Demand for large lab-grown polished diamonds will grow in high-income countries

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Lev Leviev becomes largest rough diamond buyer at ALROSA's tender in Vladivostok

09 september 2016
(vedomosti.ru) – LLD Diamonds (part of Leviev Group of Companies owned by Israeli businessman Lev Leviev) became the largest buyer of rough diamonds at ALROSA's first auction in Vladivostok, according to two sources close to the companies and CEO of GK Ruiz (part of the Leviev Group of Companies) Valery Morozov. ALROSA representative declined to comment. In early September, ALROSA sold 19 large stones weighing 1098 carats for $14.6 million on diamond tender in Vladivostok. LLD diamonds bought diamonds worth $6.4 million, Morozov said. Meanwhile, ALROSA sold 28 polished diamonds during the tender, 18 of which were fancy, for $3.6 million. LLD bought several diamonds for $796 000.
"ALROSA invited us to take part in the auction, and we were able to buy a big and rather attractive lot," - Morozov said. It was important for ALROSA from the political perspective to demonstrate that there is an infrastructure in Vladivostok for diamond trading and it is no worse than in Antwerp, Tel Aviv or Moscow, he explains. "Rough diamonds will be cut and polished, and some of them will be sold in one of the stores of Moscow Jewelry Plant, which is owned by Leviev," – according to a source close to the businessman's structures.
ALROSA plans to organize diamond auctions in Vladivostok regularly on the Eurasian Diamond Centre's trading floor. The Centre allows to accelerate the timing of transactions by facilitating customs and visa requirements, the company said.