Trans Atlantic Gem Sales (TAGS) raised $ 5.2 million from the sale of a 118.58-carat diamond in Dubai, setting a local record. The price was the highest for any rough stone traded on the Dubai Diamond Exchange (DDE) tender. The price for the diamond was $ 44,004 per carat.
The tender, which ran from 6 to 12 October, included a range of goods from mines in southern Africa. A total of 22,000 carats were offered for a total value of $ 40 million.