Alrosa Tokyo Polished Diamond Auction - $2.18 million

Russian diamond miner Alrosa sold $2.18 million worth of polished diamonds at an auction in Tokyo this week. The goods on offer ranged from 0.53 carats to a fancy yellow Radiant cut stone weighing 31.22 carats. Demand was strongest for larger stones of over 2 carats.

Thirty-three parcels of GIA certified stones were sold at the auction, which was the third that Alrosa has held in Japan. The auctions have been run in conjunction with the Tokyo Diamond Exchange.

The results of the auction signify a favorable development for Alrosa in Japan. The last auction it held there ended with $580,000 in sales. In 2005, the auction yielded $410,000.