PodcastsJul 22, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingMar 02, 2021
This 242-Carat Rough Diamond Is Heading to Auction
Recovered in 2009, it’s the most significant stone offered for sale by Alrosa in five years.
Alrosa mined this 242-carat diamond at the Nyurbinskaya kimberlite pipe in Yakutia 12 years ago. It is going up for auction this month in Dubai. (Photo courtesy of Alrosa)
Moscow—Alrosa is marking its 100th auction of large diamonds with a rare gem indeed—a 242.31-carat chunk of rough that’s expected to sell for millions.
One of the largest gem-quality crystals mined by Alrosa in the last 20 years, the diamond is the centerpiece of the company’s upcoming sale in Dubai.
Alrosa told National Jeweler that it mined the 242-carat stone back in 2009, at the Nyurbinskaya kimberlite pipe in Yakutia. It has been in the miner’s collection ever since and is the most significant stone offered for sale by Alrosa in five years.
Normally, Alrosa cuts and polishes rare finds in-house, as it did with “The Spectacle” collection of natural color diamonds.
This year, the company decided to sell the 242-carat near-colorless diamond alongside two other large chunks of rough to mark its 100th auction of large diamonds.
It added: “We feel this milestone is especially important as exactly 12 months ago our entire industry faced the toughest call in its history,” referring to the decisions that had to be made around mining and production as COVID-19 swept the globe.
One of the largest gem-quality crystals mined by Alrosa in the last 20 years, the diamond is the centerpiece of the company’s upcoming sale in Dubai.
Alrosa told National Jeweler that it mined the 242-carat stone back in 2009, at the Nyurbinskaya kimberlite pipe in Yakutia. It has been in the miner’s collection ever since and is the most significant stone offered for sale by Alrosa in five years.
Normally, Alrosa cuts and polishes rare finds in-house, as it did with “The Spectacle” collection of natural color diamonds.
This year, the company decided to sell the 242-carat near-colorless diamond alongside two other large chunks of rough to mark its 100th auction of large diamonds.
It added: “We feel this milestone is especially important as exactly 12 months ago our entire industry faced the toughest call in its history,” referring to the decisions that had to be made around mining and production as COVID-19 swept the globe.
The opening price on the 242.31-carat diamond is $2 million, or about $8,900 per carat. The shape of the rough and the location of the inclusions mean it could be polished into an oval-shaped diamond of 70 to 80 carats. (Photo courtesy of Alrosa)
The 242-carat diamond is described as near colorless with a “minor” yellowish-greenish tone.
Alrosa experts noted that because of the diamond’s proportions and the distribution of inclusions, the rough lends itself to an oval-shaped diamond that could be, William Goldberg President Saul Goldberg estimated, 70 to 80 carats in size and sell for as much as $8 million.
“It’s not often that a colorless 242-carat piece of rough comes up for auction,” Goldberg said in a statement shared via email with National Jeweler.
“Without actually holding the rough in my hands and not knowing what shape it will be, it’s hard to know the exact value. However … with the current market for large diamonds being very strong, it could be worth up to $8 million. Large diamonds are selling for high prices today. People want big, beautiful diamonds, and it gets people very excited.”
Alrosa said the opening price on the stone is $8,900 per carat, which is about $2.2 million.
Editors' Picks
Sponsored by
The Jubilee Auction #100 is scheduled to take place March 22. Viewings will take place March 14 to 21 at the Alrosa sales office in Dubai.
In addition to the 242-carat diamond, the sale also includes a 191.74-carat diamond, a 136.21-carat stone and a range of diamonds that are 10.8 carats or larger.
In addition to the 242-carat diamond, the sale also includes a 191.74-carat diamond, a 136.21-carat stone and a range of diamonds that are 10.8 carats or larger.
More on Sourcing
The Latest
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
