Trans Atlantic Reaps $31M at Dubai Tender

By Rapaport News / October 11, 2018 / / Article Link

RAPAPORT... Trans Atlantic Gem Sales (TAGS) sold $30.6 million worth ofrough diamonds during a tender it held in Dubai in late September and earlyOctober, it said Wednesday. The company sold 41,335 carats of high-quality stones frommines 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 appointmentsrequested were all at a record level, and required TAGS to extend the viewingtimes each day and extend the final bidding deadline," a company spokespersonsaid. Some 131 companies attended the sale that took place fromSeptember 25 to October 2, the ninth the company has held this year. TAGS facilitates rough auctions and tenders on behalf ofdiamond producers, operating out of sales offices in Antwerp, Cape Town andDubai. Image: Diamonds for tender. (Trans Atlantic Gem Sales)