MOSCOW, March 17. /TASS/. Alrosa will hold an annual auction of investment-grade diamonds with an estimated total value of one billion rubles ($11.9 mln) on March 19-21, the press service of the Russian diamond miner said.

"The auction will offer several dozen high-quality diamonds with significant investment potential. These include large, colorless diamonds in both round and fancy cuts, ranging from 3 to 10 carats, as well as a selection of rare fancy-colored diamonds," the company informed.

The total value of the lots to be auctioned off is estimated at one billion rubles ($11.9 mln).

The piece-de-resistance will be a 10-carat round diamond that will start at an opening price of 50 mln rubles ($600,000), Alrosa said. The diamond was cut from a 350-million-year-old raw stone mined in Yakutia in 2019.

Two oval-shaped diamonds should also fetch a high price at the auction. These are a colorless 6.09 carat diamond with the highest grade (D), and a yellow 5.09-carat diamond.

"Given their exceptional color, quality, and craftsmanship, these diamonds fall into the category of exceptionally rare gems," said Elena Sukhoveeva, the director of the ALROSA Diamond Exclusive program.