3 Rough Auctions Total Nearly $24M for Alrosa
The sales included the 242-carat rough diamond that could yield a polished diamond worth as much as $8 million.
The Jubilee Auction #100—the 100th sale of special-size (10.8 carats and up) diamonds in the miner’s history—took place in Dubai and featured three big diamonds weighing 136.21 carats, 190.74 carats and 242.31 carats.
Alrosa told National Jeweler last month that it recovered the 242-carat diamond from the Nyurbinskaya kimberlite pipe in Yakutia in 2009 and has been holding onto it ever since.
It is the most significant rough diamond Alrosa has offered for sale in five years, with the opening price set at $8,900 per carat (about $2.2 million total).
William Goldberg President Saul Goldberg estimated the rough stone could yield a polished diamond between 70 and 80 carats that could sell for as much as $8 million.
Last week, Alrosa announced all three diamonds sold for $7.7 million to three companies from India and the United Arab Emirates after 26 rounds of “active bidding” that lasted nearly seven hours.
It did not break down the sale price of each stone.
Alrosa’s other two recent rough diamond auctions garnered a total of $16.2 million.
An online auction that included the option to see the goods in-person in Dubai amounted to $5.5 million, with 14 companies from Belgium, Israel, India and the UAE buying 30 lots weighing a total of 625 carats.
An in-person auction of special-size diamonds held in Antwerp fetched $10.7 million, as 25 companies from Belgium, India and Israel acquired 132 lots weighing more than 2,200 carats.
“It is fitting that we are [seeing]this interest at this very moment, one year after diamond auctions and diamond trade as a whole were frozen,” by the coronavirus pandemic and resulting lockdowns, said Alrosa Deputy CEO Evgeny Agureev.
“This is the best evidence that the diamond industry has successfully passed through unprecedented challenges and proved its resilience.”
The Latest
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.