ALROSA To Hold Auction Of Large Diamonds In Israel

(IDEX Online) – ALROSA, the world's largest diamond miner, will hold an auction for the sale of special size rough diamonds (weighing over 10.8 carats) in Israel from August 19 to September 6.

The company will auction 202 gem-quality rough diamonds with a total weight of 3,165 carats. About 100 companies from Israel, Belgium, India, Hong Kong and Russia were invited to participate in the auction.

"The end of summer is traditionally a good time for auctions: the demand for rough diamonds is growing. It is also relevant for Israel where our goods are always in demand and most local companies specialize in large-size rough diamonds. According to all these factors we made changes to our plans and increased the number of stones for the sale. Now we look forward to a high demand for our diamonds and good results of the auction," said Evgeny Agureev, a Member of the Executive committee, Director of the USO ALROSA.

Under Russian law, diamonds of special sizes - weighing over 10.8 carats - can only be sold at auctions.

ALROSA will hold another auction in Israel in November.