Rapaport Diamond Company and DMCC (Dubai Multi Commodities Centre) – the world’s flagship free zone and Authorities of Dubai Authority on commodities commerce and enterprise – have introduced the most important polished diamond public sale in Dubai historical past by variety of tons.
Over 3,200 a number of polished diamonds will likely be provided on the market, together with 2,800 a number of single stones and 415 a number of melee. In whole, over 50,000 carats of polished diamonds will likely be provided on the market within the Rapaport public sale.
Martin Rapaport, Chairman of the Rapaport Group, stated: “The Rapaport Group acknowledges and helps the rising significance of Dubai as a major diamond buying and selling heart for polished diamonds. We’re delighted to increase our Dubai viewings of US recycled diamonds to incorporate single stones after having offered lots of of tens of millions of {dollars} of melee since 2013. Recycled diamonds from the USA provide a superb shopping for alternative for worldwide sellers and retailers who wish to supply diamonds at the very best costs.”.
Ahmed Bin Sulayem, Government Chairman and Chief Government Officer, DMCC, added: “At the moment’s announcement is simply the most recent step in our long-term technique to make Dubai the undisputed international capital for diamonds. Via collaborations with organisations such because the Rapaport Diamond Company, and by remaining agile by way of increasing the Dubai Diamond Trade’s (DDE) code of conduct, we proceed to work with market stakeholders to supply optimum circumstances for clear, moral commerce.
Prior to now few years now we have seen report progress of diamonds traded via the DDE, with USD 38.3 billion in mixed tough and polished commerce final 12 months, together with a 32% enhance in polished diamonds. We’re due to this fact delighted to welcome Rapaport to the DDE for this historic diamond public sale, the most important in Dubai’s historical past by variety of tons, as we proceed to set the benchmark for the companies and worth that diamond merchants have to develop and prosper – and finally reinforce Dubai’s standing because the world’s premier diamond commerce hub.”
In 2023, the Dubai Diamond Trade introduced the institution of the Tender Greatest Observe Discussion board (TBPF), a first-of-its-kind and bourse-led initiative that will search to advance trade greatest follow for tough diamond tenders in assist of patrons and suppliers. In recognition of the rising variety of polished diamond tenders, the DDE has lately expanded the TBPF’s Code of Conduct to incorporate polished diamond tenders and auctions, within the course of welcoming extra corporations to the TBPF.
Viewing for the Rapaport public sale will happen in DMCC’s Dubai Diamond Trade in Almas Tower from Sunday, 22 September, via Wednesday, 25 September. The public sale will likely be in a young format throughout the trade’s 41 tables, closing on 1 October. Bidding will likely be on-line, enabling worldwide patrons to supply on lots of of diamonds with GIA grading stories with detailed pictures and video scans.
Extra single stone auctions will happen in Dubai on the next dates:
- October 20-23
- November 17-20
- December 15-18
The public sale is proscribed to members of the commerce. Registration is now open at rapaportauctions/dubai-auction.
Extra data is obtainable at rapaportauctions.com. For personalised service please name +1-212-354-9100.