA's investment diamonds are expressed in rubles, but are pegged to the international market.
In October 2022, ALROSA launched two diamond investment products on the market for the first time in Russia. The first is the rare single specimens with the greatest investment potential, such as colorless diamonds over 2 carats and fancy color diamonds. The second product is "Diamond Baskets", that is, sets of 18-22 diamonds weighing from 0.3 carats to 2 carats with a unified price per carat.
“An important feature of new products is the resale and buyback option. The growth of interest in this asset is directly related to the introduction of a zero VAT rate on the purchase of diamonds by individuals from banks in Russia last autumn, - says Elena Sukhoveeva, head of the ALROSA Diamond Exclusive program. “Investment diamonds have a lot of merits in addition to their amazing beauty, and we are very pleased that now they have also received recognition from the professional community.”
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
