Diamond mining company ALROSA has sold at a public auction the Dynasty diamond – a 51.38-carat round stone, the central diamond in the same-name collection.
The total revenue from the sale of the Dynasty collection amounted to about $10m.
ALROSA held an auction for the sale of the Dynasty diamond at its own electronic trading platform on August 2, 2018. The Dynasty stone, a 51.38-carat traditional round brilliant-cut diamond, D color (colorless), VVS1 clarity (with no inclusions), is the purest of all large diamonds manufactured throughout the Russian jewelry history. Following the auction, it has officially become the most expensive stone ever sold by ALROSA.
The Dynasty collection consisted of five diamonds manufactured from a 179-carat rough diamond. It took a year and a half to create the collection. The collection was manufactured by experts from the cutting and polishing division of the Company – DIAMONDS ALROSA branch.
In November 2017, ALROSA held the first auction for the sale of the collection. Four of five stones were sold at this auction, the excess of final prices over reserve prices averaged about 30%.
“We are happy to announce the successful sale of the whole Dynasty collection. For ALROSA it was the first experience of creating our own collection of diamonds, of a road show in different countries worldwide, and of the sale at an electronic platform. Today we can finally say that this experience has become a success for the Company. The total revenue from the sale of the Dynasty collection amounted to about USD 10 million, which is in line with our initial estimates. We will keep on working and introducing new diamond collections to the market,” said ALROSA CEO Sergey IVANOV.
Source: Company Press Release