Alrosa to Hold Large Diamond Auction
July 06, 03
The Russian diamond monopoly Alrosa plans to hold an auction next month, offering large diamonds of 10.8 carat an up. The auction will be the first such auction open to non-Russians.
The auction, slated to take place in August in the Almaznaya Palata of Russia, comes after a presidential decree signed in November 2002 allowing diamond miners to export diamonds of 10.8 carats and larger if the goods are bought by foreigners at an action.
Until the decree in November such large diamond auctions were limited to Russian manufacturers.
The auction will be open only to companies that specialize in large diamonds.