January 2021 saw the Dubai Diamond Exchange (DDE) host 4 rough diamond tenders in addition to ALROSA and De Beers presenting goods to their contractual buyers. As a result and following strong seasonal sales into the American and Chinese markets, representatives from over 400 Indian based companies made the short journey to Dubai to purchase rough.Trans Atlantic Gem Sales (TAGS) held a very successful rough diamond tender in Dubai from the 20th to the 27th January 2021, presenting 87,000 carats of their regular productions from Southern Africa and Angola, with a value close to $60m. Around 150 companies took appointments however several companies had to cancel due to positive COVID-19 results on arrival in UAE.
TAGS extended the event by 2 days in response to the high level of demand for appointments and to allow sufficient time for analysis of the goods. Most of the visiting companies were from India as travel restrictions and quarantine regulations limited the numbers of regular attendees from other important centres.
In addition to the significant number of Large Single stones, +10ct and Z / MB range from 3grs – 10ct which are a regular feature, this month they had an increased quantity of high-quality goods in -3gr sizes, which was appreciated by their customers and hoped will be available regularly going forward. Overall, TAGS experienced extraordinarily strong demand and achieved by far the highest prices they have seen since before the COVID-19 crisis.
For the first time TAGS reported that the event closed with 100% sold. In total, around 60 companies were successful in securing goods. TAGS next Event will take place from 24th February – 1st March 2021.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
