OTHER

Chinese buyers dominate Alrosa's first coloured auction

Auction in Hong Kong had good results despite Typhoon Manghout

Staff reporter

This article is 6 years old. Images might not display.

It said 210 diamonds were sold in the first round at the Hong Kong Gem & Jewellery Fair, with most going for well above their starting price, particularly the rare "hero stones".

One of these, an oval cut fancy vivid orangey-yellow 15.11 carat diamond doubled in prices during bidding, although the company did not give any pricing information.

The most active bidders were Chinese companies, with nine buying 20 large stones. There was also special interest from Chinese buyers in coloured diamonds under one carat, with these sold in groups.

Alrosa said over 100 participants had been active on its electronic trading platform during the auction.

Alrosa cutting division director Pavel Vinikhin said the collection taken to Hong Kong was the largest in the company's history.

He said the auction results had been positive, although Typhoon Manghout had hit attendance at the fair.

Due to this, the company is planning to hold another auction in the short-term.

"We also plan to hold the ‘True Colours' auction on a regular basis - once or twice a year," Vinikhin said.

"The results of the bidding clearly show that we have successfully taken another significant step towards our goal of becoming the world leader in the production of coloured diamonds."

Alrosa's shares were up 0.96% in Moscow on Thursday after the announcement to Rb106.15 (US$1.61).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.