ALROSA Reopens Office in New York and Successfully Holds the First Auction

ALROSA, the world's largest diamond mining company, has reopened its representative office in New York and successfully held the first in two years auction for the sale of special size rough diamonds (weighing over 10.8 carats).

The auction was held in the period from April 23 to May 11. In total, 50 companies from world's largest diamond trading centers, including 7 firms from the USA and 43 from Belgium, India, Israel and the United Arab Emirates, took part in it.

The company sold 63 lots with a total weight of 1040 carats for USD $10.38 million.

"We are glad to reopen ALROSA's office in New York and now are forming its team. The results of the last auction show that American customers are also happy about this circumstance, because it is important for them to purchase high-quality rough with guaranteed origin. We brought standard color assortment to the auction in New York and sold it with a good premium to the starting price. We saw a strong interest, primarily from American diamond manufacturers. I'm sure that those who did not have opportunity to take part this time will definitely do it next time," told Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA.

In October 2018, ALROSA plans to hold another auction in New York for the sale of large diamonds weighing over 10.8 carats, as well as a large-scale tender to sell polished diamonds of its own manufacture.

The United States is the world's largest market for the consumption of diamond jewelry. The ALROSA office in New York was opened in 2006, but since 2016, it has not been operating for organizational reasons.

ALROSA's trading offices are also located in the world's major centers of diamond trade: Antwerp, Hong Kong, Dubai, Ramat Gan. There is also a representative office in Mumbai.