ALROSA is developing tools for remote rough diamond sales. The company has substantially expanded the amount of data provided on lots in digital auctions. This helps the clients to take informed decisions on purchases bridging the gap between offline and online tender efficiencies.
The first diamond sales digital auction in the new format will be held from 22 September to 13 October 2021, with over 2,000 carats of special-size rough diamonds (from 10.8 carats upwards) being put up for sale.
Bidders will have access to additional details on the features of the diamonds, as well as media files. Besides the traditional instrumental assessment data, each stone would be accompanied with expert color assessment made using GIA samples, as well as with fluorescence intensity and defect characteristics descriptions. A video of the diamond against various backdrops will enable bidders to visually evaluate the nature and color of inclusions, while UV photos will help them to line up diamonds by the luminescence degree.
Evgeny Agureev, Deputy CEO of ALROSA, said: “Expanding the package of data on the diamonds put up for auction is a response to the wishes of our clients. In eighteen months, digital auctions have grown from a pilot project into a full-fledged sales channel. The market has duly appreciated this tool, which not only compensates for the restrictions on foreign travel caused by the pandemic but also helps to make the industry more transparent and hi-tech. Through continuous dialogue with our buyers, we are tirelessly working to refine the process, in order to make digital auctions as similar as possible to traditional auctions in terms of convenience and efficiency.”
ALROSA began testing the digital rough diamond sales format in the autumn of 2019, and in the spring of 2020 held the first digital auction for special size rough diamonds. The technologies used enable buyers to remotely analyze the key parameters of every diamond. 3D scanning data are provided in the standard Sarine Advisor planning format, and buyers’ experts can use them for planning and evaluation of polished diamond output. All the rough diamonds sold via digital auctions allow to guarantee the traceability of polished diamonds back to the mine of origin and to confirm their provenance using digital passports.
ALROSA hosted a webinar for clients, introducing the latest developments in innovative diamond tracing solutions and the company’s approach towards the industry’s sustainable future. Taken together, these initiatives guarantee the responsible sourcing of diamonds throughout the whole value chain.
Responsible sourcing is a cornerstone of any modern diamond business. Jewellers and retailers face rapidly growing requests from consumers for goods with a proven positive social and environmental footprint. When buying a diamond, people want to be sure that it is genuine, and that society has benefited from its extraction. This is why diamond tracing technologies are always established alongside ESG commitments, comprising an integral part of the sustainable diamond business.
ALROSA pays close attention to ESG matters and concerns and meets the highest responsible business standards. It has regulated the socio-economic development of Yakutia diamondiferous province since its inception, focusing on minimizing its environmental footprint and placing a special emphasis on ensuring the integrity of the supply chain from mine to customer.
The company develops innovative tracing solutions that provide a guarantee of origin for every polished diamond inside the program, as well as a comprehensive set of B2B and B2C marketing materials, including the ALROSA Diamond Passport and Diamond Story.
ALROSA Deputy CEO, Evgeny Agureev, said, “Sustainability has always been at the heart of ALROSA operations. We are not just city-forming, but district-forming company in a remote region with a harsh climate, producing diamonds in full accordance with the highest international standards. With all current production concentrated in Russia under strict industry regulation, we guarantee the origin of every crystal. Moreover, we have developed state-of-the-art solutions, making this guarantee credible. This is exactly what jewellers, retailers and final consumers need today.”
In 2021, ALROSA introduced a new solution under its ALROSA Provenance program, a ground-breaking diamond-tracing technology using non-invasive laser marking. This physical nano marking allows the precious stone to be identified with 100% accuracy. The mark is imprinted inside the crystal lattice, across the atomic structure of the entire diamond, making it invisible without a scanner and impossible to polish off. It is a three-dimensional code linked to the ALROSA digital platform, offering in-depth information about the diamond’s origin and characteristics, its unique identification number, photo, video and more. The company is offering its partners marked diamonds and the equipment to read them. Scanning the code takes less than a minute and will eventually be optimized to ensure even greater efficiency.
