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