ALROSA successfully held a digital auction of special-size rough diamonds

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August 25, 2020 – ALROSA reports its results of the digital auction for the special-size rough diamonds (+10.8 carats) held from 4 to 20 of August.

The digital twin technology allows making well-informed purchase decisions remotely based on the comprehensive data on the offered product line. During the digital auction in August, clients viewed and evaluated in their online accounts digital copies of ca. 2,300 carats of rough diamonds in 173 lots.

As a result, 132 lots weighing over 1,700 carats were sold. There were 26 winners from Belgium, Israel, India, UAE and Russia.

“The results of the digital auction show that the market participants have adapted to work in a new reality. During the August auction of special-size rough diamonds, we sold more than ¾ of the auctioned lots by units as well as by weight. This result is a good evidence of the recovery of the demand for the high quality rough; and demonstrates that this new sales channel, which perfectly complements traditional ones, is gradually accepted by the market,” said ALROSA Deputy CEO Evgeny Agureev.

ALROSA started to pilot on-line sales of rough diamonds in the autumn of 2019. From March 2020, the Company offered its clients an option to purchase rough diamonds at online auctions and tenders without onsite reviews due to the COVID-19 pandemic restrictions. Traditional offline auctions for special-size rough diamonds resumed in May 2020 with the goods displayed at the Company’s trading offices in Belgium and Israel.

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Under the current legislation, ALROSA sells special-size (over 10.8 carats) rough diamonds at auctions only.

Digital tenders and auctions rely on the digital twin technology, which buyers an access to the complete digital scan of each rough diamond for an in-depth analysis. ALROSA has been holding pilot digital tenders since October 2019 together with traditional trading mechanisms.

Each rough diamond’s 3D-scan includes comprehensive data on its shape, internal inclusions, color and fluorescence. The information provided in a standard Sarine Advisor’s planning format is ready for use by clients’ experts to evaluate possible polished diamond output according to their needs and current price lists.

This page was last updated on 25 August 2020 at 16.15