Oct 26, 2020

Alrosa Resumes Auctions In Dubai; Comeback Sale Nets $8.7 Million

Alrosa’s first auction for special size rough diamonds (over 10.8 carats) that was held in Dubai since the beginning of the pandemic, earned the company a total of $8.7 million. The auction, which saw the participation of 33 companies from the UAE, Belgium, Israel, India, Russia and the US, sold 167 rough diamonds with a total weight of 2,479 carats.

“We are pleased to announce that our Dubai office is hosting auctions again. Customers from six countries visited us there to view the rough diamonds. The auction generated good results, 93% of the diamonds presented at the auction were sold,” said Evgeny Agureev, Deputy CEO of Alrosa.

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 the return to the usual format by organising auctions in its trading offices in Belgium and Israel.

Caption: © Alrosa