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Gem Auctions DMCC Makes Auction History in Dubai

120,000 carats were sold for over $57 million
dmcc dubai diamonds metals
Credit: DMCC

Gem Auctions DMCC, which held its first-ever rough diamond auction in Dubai recently, sold 120,000 carats for over $57 million, “marking the largest rough diamond auction debut by a new company in the history of the trade,” according to a press release.

 

Dubai skyline
Credit: shutterlk / shutterstock.com

 

Alan Davies, Founder of Gem Auctions DMCC, said: “We were delighted with the results of our first-ever rough diamond auction this week in Dubai. We attribute our success not only to strong market conditions, but also to our precise assortments and use of Galaxy ® ️ technology that allowed over 200 manufacturers from around the world to seamlessly inspect and bid on the material, which clearly helped optimise our pricing.”

 

Dubai
Credit: Naufal MQ

 

Gem Auctions DMCC plans on having its second sale in Dubai in early 2022.



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