Trans Atlantic Gem Sales (TAGS) recent sales event ran from 24th Feb – 2nd March 2022. Following a very successful Dubai Diamond Conference on 21st Feb and numerous other trade and jewellery events throughout the week, TAGS presented one of the largest tenders to date of its regular Southern African productions, according to a press release from the company.
A high-level delegation of Angolan government officials and representatives from Sodiam EP were present throughout the week. The trade was informed of the establishment of The Angolan Diamond Exchange and Tender facility in Luanda, for which Trans Atlantic Gem Sales have been selected to manage and organise sales events on behalf of Sodiam EP.
As a result of this association, TAGS has received a huge amount of interest from its customers as to when tenders will commence. This information will be communicated to all customers as soon as possible.
At the February tender TAGS presented close to 60,000 carats of gem-quality rough with a value of $75m to around 130 companies from all the centres. Sales were made to around 70 companies representing all the leading centres, and all goods were sold.
While there were signs that the upward price trend was beginning to slow down in the middle of the month, recent events in Russia have again caused concern and uncertainty amongst rough buyers.
From what we have seen during the past week the market remains very strong, and we witnessed extremely strong demand across the full range of the rough presented.
TAGS' next sales event will be in Dubai from 6-12 April 2022.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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