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Gem Auctions DMCC Debuts With Huge Rough Auction in Dubai

The sale will offer more than 100,000 carats
Dubai
Credit: Naufal MQ

The newly formed company Gem Auctions DMCC will debut in Dubai with an auction offering over $50 million of rough diamonds, IDEX Online reports.

 

dmcc dubai diamonds metals
Credit: DMCC

 

The sale, to be held at the Dubai Diamond Exchange from November 17 to November 22, will offer more than 100,000 carats.

 

Dubai Diamond Bourse Chairman
Credit: DMCC

 

In October, a 118.58-carat diamond sold for $5.21 million – $44,004 per carat – breaking a Dubai record as the most expensive rough stone ever sold there. The stone was sold as part of the Trans Atlantic Gem Sales (TAGS) October tender at the Dubai Diamond Exchange.



Tags: Diamonds News, Jewelry News, Diamond Jewelry News

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