Smaller, cheaper goods Trans Atlantic Gems Sales (TAGS) offered at its most recent tenders saw weak results, while larger, higher-quality goods proved more popular.
The company held two tenders in April, the first of which contained a broader range of origin, size and qualities, TAGS said Wednesday. The other sale included the company’s regular production from mines in southern Africa, which focused more heavily on high-quality specials above 10.8 carats as well as goods over 2 carats. In total, TAGS presented approximately $30 million in rough, it said.
Both events enjoyed good foot traffic, with more than 100 companies from leading manufacturing centers taking part, TAGS noted. However, fewer Israeli buyers than usual participated due to the Passover holiday, which took place over the same period.
The company reported a 50% sell-through rate for rough from the first tender, with stronger sales in the higher-quality, larger size ranges. Meanwhile, smaller, cheaper goods proved weaker at the event. Meanwhile, TAGS sold just over 75% of lots on offer at the second tender, as a result of a better product mix, with higher-quality large stones.
TAGS also noted that buyers were more cautious with their purchases in light of the upcoming summer holidays in India. The company will hold its next tender from May 19 to 23 in Dubai.
Image: Rough diamonds. (Trans Atlantic Gem Sales)
