TAGS Dubai recorded a significant improvement in viewing activity and a slight recovery in sales prices across a wide range of diamonds at its recent tender in February.
The company presented a range of high quality Southern African diamonds, primarily in the +3gr sizes, which included many +10.8ct stones. The overall value of the tender amounted to about $30 million, of which 80% were sold to 50 international manufacturing companies.
Around 150 companies from all the manufacturing centres took part in the sale. According to TAGS, this indicates a growing appetite from manufacturers, who are slowly building up manufacturing capacity and looking to replenish gaps in stock. Interest was particularly focussed on better qualities, from 2ct and up.
"Overall, the general feeling is that demand in 2024 will still be very much contingent on geopolitical events such as conflicts, that mighty significantly shape the global business landscape," the company said in a statement.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
