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Russian diamond maker Alrosa opts for digital auction due to pandemic

The Russian diamond maker Alrosa announced this Monday that it will promote a digital auction for the purchase of large-sized rough diamonds, opting for this model due to the circulation difficulties resulting from the covid-19 pandemic.


"The procedure, which will temporarily replace the live auction model, appears to mitigate the impact of the sales interruption caused by travel restrictions due to the coronavirus outbreak," reads the statement, which states that, "during the contest, which ends on April 6, customers will be able to see a complete three-dimensional scan of each diamond, also having the opportunity to observe and analyze all the properties of each stone ".

The company's vice president, Evgeny Agureev, assured that this modality "will not replace the traditional commercial model", but argues that this "is the appropriate solution for those who are willing to work under the conditions that the moment demands".

Alrosa is present in Angola through its participation in Sociedade Mineira de Catoca, a company that guarantees the extraction of more than 75 percent of Angolan diamonds.

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