ALROSA holds rough and polished diamond auctions in Hong Kong

ALROSA's rough and polished diamond auctions held during the Hong Kong International Diamond, Gem & Pearl Show generated sales of $10.5 million.

The company auctioned special size rough diamonds (weighing over 10.8 carats) and sold 101 stones with a total weight of 1,829 carats.

"The auction was held as part of one of the largest jewelry exhibitions," said Evgeny Agureev, Member of the Management Board, Director of the United Selling Organization at ALROSA. "From year to year, global diamond market participants from around the world visit it. I would like to note that this time there was a rather large inflow of visitors, as well as interest from customers. Considering the positive results of the auction, we can note that the demand for diamonds of the size category exceeding 10.8 carats remains stable."

In addition, ALROSA held a polished diamond auction in Hong Kong. The company sold 56 stones with a total weight of almost 300 carats, most of which were fancy colored diamonds (238 carats). That amount included two cushion cut fancy yellow diamonds weighing 31 and 30 carats, their total value at the auction amounted to $815,000. The overall auction revenue totaled $4.1 million.

"We held the first polished diamond auction this year in Hong Kong, and once again became convinced that there is a strong interest in fancy colored diamonds, which are especially highly valued in this market today, among the participants of jewelry industry. We formed the assortment of polished diamonds based on the existing demand, and very pleased with the sales results," said Pavel Vinikhin, Director of the DIAMONDS ALROSA cutting division.