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Dubai to Host Largest Polished Diamond Auction in History

  • Publish date: Friday، 20 September 2024 Last update: Tuesday، 10 December 2024
Dubai to Host Largest Polished Diamond Auction in History

The Rapaport Diamond Corporation, in partnership with the Dubai Multi Commodities Centre (DMCC), has announced the largest polished diamond auction in Dubai’s history, featuring more than 3,200 lots. This exciting event will include 2,800 single stones and 415 melee lots, totaling over 50,000 carats of polished diamonds.

Dubai's Growing Diamond Market

Martin Rapaport, Chairman of the Rapaport Group, emphasized Dubai's rising importance as a key diamond trading center. He expressed enthusiasm for showcasing U.S. recycled diamonds, providing international dealers with excellent purchasing options at competitive prices.

Strategic Growth for DMCC

Ahmed Bin Sulayem, Executive Chairman of DMCC, noted that this auction is a significant part of their strategy to position Dubai as the global capital for diamonds. With $38.3 billion in diamond trades last year, including a 32% rise in polished diamonds, the DMCC aims to create optimal conditions for transparent and ethical trading.

Dubai to Host Largest Polished Diamond Auction in History

Auction Details

The viewing for the auction will take place at DMCC’s Dubai Diamond Exchange in Almas Tower from September 22 to September 25. The auction will use a tender format across 41 tables, closing on October 1. Bidding will be conducted online, allowing international buyers to participate and review detailed GIA grading reports along with images and video scans of the diamonds.

Dubai to Host Largest Polished Diamond Auction in History

Upcoming Auctions

In addition to this major auction, there will be single stone auctions in Dubai on October 20-23, November 17-20, and December 15-18. Please note that the auction is limited to trade members only.

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