Buyers "Highly Positive" as TAGS Sells $12.9m Specials
October 18, 24
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) and Sodiam raised $12.9m from the sale of 42 specials at their latest tender.
TAGS said the the response from buyers in Luanda, the Angolan capital, was "highly positive," despite current challenges in the global diamond market. In July it sold 45 stones, among them a 14-carat pink, for a total of $21.6m.
TAGS said it sold all but two of the 44 diamonds over 10.8 cts in an event held jointly with Sodiam E.P., Angola's state-owned diamond trading company. Two of the stones were over 175 carats, it said.
"The collaboration continues to highlight the advantages of presenting rough diamonds through a transparent tender system, which both buyers and mines appreciate for its competitive results," said Anthony Peter, TAGS founder and director.
File pic of Sodiam diamonds.