ALROSA to hold digital online auction of special-size rough diamonds

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Moscow, July 28, 2020 – ALROSA will hold an auction to sell special-size rough diamonds (+10.8 carats) on 4-20 August, in which it will offer about 2.3 thousand carats of rough diamonds to its clients.

Online auctions allow its clients to access full digital copies of rough diamonds in their online accounts for a detailed analysis and evaluation. The digital twin technology allows making well-informed purchase decisions remotely based on the comprehensive data on the offered product line, without physically viewing the diamonds. At the same time, our clients still have an option to visit Company’s offices to study rough diamonds in person, always subject to strict compliance with all the required COVID-preventive measures.

ALROSA started pilot online sales of rough diamonds in the autumn of 2019. From March 2020, the Company offers its clients an option to purchase rough diamonds at online auctions and tenders without physically viewing the diamonds due to the COVID-19 pandemic restrictions. Offline auctions for special-size rough diamonds (over 10.8 carats) with onsite displays resumed in May 2020 in the Company’s trading offices in Belgium and Israel.

“Our sales experience in recent months demonstrates persisting demand for high-quality rough diamonds while market players are ready to use online channels more actively than before. Though digital tenders and auctions do not replace traditional model of diamond trade, however, they offer additional opportunities for our clients interested in purchasing relevant diamond categories,” said ALROSA Deputy CEO Evgeny Agureev.

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

Digital tenders and auctions rely on the digital twin technology, due to which buyers get 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 sessions.

Each rough diamond’s 3D-scan data includes 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 28 July 2020 at 14.48