Market News

No summer lull in the diamond market this year

2021-10-14

According to Yevgeny Agureyev, Deputy CEO of ALROSA, the company summing up this last September the results of three past auctions for the sale of large diamonds observed a steady demand for expensive high-quality rough throughout the trading period, including August, which is traditionally considered a relatively quiet period.
The company's statement says that under Russian law, ALROSA sells special size diamonds (weighing 10.8 carats and more) at international auctions. Viewings take place either in Moscow or abroad for the clients’ convenience. In August and September, auctions were held in Antwerp, Dubai and Ramat Gan. As a result, 80 highest bidding companies, including companies from Belgium, Israel, India and UAE, purchased 349 lots weighing over 6,000 carats for $37.8 million.
“At a time when international travel remains limited, there was strong interest in all three international auctions. Together, they attracted more than 300 registered participants. In the second half of September, we also launched an online auction in response to the market’s demands. It has a new expanded format, with lots’ descriptions supplemented by expert evaluations and additional photos and videos. This auction, running until October 13, enables clients to analyse and select diamonds completely remotely,” Yevgeny Agureyev said.
 
Vladimir Malakhov, Rough&Polished

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