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  • (Photo courtesy: DMCC)

Gem Auctions DMCC’s Debut Auction Successful

Gem Auctions DMCC sold 120,000 carats for over USD $57 million in its first rough diamond auction held from 17-22 November 2021 at the Dubai Diamond Exchange. It’s considered the largest rough diamond auction debut by a new company in the history of the trade.

Founder of Gem Auctions DMCC, Alan Davies was delighted with the results. He attributed the success to favourable market conditions, as well as precise assortments and use of Galaxy ®️ technology to facilitate inspection and bidding on the material by more than 200 international manufacturers that helped optimise the pricing. Ahmed Bin Sulayem, Chairman of Dubai Diamond Exchange, said they strive to promote the global diamond trade and make the Emirate to be the top diamond trading hub, therefore it has become regular to host large tenders at the Dubai Diamond Exchange. 





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