TAGS: "Return to Near Normal Trading"
July 30, 26
(IDEX Online) - Prices at a sale of rough specials (+10.8 carats) exceeded mines' expectations, said Trans Atlantic Gems Sales (TAGS) as demand grows for high-value goods.
The Dubai-based tender house said it achieved a 95% sell-through rate in Luanda, with a total revenue of $21.7 million.
The sale, in June, was in partnership with Sodiam, Angola's state-owned national diamond trading company.
"These results further demonstrate the strength of global demand for high-value, larger rough diamonds," TAGS said in an update.
In its Market Overview, the company said that despite market uncertainties and geopolitical unrest, buyers appear to have adapted to the changes, and it referenced a "return to a near normal trading situation".
Tenders of South African production, held in Johannesburg in June and July, sold around 75% of lots offered, the company said.
At its most recent sale, held in Dubai, over 80% of goods presented (many over 10-cts) sold for $15.2 million.
File pic courtesy TAGS.