Advanced Search

Alrosa Israel Auction Garners $16M

Sep 16, 2018 5:21 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Similar Articles
De Beers VeneitaHigher Costs Hit De Beers Profit
Feb 21, 2019
De Beers’ earnings fell in 2018 due to the costs of new initiatives such as its Lightbox synthetics business.
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.