Alrosa Sees Strong Prices at Large-Stone Auctions

RAPAPORT... Alrosa sold $12.6 million worth of rough at its most recent large-stone auctionin Vladivostok, Russia, with the miner reporting healthy premiums on the opening bids at the sale. The 108 diamonds - each over 10.8 carats - weighed a combined2,003 carats and fetched an average price of $6,291 per carat, the miner saidlast week. Companies from Russia, mainland China, Hong Kong, the US, Israel,Belgium, India and the United Arab Emirates participated in the auction. "The Far East is still of strategic interest for us in terms ofexpanding cooperation with China, and we traditionally invite companies fromthis country to participate in our auctions," said Evgeny Agureev, director ofAlrosa's United Selling Organization. "The auctions in Vladivostok [were]particularly successful this year...and [yielded] a good premium [on] thestarting price." The miner also plans to sell 81 rare large diamonds at an auctionin New York, including a transparent 98-carat stone with a yellowish hue, and arough diamond weighing more than 100 carats, both of which Alrosa recoveredfrom its Jubilee pipe. The auction will be the second the company has held inNew York this year. Additionally, Alrosa launched its first True Colours auctionfor large colored diamonds last week at the Hong Kong Jewelry & Gem Fair.The 250-stone collection up for sale included an 11-carat, fancy-vivid yellowand a cushion-cut, 11-carat, deep-purple-pink diamond. The miner plans to runits True Colours auctions regularly. Image: A 98-carat rough diamond presented at Alrosa's NY auction. (Alrosa)