ALROSA to hold 30 auctions for large diamonds in 2018

MOSCOW, Dec 26 (PRIME) -- Russian uncut diamond mining giant ALROSA plans to hold 30 international auctions to sell diamonds of 10.8 carats and more in 2018, the company said in a statement on Tuesday.

The company plans to hold five auctions in January–March 2018, 10 auctions in April–June, six auctions in July–September, and nine auctions in October–December.

ALROSA plans to hold 11 auctions in Moscow, two in Vladivostok, two in Belgium’s Antwerp, four in the United Arab Emirates’ capital of Dubai, six in the Israeli city of Ramat Gan, three in Hong Kong, and two in its trade representative office in New York.

“Russian legislation says that diamonds of special sizes may be sold only through auctions. These diamonds are traditionally in high demand on the Russian and international markets, and 60–100 companies from different countries usually partake in these auctions,” the company said citing Yevgeny Agureyev, head of United Selling Organization (USO) of ALROSA.

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