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ALROSA Aug. Auction Nets $31M

Aug 4, 2008 8:34 AM   By Avi Krawitz
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RAPAPORT... ALROSA generated $31 million at its 30th International Diamond Auction held in Moscow on August 1, 2008, representing 70 percent above the estimated value of the goods, according to the company.

Nearly all lots were sold.  Of the goods offered, 104 lots were produced by ALROSA and 63 lots by its subsidiary Alrosa-Nyurba.

In total 654 diamonds weighing more than 10,300 carats were auctioned, with the largest of the diamonds weighing 41.27 carats. ALROSA said one of the lots sold for a record price above $66,000 per carat.

Buyers included 41 companies from Russia, Israel, Belgium, India, and China, the company said.

The August auction was the fourth ALROSA has held in Moscow this year. It also hosted an auction at the Hong Kong Jewellery Show in July.

The company has garnered $128.6 million in sales from the five auctions.

Tags: Alrosa, Auctions, Belgium, China, Hong Kong, India, Israel, Russia
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