Trans Atlantic Gem Sales (TAGS) recently held a rough diamond tender in Dubai from the 22nd to the 27th January 2020.
The first Rough Diamond Tender of 2020 took place in the Almas Tower, Dubai between the 22nd and 27th January.
Due to Christmas and New Year holidays, the tender was smaller than usual, but TAGS welcomed in excess of 100 regular buyers to view the goods. Approximately 90% of the goods presented were sold.
Following a solid Christmas season, there was a restocking demand from manufacturers, and TAGS experienced good demand for rough across both the South African and Angolan productions in all qualities and size ranges.
A broad range of manufacturers from all the major centres was successful in securing rough.
It remains to be seen whether the increased demand the market regularly seems to see in the first quarter will be sustainable as the year progresses. TAGS is confident that the option of selective purchasing, and the control over financial exposure offered through the tender system will provide manufacturers with a more secure system to manage inventory and finance in 2020.
TAGS anticipates a return to more regular volumes for their upcoming tender commencing the 21st February and closing on the 26th February 2020.