TAGS held first tender since Pandemic

 

Rough diamond tender held in Dubai 

Trans-Atlantic Gem Sales (TAGS) DMCC recently held a rough diamond tender in Dubai from the 24th to the 31st August 2020. TAGS said, “After a difficult six months for everyone, both on a personal and professional level, we were delighted to welcome back our valued customers to Dubai between the 24th and 31st August 2020.” 

This was the first tender to be held in the DDE, Almas Tower since the commencement of the pandemic and the working environment within the facility had been fully modified and equipped to ensure the safety of all participants during the event. “We presented our regular productions from South Africa, Angola and Namibia with a total value of approximately US$30 to 35m” said TAGS. 

Despite the increased procedures required for travelling, we were pleased to welcome nearly 100 companies to Dubai to view the productions. “We are happy to report that we secured sales totalling approximately 90% by value of goods offered” TAGS adds.

To facilitate the organisation of travel arrangements from India, we extended the event for an additional three days, which was greatly appreciated by customers who needed to arrange the necessary tests/visa to travel. 

While manufacturing has by no means returned to normal levels, careful stock management and an improvement in polished sales resulted in a solid demand for rough. 

Many companies brought their planners from the factories to maximise evaluation and fulfill specific factory requirements. 

Manufacturers stated that while the forthcoming season is going to require the procurement of additional rough through to Diwali, their estimates are that sales could be as much as 30% less than last year. They welcome the flexibility that the TAGS marketing model presents, allowing them to purchase the specific ranges they require at a volume of financial commitment that reflects their current position. 

During the event we received many new company registration requests for the TAGS platform for forthcoming events, interestingly several were from Israeli based companies who are keen to begin travelling to Dubai now the agreement between Israel and the UAE has been ratified.