Feb 07, 2019

ALROSA’s First Auction of 2019 of Large Rough in Israel Yields Revenue of US$ 9.6 Mn

At ALROSA’s first auction of the year for special size (over 10.8 carats) rough diamonds held in Israel, the Company sold 92 large rough diamonds with a total weight of 1,570 carats, for  a total sales price of US$ 9.6 million.

Companies from Israel, Russia, Hong Kong, Belgium, India, the United Arab Emirates and the United States participated in the auction.

“The auction in Israel is the first in our schedule, and we are satisfied with its results,” said Evgeny Agureev, Member of the Management Board, and Director of the United Sales Organization of ALROSA. “Until the end of the year, we will hold five more auctions here. We also continue to analyse the situation in the global diamond market and see some difficulties with demand, however, in the next two months we expect it to recover.”

In 2018, ALROSA held six auctions for special size rough diamonds in Israel, and the revenue for the year reached almost US$ 90 million, the Company stated.