RAPAPORT… 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)
Trans Atlantic Reaps $31M at Dubai Tender
The Bottom Line
- TAGS sold 41,335 carats of high-quality rough diamonds from South Africa and Angola for an average of $741 per carat.
- The Dubai tender, held from September 25 to October 2, attracted 131 companies, marking a record level of interest despite a softer rough market.
- Due to high demand, TAGS extended daily viewing times and the final bidding deadline during its ninth tender of the year.
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