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Alrosa Israel Auction Garners $16M

Sep 16, 2018 5:21 AM   By Rapaport News
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RAPAPORT... Alrosa sold $15.6 million worth of rough at a large-stone auction in Israel last month.

The 166 diamonds — each over 10.8 carats — weighed a combined 2,611 caratsand fetched an average price of $5,975 per carat, the miner said last week. The stones sold for more than one-and-a-half times their asking price, Alrosa noted.

Companies from Russia, Israel, Belgium, Hong Kong, the United Arab Emirates and the US participated in the auction, with 45 firms buying stones.

According to Russian law, rough diamonds above 10.8 carats from the nation’s mines can only be sold at auction. Alrosa plans to hold one more sale in Israel this year — in Ramat Gan in November.

Image: Rough diamonds. Credit: Alrosa.
Tags: Alrosa, Israel Auction, large-stone auction, Rapaport News
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