ALROSA Planning 30 International Auctions in 2018

ALROSA (MCX:ALRS) announced that in 2018 it plans to hold 30 international auctions for the sale of special-size natural rough diamonds above 10.8 carats. Two will be held in New York, where the company’s trade office will resume full-scale operation.
As quoted in the press release:

Five auctions will be held in the I quarter, ten – in II, six in III, and nine auctions in the IV quarter.
The largest number of auctions, eleven, will be held in Moscow. In April and September, the Company will hold auctions in Vladivostok. It is also planned to hold auctions in the largest international diamond trading centers where ALROSA’s sales offices operate. Two of them will be held in Antwerp (Belgium), four – in Dubai (United Arab Emirates), six – in Ramat Gan (Israel), three – in Hong Kong (PRC).
Two more auctions – in May and October – will be held in ALROSA’s trade office in New York that will resume its full-scale operation early in 2018.

Yevgeny Agureev, director of the United Selling Organization of ALROSA, commented:

Russian laws stipulate that special size rough diamonds over 10.8 carats can be sold only at auctions. Such diamonds are traditionally in high demand both on Russian and international markets – as a rule, 60 to 100 companies from different countries take part in auctions for their sale.

Click here to read the full ALROSA (MCX:ALRS) press release.