Alrosa Sells $14.5M at Israel Auction

RAPAPORT... Alrosa saw revenue of $14.5 million from a sale of 112special-size diamonds in Israel, it said Thursday. The miner achieved an average price of $7,950 per carat fromthe auction of 1,824 carats of gem-quality stones weighing at least 10.8carats each, it reported. Buyers from Israel, Belgium, India, the US andthe United Arab Emirates participated in the auction. "We saw traditionally high interest from Israeli companieswhich [specialize in] this category of rough diamonds," said Evgeny Agureev,director of United Selling Organization Alrosa. Final selling amounts weresignificantly above the asking prices, he added. According to Russian law, rough diamonds above 10.8carats from the nation's mines can only be sold at auction. Alrosa plans tohold three more auctions this year at the Israel Diamond Exchange. The nextsale will take place in June, alongside the Jovella jewelry exhibition, theminer said.