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Alrosa Sells $10M at Hong Kong Auction

Jul 2, 2018 4:29 AM   By Rapaport News
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RAPAPORT... Alrosa sold $10.4 million worth of rough at a large-stone auction in Hong Kong, the miner said last week.

The 100 diamonds — each over 10.8 carats — weighed a combined 1,550 carats, and garnered an average price of $6,710 per carat. Stones sold for more than one and a half times their original asking price, the company noted.

A total of 28 companies from Hong Kong, Belgium, Israel, India, the United Arab Emirates and Russia bought diamonds at the sale.

According to Russian law, rough diamonds above 10.8 carats from the nation’s mines can only be sold at auction. The miner plans to hold another auction in the municipality in September, running alongside the Hong Kong Jewellery & Gem Fair.
Tags: Alrosa, exceptional-stone tender, Hong Kong Auction, Hong Kong Jewellery & Gem Fair, Rapaport News
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