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Alrosa diamonds to sparkle at Sotheby's auctions

By The Siberian Times reporter
28 May 2013

The Siberian producer - owned mainly by the Russian state and the Sakha government - hopes to shine on the international market.

Alrosa - with its base in the Republic of Sakha, or Yakutia - is the world's largest holder of precious stones. Picture: Alrosa website

A letter of intent was inked on 27 May and comes ahead of a plan to offer 14% of Alrosa shares on the market later this year. The link-up follows a test auction of two 'fairly large stones' in New York for $500,000.

The agreement allows for Alrosa to sell some of its premium 'large and unique' diamonds on the world markets at various Sotheby's auction houses, it is understood. Alrosa - with its base in the Republic of Sakha, or Yakutia - is the world's largest holder of precious stones, and has reported diamond reserves of 1.28 million carats.

Diamonds sold under the agreement will be certified by the Gemological Institute of America. It will include diamond-encrusted jewellery, it is understood. 

The deal has been long reaching fruition and will give a new outlet for Alrosa which, until now, has sold to regular customers in various countries including Belgium, Israel, the United States, India, and Hong Kong - or through its own auctions. 

The pact will widen Alrosa's client base and boost the brand on international markets, it is hoped.

Comments (1)

THANK FOR GAVE GOOD ROUGH DIAMOND SELL IN THE WORLD WE WANT TO LOOK ONE TIME YAKUTIA AUCTIONS IF YOU WANT MY COMPANY DEATILE THAN PLEASE WRITE TO US
WE THANKFULL TO YOU MY EMAIL I D -- pufoam@eth.net
HARSHAD PATEL, BOMBAY INDIA
13/11/2013 22:00
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