The Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre (DMCC) and a leading global diamond trading platform, recently hosted the first polished diamond auction of its type in the region.

The event was held at the iconic Almas Tower and organised by Diasqua DMCC (Diasqua), a diamond trading company specialising in polished diamonds and a registered member of the DDE.

The event, which attracted over 130 attendees from 60 diamond-registered companies, sold over $7.2 million in polished diamonds at auction.

The auction was exclusively for polished diamonds of various sizes and qualities with the largest diamond being 21 carats in weight. In total, 34,000 carats of diamonds were sold on the day.

Diamond dealers, suppliers and manufacturers from countries such as India, Belgium, Hong Kong, Japan and Thailand took part in the event.

DDE has played a significant role in facilitating diamond trade through Dubai, with total diamond trade volumes increasing to $16.3 billion in the first half of 2010, up from $7.6 billion in the first half of 2009, a statement said. – TradeArabia News Service