Trans-Atlantic Gem Sales Holds First Tender of 2019, Sales Top $50M

Rough Market
28/02/2019 11:58

Trans-Atlantic Gem Sales (TAGS) held their first tender of 2019 this month from 12 - 19 February in Dubai, selling a record $50.1 million worth of rough diamonds, as per a press note from the company. The sale featured a total of 79,213 carats of high-quality stones, included exceptional, special rough diamond collections with large and single stones from Angola, Namibia and South Africa. TAGS said the tender achieved an average price of $633 per carat.

“TAGS has seen steady growth in both volume and value terms" according to a company spokesperson. "Many returning customers reported positive results from manufacturing previous purchases." Over 194 clients attended the February tender, the first of eight scheduled for 2019, with the next one taking place 26 March - 2 April. TAGS organizes rough diamond auctions and tenders on behalf of diamond producers, miners and suppliers, with operations carried in Antwerp, Cape Town and Dubai.