Prices Strong at Alrosa Israel Auction

RAPAPORT... Alrosa sold $13.7 million worth of special-size rough diamonds in Israel earlier this month, the miner said Friday. The company auctioned 105 diamonds larger than 10.8 carats, totaling 1,665 carats. The stones sold for far more than their initial asking prices, Yury Okoemov, deputy CEO of Alrosa, said.  "More than 100 companies from different geographical tradeand manufacturing centers took part in the auction," Okoemov continued. "39 companies were recognized as winners, most of themfrom Israel."Russian law stipulates that diamonds larger than 10.8 carats must be sold at auction. The sale took place at International Diamond Week in Israel. Alrosa plans to hold five more auctionsin Israel this year.Image: Alrosa