ALROSA reports on the results of the first stage of its digital tender

ALROSA completed the first round of a digital tender for large rough diamonds, which took place between May 15 and May 29, 2020. At the tender, the company’s long-term clients purchased 102 rough diamonds from 5-10 carats batches.

To support its clients during the crisis period, ALROSA for the first time on record decided selling rough diamonds from boxes piece by piece. This gave the company’s long-term customers an opportunity to replenish their stocks selectively. Having reviewed the digital copies of diamonds, the clients selected and purchased the stones matching their preferences.

The second round of digital tender starts on June 3. It will be open not only for long-term clients, but also to other company’s customers. ALROSA will tender over 700 rough diamonds from 5-10 carats batches.

“The results of the digital tender’s first round show that demand for rough diamonds persists at the market, and our clients are ready to buy diamonds through the online channel. The tender format allows participants to bid basing on the reserve price. To the second round of the digital tender, we have additionally invited our spot and auctions partner companies. This is an important milestone in our efforts to extend sales channels and further digitalize trading and marketing,” commented Evgeny Agureev, Deputy CEO of ALROSA.

Reference

Digital tender bases on technologies that provide customers with a full digital scan of each rough diamond for detailed analysis. ALROSA has been holding pilot digital tenders since October 2019 together with traditional sessions, with digital scans allowing customers to pre-select rough diamonds before coming to the office.

3D-scan data includes each rough diamond’s external shape, internal inclusions, color and fluorescence. Information provided in a standard Sarine Advisor planning format is ready for use by clients’ staff to evaluate possible polished output according to individual needs, preferences and price lists.