ALROSA Launches Digital Tender for Large Rough Diamonds

MOSCOW, March 25, 2020 /PRNewswire/ -- ALROSA has launched a digital tender for special size rough diamonds (over 10.8 carats). It allows customers to purchase stones despite current travelling restrictions imposed between countries due to the COVID-19 pandemic. The auction takes place between March 23 and April 6. 

Due to the global situation, the company decided to cancel the upcoming special size auctions, simultaneously offering customers an opportunity to take part in a digital tender.

Digital tender is based on the technology that provides customers with a full digital scan of each rough diamond for detailed analysis. This allows buyers to thoroughly evaluate the rough and make informed purchasing decisions based on comprehensive data without visiting the company's office. 

"Health of our employees and customers is of prime importance to us. Therefore, we have decided to cancel the upcoming auctions and shorten those already in progress. ALROSA is in constant contact with customers from various countries and considers different supporting measures. One of the opportunities is a digital tender. It will not replace the traditional trading model, but becomes a solution for those who are ready to work remotely right now. We will provide all the necessary information about our rough diamonds and will negotiate with customers on payment terms and logistics," said Evgeny Agureev, Deputy CEO of ALROSA.

Reference

Since October 2019, ALROSA has been holding monthly digital tenders, and the results showed customers' interest in such a format in addition to the traditional approach. Digital scans allow selecting rough diamonds the customer wants to purchase before he comes to the office. Customers have been able to ensure that digital scans provide an adequate data about each stone.

ALROSA implements this project using various technologies. The information from 3D scanner consists of each rough diamond's external shape, internal inclusions, anticipated color and fluorescence. The data is provided in a Sarine Advisor software, a planning solution for rough diamonds. This allows clients to evaluate various opportunities for cutting, including shapes, sizes and quality of future polished diamonds.

Photo: https://drive.google.com/file/d/1JWTs5JNp_W3Db-TtFEwmoXjOWy-04tRg/view

SOURCE ALROSA