Middle East’s first polished diamond auction gets underway

The attendance and revenue generation at Middle East’s first polished diamond auction underlined its significance as a debut event. Spanning 18th-20th January 2011, the auction offered polished diamonds of various sizes and qualities, the largest diamond being a 21 carat stone. The auction saw 34,000 carats of diamonds going under the hammer, generating over $7.2 million in value.

The auction was organised by diamond trading company Diasqua DMCC at the Almas Tower, and hosted by Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre. Over 130 attendees from 60 diamond-registered companies participated, representing diamond dealers, suppliers and manufacturers.