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ALROSA Concludes its First New York Auction

Jul 11, 2012 12:43 PM   By Jeff Miller
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RAPAPORT... The Diamond Manufacturers & Importers Association of America (DMIA) announced that ALROSA conducted its first auction of large, rough diamonds in New York City earlier this month. The sale was by invitation-only and was 80 percent sold by lot. ALROSA offered 51 rough diamonds ranging from very-fine to commercial-quality, in sizes that ranged from 11 carats up to almost 80 carats. The highlights of the auction were two gem-quality rough diamonds weighing 57.47 carats and 79.65 carats, which sold for several million dollars each. A total sales amount was not provided.

DMIA's president Ronald Friedman praised ALROSA's commitment to New York's diamond industry. "New York is still the world's number one center for cutting and polishing large diamonds," he said. "We therefore welcome ALROSA's decision to hold an auction here, and look forward to ALROSA's continuing support."

Ronnie VanderLinden, DMIA's vice president, said that even in a difficult market, ALROSA's rough diamond auction created enormous excitement throughout the New York trade and the sale exceeded expectations. ''In addition, upon the conclusion of the auction, all the participating buyers were given full information on the prices paid for the goods sold. This is the sort of transparency that will certainly strengthen the long-term relationship that ALROSA, DMIA and the New York diamond manufacturing community aim to develop and will generate more interest in the future ALROSA auctions.''

The July auction was the outcome of a series of talks initiated by the DMIA and agreed to in a meeting, held in December 2011 in New York, between Yury Okoyomov, the vice president of ALROSA; Alexander Malinin, the general manager of ALROSA's cutting and polishing division Brillianty Alrosa, and Friedman and VanderLinden. The meeting was also attended by Reuven Kaufman, the president of the Diamond Dealers Club of New York.

Tags: Alrosa, auction, DMIA, Jeff Miller, new york
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