IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
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
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
AuctionsNov 12, 2025
Historic Rolex Oyster Fetches $1.7M at Sotheby’sMercedes Gleitze famously wore the watch in her 1927 swim across the English Channel, a pivotal credibility moment for the watchmaker.
GradingNov 12, 2025
It’s Time: GIA’s Express Holiday Service Is Back GIA is offering next-day services for natural, colorless diamonds submitted to its labs in New York and Carlsbad.
MajorsNov 10, 2025
Jewelers Focus on Love, Joy In 2025 Holiday Campaigns Tiffany & Co., David Yurman, and Pandora have launched holiday campaigns depicting their jewelry as symbols of affection and happiness.
SurveysNov 10, 2025
5 Things Retailers Should Know About Holiday Shoppers This YearThe National Retail Federation is bullish on the holidays, forecasting retail sales to exceed $1 trillion this year.
AuctionsNov 10, 2025
300+ Colored Diamonds Up for Auction at Christie’sLate collector Eddy Elzas assembled “The Rainbow Collection,” which is offered as a single lot and estimated to fetch up to $3 million.
EditorsNov 07, 2025
Piece of the Week: An MVP’s Sapphire Tennis Necklace At the 2025 World Series, the Los Angeles Dodgers’ Yoshinobu Yamamoto sported a custom necklace made by California retailer Happy Jewelers.
IndependentsNov 07, 2025
Foundrae’s New Palm Beach Location Is a ‘Golden Solarium’The brand’s seventh location combines Foundrae’s symbolic vocabulary with motifs from Florida’s natural surroundings.
