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Diamond manufactured by ALROSA’s subsidiary sold at Christie's for $ 847,000

15 may 2014
On Wednesday, auction house Christie's in Geneva sold a ring graced with a diamond manufactured by a diamond-cutting unit of ALROSA for $ 847,000, as it follows from the information on the Christie's website. This was reported by FINMARKET.RU.
The brilliant-cut diamond, H, VS1, weighing 17.34 carats and certified by the Gemological Institute of America last March was finally sold at $ 846,958 bringing its average price per carat to $ 48,800. The gem’s starting price was set at $ 570,000, but the ensued bidding ended exceeding it almost 1.5 times.
The rough diamond used to make the auctioned polished diamond had been recovered and cut by ALROSA, according to the annotation accompanying the lot. ALROSA confirmed this information.
This is the first auction at Christie's to exhibit goods produced by ALROSA’s subsidiary. One year ago, the diamond miner agreed to collaborate with another major auction house, Sotheby's, planning to sell at these auctions large and unique diamonds. This is what makes different the collaboration with major auction houses (whose customers are mostly collectors rather than regular clientele of the diamond market) from ordinary auctions held by Brillianty ALROSA in New York, Antwerp, Tel Aviv and Hong Kong selling there polished goods up to 10 carats in size to diamond dealers and jewelers. One of the purposes to collaborate with Sotheby's is to promote Russian diamonds and ALROSA’s brand in international markets.
ALROSA sold 6 diamonds at Sotheby's raking in a total of more than $ 1 million, including 3 fancy pink stones mined by Severalmaz in the Arkhangelsk Region, as Interfax was told by the company.
The fact that Brillianty ALROSA was also negotiating with Christie's was disclosed by its CEO Alexander Malinin in an interview to Interfax last November. He said that direct sales from Brillianty ALROSA were also possible to such major jewelers as Tiffany, Graff and Cartier.
Besides the diamond manufactured by ALROSA’s subsidiary, Christie's put under the hammer the world's largest blue diamond, The Blue, for which it was intended to gain $ 21-25 million, as well as the Ocean Dream, the largest blue-green diamond previously estimated at $ 7.5-9.5 million.