Dubai to witness auction of rare 242-carat rough diamond by Russia’s Alrosa

Russian state-controlled diamond producer Alrosa will offer a rare 242-carat rough diamond -- one of the biggest gem-quality stones it has mined
this century -- for sale at a Dubai auction on March 22, the company said on Friday.

The crystal-clear diamond is the size of a small egg. Alrosa, the world’s largest producer of rough diamonds, competes with Anglo-American unit De Beers.

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“Rough diamonds, which potentially allow for cutting a polished diamond larger than 100 carats, are extremely rare in nature. Even less often are such gems tendered,” Evgeny Agureev, Alrosa’s head of sales, said in a statement.

An employee shows gem-quality stones, including a rare 242-carat rough diamond that will be offered at the 100th international auction of Russian state-controlled diamond producer Alrosa, during a presentation in Moscow, Russia, on February 25, 2021. (Reuters)

Alrosa last offered a rough diamond of such a size at open auction five years ago. Russian law states that the miner must first offer its rough diamonds larger than 50 carats to the Gokhran state repository.

A rare 242-carat rough diamond, which will be offered at the 100th international auction of Russian state-controlled diamond producer Alrosa, is placed on scales during a presentation in Moscow, Russia February 25, 2021. (Reuters)

The diamond was held back until now to mark Alrosa’s 100th international auction.

The auction price will start from $2 million.

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