Glittery Auction Opens Dubai Luxury Show

High-end exhibitors at the show included Harry Winston, Dhamani, watch maker Krieger, Daniel K and local retailer Damas, the last with a noticeably large presence. The first day opened in the afternoon with entrance limited to a short list of invitees. The result was a very quiet hall with visitors getting plenty of attention from the sales reps.

The highlight of the event was the auction of the diamond outfit, Gianfranco Ferre’s last creation before his death, which opened after Sheikh Makhtoum’s arrival and a short dance performance by a troupe that included a model wearing the fashion creation.

The auction is a close bid with a reserve price of $650,000 for the outfit, which is set with 905 G-H/ VS-SI1 diamonds with a total weight of 264 carats

According to a local high-end jeweler, the outfit could easily fetch $2 million, if not more. “This is an item for a private moment between a husband and a wife,” he told IDEX Online. According to Kobi Itzchaki of the Dalumi Group, the ensemble is unique because it is a one-off item, not even a limited edition. Moreover, because it is the designer’s last creation, its value will likely appreciate, making it a collection item.

The auction will conclude Friday afternoon, and the results will be announced shortly thereafter.

Across the passage way, traffic picked up at the two other shows, Jewellery Collection Dubai and Jewellery Trade Dubai, with a greater number of attendees showing up.