CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
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.
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
Supplier BulletinAug 06, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
Weekly QuizAug 06, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
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.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
CollectionsAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn DownThe massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
