ALROSA’s Auction of Large Diamonds in Israel Earns Revenue of US$ 14.5 Mn

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ALROSA’s sales revenue from a recently-held auction of special size rough diamonds (+ 10.8 carats), in Israel, amounted to US$ 14.5 million.

At the auction, the Company sold 112 gem-quality lots with a total weight of 1,824 carats.

Diamond companies from Israel, Belgium, India, USA and UAE participated in the auction.

“This year’s third auction in Israel has concluded with good results and a significant excess of the starting price,” said EvgenyAgureev, the Member of the Executive Committee, and Director of the USO ALROSA, commenting on the results. “More than 100 firms from major centres of rough and polished market took part in it. We saw traditionally high interest from Israeli companies, which are specialising on this category of rough diamonds.”

ALROSA has announced its plans to hold three more auctions at Ramat Gan in Israel this year. One of these is scheduled to be held simultaneously with the Jovella jewellery exhibition which will be held in June.

Interestingly, ALROSA also revealed that according to Russian law, special size rough diamonds of over 10.8 carats, can be sold only through auctions.

News Source : gjepc.org

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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