Alrosa Diamond Sale Brings in $10.4 million

Gem Investing

The company’s second Hong Kong-based sale for 2018 featured a variety of rough diamonds.

ALROSA (MCX:ALRS), has released the final results from an auction in Hong Kong for the sale of a variety of rough diamonds all weighing 10.8 carats or more. The company earned US$10.4 million from the sale, which was 1.5 times higher than the starting price.

As quoted from the press release:

In total, 100 gem-quality lots with a total weight of 1550 carats were sold. The companies from the largest diamond trading centers, including Hong Kong, Belgium, Israel, India, the UAE and Russia, attended the auction. 28 firms were recognized as winners for different lots.
“We successfully held this year’s second auction in Hong Kong, which is one of the key regions in our business. The composition of participating companies turned out to be quite diverse: we invited more than 80 companies, the geography covers almost all the world diamond centers. In autumn, our third auction in Hong Kong will take place. We also plan to bring there an interesting assortment,” said Evgeny Agureev, the member of the executive committee, Director of the USO ALROSA.
In September 2018, ALROSA will hold an auction in Hong Kong as part of the jewelry exhibition Hong Kong Jewelery & Gem Fair.

Click here to read the full press release