Russia's diamond monopoly Alrosa has held its first electronic auction and sold $11 million worth of diamonds, it said on Wednesday.
The state-owned company, which accounts for over one-quarter of international raw diamond output, offered 108 lots and invited 30 Russian and foreign companies to participate in the sale, it said in a statement.
Alrosa said the auction was successful and it now plans to hold regular auctions from the fourth quarter of 2011.