Alrosa Sells Most Expensive Gem in Company History

- August 8th, 2018

The exquisite sparkler was part of a larger collection that brought in approximately US$10 million for the diamond miner.

Russia-based diamond producer Alrosa (MCX:ALRS) has sold its most expensive stone to date, the 51-carat Dynasty diamond. The exquisite sparkler was part of a larger collection that brought in approximately US$10 million for the miner.

The Dynasty diamond was the centerpiece and focal point of the Dynasty collection, which consisted of five individual diamonds manufactured from a 179-carat rough diamond.

According to the company, it took 18 months to create the collection of diamonds. Each stone was cut and polished at the manufacturing division of the Russian miner, Diamonds Alrosa.

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While all the diamonds were cut from the larger rough stone, the Dynasty diamond was by far the largest and most lucrative. Weighing in at 51.38 carats, the traditional round, D color, VVS1, brilliant-cut diamond is the purest of all large diamonds manufactured in Alrosa’s history and is also a first for Russia.

Four of the stones in the Dynasty collection were sold at auction in November 2017, while the larger Dynasty diamond was sold on Alrosa’s electronic trading platform on August 2, 2018.

“We are happy to announce the successful sale of the whole Dynasty collection,” said Sergey Ivanov, Alrosa’s CEO. “For Alrosa it was the first experience of creating our own collection of diamonds, of a road show in different countries worldwide, and of the sale at an electronic platform.”

Aside from being the company’s first curated collection, the diamonds also held special significance culturally for the jeweler. The 179-carat rough stone used to create the five gems was dubbed the Romanovs after the Russian royal family that ruled between 1613 and 1917.

The Romanovs was unearthed in 2015 from the Nyurbinskaya kimberlite pipe in the Republic of Sakha. The collection itself was also meant to symbolize the country’s rich history, hence the name dynasty.

“There was a good reason to choose the name for the collection, which is connected with Alrosa’s intention to revive the traditions and memory of renowned Russian jewelers famous for their craftsmanship and filigree,” said the company in its announcement of the sale.

Russia’s relationship with diamond production dates back to the 18th century, when the first cutting and polishing factory was founded by Peter I.

Alrosa’s share price was down slightly on Wednesday (August 8) at 98.55 rubles.

Image courtesy of Alrosa.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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