Alrosa's New York Auction Yields $8M

RAPAPORT... Alrosa sold $7.9 million worth of rough at a large-stoneauction in New York, the Russian miner said Friday. More than 90% of the diamonds on offer - each over 10.8carats - found a buyer at the auction from September 17 to October 5, thecompany noted. A total of 1,300 carats, including a 108-carat white diamond anda 98-carat white diamond with yellow shading, fetched a combined average priceof $6,077 per carat. Companies from the US, India, Israel, Belgium and the UnitedArab Emirates participated in the auction, Alrosa said. "The auction was held during some major holidays, thereforesome of our customers couldn't attend it," said Evgeny Agureev, director ofAlrosa's United Selling Organization. "[This] had an effect on the overallresult. Meanwhile, the sale of colored stones was extremely successful - wesold all but one lot."Image: The 108-carat white diamond. (Alrosa)