Industry News by Nemesis

Trans Atlantic Grosses $38M in Dubai Tender

April 15, 2019

 

Trans Atlantic Gem Sales (TAGS) sold $38.4 million worth of rough diamonds at a tender in Dubai earlier this month. 

A total of 41,347 carats of high-quality stones from mines in South Africa, Angola and Namibia yielded an average price of $928 per carat. The sale included a number of large, single stones and exceptional specials, the company said Wednesday. 

“This month saw a 5% increase in companies viewing [the goods],” a company spokesperson noted. “TAGS utilized 30 show rooms in the Dubai Diamond Exchange to present the production.” 

Some 204 companies attended the sale, which ran from March 26 to April 2. TAGS will hold another six tenders in 2019. 

TAGS facilitates rough auctions and tenders on behalf of diamond producers, with operations in Antwerp, Cape Town and Dubai. 

Image: Rough diamonds. (Trans Atlantic Gem Sales)

 

Source: Rapaport

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