Alrosa Sells 80% of Goods at First Auction of +10ct Diamonds in New York

(IDEX Online News) – Russian mining company Alrosa has held its first auction of large, rough diamonds in New York. The sale, which took place during the first week of July, saw more than 80 percent of the goods on offer sold.

The by-invitation-only auction featured 51 rough diamonds ranging from very fine to commercial quality, sized from 11 carats up to almost 80 carats. Two gem-quality rough diamonds weighing 57.47 carats and 79.65 carats, respectively, each sold for several million U.S. dollars.

The auction was the outcome of a series of talks initiated by the Diamond Manufacturers & Importers Association of America (DMIA).

DMIA president Ronald Friedman praised Alrosa's commitment to New York's diamond industry. "New York is still the world number one center for cutting and polishing large diamonds," he said. "We therefore welcome Alrosa's decision to hold an auction here, and look forward to Alrosa's continuing support."

DMIA vice president Ronnie VanderLinden said that even in a difficult market Alrosa's rough diamond auction created enormous excitement throughout the New York industry and trade. "It was a gratifying experience for all parties. Out of the 51 lots on offer, approximately 80 percent were sold, exceeding Alrosa' expectations. In addition, upon the conclusion of the auction, all the participating buyers were given full information on the prices paid for the goods sold. This is the sort of transparency that will certainly strengthen the long-term relationship that Alrosa, DMIA and the New York diamond manufacturing community aim to develop and will generate more interest in the future Alrosa auctions," VanderLinden said.
 
Neither Alrosa nor DMIA provided information on the total sales sum of the auction and the identity or number of the participating buyers.