ALROSA, which recently completed an auction of   special size large diamonds (over 10.8 carats) in Israel, said it had garnered  a revenue of US$ 15.6 million from the sale of  166 gem-quality lots with a  total weight of 2,611 carats. 

From amongst a host of companies from   Russia, Israel, Belgium, India, Hong Kong, UAE and the US which participated in the auction, 45 companies were successful in their bids.

“The auction ended with good results – the starting price was exceeded by 1.5 times,” commented Evgeny Agureev,  Member of the Executive Committee, and Director of the USO ALROSA. “This indicates a stable demand for our products not only in Israel, where the auction took place, but also in other major diamond trade centres.”

In 2018, ALROSA has  held five auctions in  Israel   to sell large-size rough diamonds, and has already raised about  US$ 70 million from these sales,  Agureev added.

ALROSA reiterated  that as per Russian law, diamonds of special sizes (of  over 10.8 carats)  can be sold only through auctions.

The Company will be holding one more auction at Ramat Gan in  Israel   in  November 2018.