Industry News by Nemesis

Trans Atlantic Reaps $31M at Dubai Tender

October 11, 2018

 

Trans Atlantic Gem Sales (TAGS) sold $30.6 million worth of rough diamonds during a tender it held in Dubai in late September and early October, it said Wednesday. 

The company sold 41,335 carats of high-quality stones from mines in South Africa and Angola for an average price of $741 per carat. 

“Despite what is currently a slightly softer rough market, the level of interest, number of companies viewing and numbers of appointments requested were all at a record level, and required TAGS to extend the viewing times each day and extend the final bidding deadline,” a company spokesperson said. 

Some 131 companies attended the sale that took place from September 25 to October 2, the ninth the company has held this year. 

TAGS facilitates rough auctions and tenders on behalf of diamond producers, operating out of sales offices in Antwerp, Cape Town and Dubai. 

Image: Diamonds for tender. (Trans Atlantic Gem Sales)

 

Source: Rapaport

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