March 25, 2021 – ALROSA Group summarizes the results of tender sales of special-size (over 10.8 carats) diamonds dedicated to its Jubilee Auction #100.
Russian diamonds weighing 10.8 carats and more – so called special-size diamonds – under the legislation must be sold at international auctions only. The first auction of such kind was held by the United Selling Organization of ALROSA in Moscow in 2003.
To honor the 100th auction in its history, in Spring 2021 ALROSA hosted a round of high quality rough diamond sales in various locations.
In addition to the Jubilee Auction #100 where three notable diamonds weighing 242.31 carats, 190.74 carats and 136.21 carats were tendered, the Group hosted two more auctions of special-size diamonds. The one was digital with an additional option of on-site viewings in Dubai, where 100th auction’s lots were demonstrated. The other, having a traditional format, took place in a global diamond trading hub of Antwerp.
“We are glad to see such a keen buyers’ interest to the exceptional mix of rough diamonds that we decided to tender to honor such an important milestone as the 100th special-size diamond auction in ALROSA history. Among with the Jubilee auction itself with a trio of exceptionally large lots, we hosted a classical auction of special-size diamonds in Antwerp as well as a digital auction with viewings in Dubai as an option. This allowed us to ensure that as many clients as possible would have an access to the goods despite the travelling restrictions that are still in place. It is fitting that we are evidencing this interest at this very moment, one year after diamond auctions and diamond trade as a whole were blast-frozen. This is a best evidence that diamond industry has successfully passed through unprecedented challenges and proved its resilience”, ALROSA Deputy CEO Evgeny Agureev commented.
Proceeds from three auctions, summarized on March 22, totaled $23.9 million.
This includes proceeds from the Jubilee Auction #100 of $7.7 million. Due to the active bidding all three lots were tendered at a multi-round procedure with a maximum number of rounds reaching 26. After a tightly contested race that lasted almost seven hours, three companies from India and UAE placed the winning bids.
Digital auction revenue amounted to $5.5 million, 30 lots weighing 625 carats went to 14 companies from Belgium, India, Israel and UAE.
Antwerp auction fetched $10.7 million, with 25 companies from Belgium, India and Israel acquiring 132 lots weighing over 2,200 carats.