ALROSA, which recently completed an international auction for special size rough diamonds (weighing over 10.8 carats) in Dubai, said the overall sales revenue exceeded US$ 7 million.

The sum was raised from the sale of 112 large rough diamonds with a total weight of 1,740 carats.

In all, 84 bidders from major diamond trading centres, such as UAE, India, Belgium, Russia, Israel and Hong Kong, participated in the auction.

“In Dubai, we sold 75% of auctioned rough diamonds,” commented Evgeny Agureev, Deputy CEO of ALROSA. “This is a good result at the time when (a) tough market is still having an impact on the demand and sales. Despite the difficult situation, our Dubai trading site remains attractive for clients from all over the world. Thus, more than 80 companies participated in our latest auction.”

As per Russian law, ALROSA sells large rough diamonds (weighing over 10.8 carats) only at international auctions. Every year, the company holds about 30 such auctions in Moscow, Vladivostok, Antwerp, Ramat Gan, Hong Kong, New York and Dubai.

This was ALROSA’s fourth auction for special size rough diamonds in Dubai this year. The next one will take place in December 2019.