Russian diamond producer Alrosa (MCX:ALRS) plans to sell a unique collection of diamonds at an online auction later this year. The main piece is a 51.38-carat traditional round brilliant-cut diamond, which is the most valuable gemstone ever polished in Russia.
Alrosa, the world’s top diamond producer by output in carats, decided to name the five diamonds included in the collection after the Romanov dynasties that played an important role in the development of Russian jewelry business, the company said in a statement.
“This collection is really unique. All five diamonds were manufactured from one rough diamond, which is an exceptional case. It took a year and a half to create the collection,” Sergey Ivanov, president of Alrosa, said.
In 2015, the company discovered a giant, 179-carat rough diamond in the top diamond-producing mine Nyurbinskaya, which was then cut and polished into five smaller gems. The largest one was called The Dynasty, which is the most expensive diamond with the best clarity characteristics ever cut in Russia, the company said.
“The Dynasty, has become the purest of the largest diamonds throughout the history of jewelry in our country,” Ivanov said.
The whole collection was certified by the Gemological Institute of America (GIA) to confirm its rare characteristics as color D and clarity VVS1.
“[Such] characteristics of polished diamonds obtained from one rough diamond are exceptional,” Ivanov added.
The other stones in the collection are a 16.67-carat round-cut diamond, a 5.05-carat oval diamond, a 1.73-carat pear-cut diamond, and a 1.39-carat diamond.
The company, which is state-controlled, plans to auction the diamonds online in November and seeks at least $10 million. The show is a rarity for Alrosa, which specializes in digging up rough diamonds, but not polishing them.
“We work a lot on the technique, combine modern technologies with the secrets of jewelers of the Russian Imperial Court. And we expect that the revival of their traditions will be a worthy contribution to the promotion of the Russian jewelry stones’ brand in the global market,” Pavel Vinikhin, director of diamonds Alrosa, said.
Alrosa also said that the collection would be shown in Israel, Hong Kong and then in the United States this autumn.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.