Trans Atlantic Grosses $50M in Dubai Tender

RAPAPORT... Trans Atlantic Gem Sales (TAGS) sold a record $50.1 millionworth of rough diamonds at a tender in Dubai earlier this month, it saidMonday. A total of 79,213 carats of high-quality stones from minesin South Africa, Angola and Namibia yielded an average price of $633 per carat.The sale included a number of large, single stones and exceptional specials,the company said. "TAGS has seen steady growth in both [volume] and valueterms," a company spokesperson noted. "Many returning customers reportedpositive results from manufacturing previous purchases." Some 194 clients attended the sale, the company's first ofthe year. It will hold another seven tenders in 2019. TAGS facilitates rough auctions and tenders on behalf ofdiamond producers, with operations in Antwerp, Cape Town and Dubai. Image: Rough diamonds. (Trans Atlantic Gem Sales)