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Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

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ALROSA holds first-ever auction of 10-carat plus diamonds in New York

12 july 2012

The Diamond Manufacturers & Importers Association of America (DMIA) announced that ALROSA, Russia's largest diamond company engaged in the exploration, mining, manufacture and sale of diamonds and one of the world's major rough diamond producers, had successfully conducted its first-ever auction of large, rough diamonds in New York City. The sale took place during the first week of July, with more than 80 percent of the goods on offer sold. This was reported in a press release distributed by DMIA and received by Rough&Polished on Wednesday. 
The auction was the outcome of a series of talks initiated by the DMIA and agreed in a meeting, held in December 2011 in New York, between Yury Okoyomov, Vice President of ALROSA; Alexander Malinin, General Manager of Brillianty ALROSA, ALROSA's cutting and polishing division; DMIA President Ronald Friedman and DMIA Vice-President Ronnie VanderLinden. The meeting was also attended by Reuven Kaufman, president of the Diamond Dealers Club of New York. 
The by-invitation-only auction featured 51 rough diamonds ranging from very fine to commercial quality, in sizes that ranged from 11 carats up to almost 80 carats. The highlights of the auction were two gem-quality rough diamonds weighing 57.47 carats and 79.65 carats, respectively, which sold for several million US dollars each. 
DMIA President Friedman praised ALROSA's commitment to New York's diamond industry. "New York is still the world number one center for cutting and polishing large diamonds," he said. "We therefore welcome ALROSA's decision to hold an auction here, and look forward to ALROSA's continuing support." 
Meanwhile, DMIA Vice President VanderLinden said that even in a difficult market ALROSA's rough diamond auction created enormous excitement throughout the New York industry and trade. "It was a gratifying experience for all parties. Out of the 51 lots on offer, approximately 80 percent were sold, exceeding ALROSA' expectations. In addition, upon the conclusion of the auction, all the participating buyers were given full information on the prices paid for the goods sold. This is the sort of transparency that will certainly strengthen the long-term relationship that ALROSA, DMIA and the New York diamond manufacturing community aim to develop and will generate more interest in the future ALROSA auctions," VanderLinden stated. 
Neither ALROSA nor DMIA provided information on the total sales sum of the auction and the identity or number of the participating buyers.