ALROSA summed up results of online auction for special size rough diamonds. This format allows customers to review and evaluate rough diamonds remotely through the digital twin technology.
The December auction became this year’s fourth held online for special size (over 10.8 carats) diamonds. At the auction, ALROSA sold 185 rough diamonds with a total weight of 2,400 carats.
The overall revenue amounted to $7 million. Clients from Belgium, India, Israel, Russia and UAE (33 companies in total) bought the goods.
“The latest digital auction’s results show that our clients are increasingly using this format, having appreciated all its advantages and opportunities. In 2020, we held four online auctions for rough diamonds larger than 10.8 carats. We are happy to note that this format, despite being rather new, wins the customers’ trust, as at the December auction they bought 80% of goods,” commented Evgeny Agureev, Deputy CEO of ALROSA.
ALROSA started piloting digital auctions in autumn 2019 with regular goods. The company’s first digital auction for special size rough diamonds was held in spring 2020. This allowed buyers to select and purchase the rough they needed despite the suspension of traditional auctions due to severe COVID-related restrictions. Today this format complements the usual auctions with viewings at ALROSA’s sales offices, which resumed in May 2020 after a several-month break.
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Under the current legislation, ALROSA sells special-size (over 10.8 carats) rough diamonds at auctions only.
Digital auctions rely on the digital twin technology, which allows buyers to get access to the complete digital scan of each rough diamond for an in-depth analysis.
Each rough diamond’s 3D-scan includes comprehensive data on its shape, internal inclusions, color and fluorescence. The information provided in a standard Sarine Advisor’s planning format is ready for use by clients’ experts to evaluate possible polished diamond output according to their needs and current price lists.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
