Featuring over 3,200 lots and more than 50,000 carats of polished diamonds, the auction will take place at the Dubai Diamond Exchange (DDE) in Almas Tower. This significant auction underscores Rapaport’s expanding footprint in Dubai and highlights a growing collaboration with DMCC.
Martin Rapaport, Chairman of the Rapaport Group, expressed the company’s commitment to Dubai’s role as a key hub in the diamond trade. “We recognise the growing importance of Dubai as a primary trading centre for polished diamonds. Having sold hundreds of millions of dollars’ worth of melee since 2013, we are excited to expand our viewings of US recycled diamonds to include single stones. This presents an excellent buying opportunity for international dealers and retailers seeking competitive prices,” Rapaport said.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, added that this partnership is part of Dubai’s broader vision. “This announcement aligns with our long-term goal of establishing Dubai as the global capital for diamonds. Through partnerships like the one with Rapaport, and by constantly evolving the Dubai Diamond Exchange’s (DDE) code of conduct, we ensure the emirate remains a hub for transparent, ethical trade.”
Further solidifying its standing, the Dubai Diamond Exchange has updated its Tender Best Practice Forum’s Code of Conduct to include polished diamond tenders and auctions, reinforcing its leadership in the global diamond industry.
The auction will take place from September 22 to 25, with online bidding closing on October 1. Additional single stone auctions are planned for the months of October, November, and December, ensuring continued momentum in Dubai’s diamond trading scene.
