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Trans Atlantic Brings In $35M at Dubai Tender

Sale features high-quality rough from South Africa and Angola.
Jul 9, 2018 9:40 AM   By Rapaport News
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RAPAPORT... Trans Atlantic Gem Sales (TAGS) garnered $35 million from a tender of rough diamonds in Dubai in June, it said Monday.

The company sold 27,161 carats of high-quality stones sourced from mines in South Africa and Angola. The diamonds fetched an average price of $1,288 per carat during the event at the Almas Tower.

Some 126 companies attended the sale, the seventh the company has held this year. It plans to hold two more tenders in 2018.

“We continue to get increasing registrations and participation in our tenders as we are showing regular and consistent productions,” a company spokesperson said.

TAGS facilitates rough auctions and tenders on behalf of diamond producers, operating out of sales offices in Antwerp, Cape Town and Dubai.

Image: Trans Atlantic Gem Sales
Tags: Almas Tower, Angola, Antwerp, Cape Town, Dubai, Rapaport News, Rough Diamonds, South Africa, TAGS, tender, Trans Atlantic, Trans Atlantic Gem Sales
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