Large Stones Drive $16M TAGS Dubai Tender During Feb 16-20 Viewings

Trans Atlantic Gem Sales (TAGS) recorded more than US$16 million in sales at its Dubai tender, with roughly 60% of the goods offered selling during viewings held Feb. 16 to 20. The company reported the sale took place from February 16 to 20 in Dubai and said the result reflected a concentrated appetite for larger rough material.

More than 100 companies attended the event in Dubai, and 46 placed winning bids, underlining a competitive buying room even as nearly 40% of lots remained unsold. TAGS supplied the attendance and bid figures alongside its sales total as it closed the tender period.

Product mix at the tender spanned a broad spectrum of sizes and qualities; TAGS said the sale "featured a 'full range' of size categories and qualities, with an emphasis on rough above 5 carats." That emphasis on stones above 5 carats was cited as the strongest point of demand through the Feb. 16 to 20 viewings.

Operational disruptions altered TAGS's March schedule. A South African-production tender originally planned for March 1 to 6 in Dubai was rescheduled to March 9 to 11 due to the Iran conflict and the cancellation of flights in the United Arab Emirates. Separately, a sale of output from the Zimbabwe Consolidated Diamond Company (ZCDC) will run from March 8 to 12 in Dubai, creating back-to-back selling weeks for rough supply in the market.

An image accompanying the sale coverage was captioned "Rough diamonds for tender. (Trans Atlantic Gem Sales)." Rapaport supplied the market report and notes that it operates services including RapNet, the Rapaport Price List and Rapaport Auctions as part of an international network supporting transparent diamond and jewelry markets.

The Feb. 16 to 20 tender delivered a clear signal: buyers prioritized larger stones, with TAGS reporting the highest pull for material above 5 carats and more than US$16 million changing hands. The rescheduled March 9 to 11 South African tender and the March 8 to 12 ZCDC sale will test whether that demand for larger rough holds as travel and logistics continue to affect Dubai sales.