By Andrei Skvarsky.
The Dubai Diamond Exchange (DDE) was the venue for the recent unveiling by Sotheby’s of what are considered the largest ruby and the most vivid pink diamond in world auction history and are expected to be offered at a planned Sotheby’s auction in New York on June 8.
The 55.22-carat (11.04-gram) Estrela de Fura ruby is estimated to be worth more than $30m. The 10.57-carat (2.11-gram) Eternal Pink diamond is expected to go for about $35m.
The unveiling of the gems was co-hosted by Dubai Multi Commodities Centre (DMCC), one of the principal free-trade zones in the United Arab Emirates, DMCC said in a statement.
Diamond trade in the UAE showed a year-on-year increase of 17 per cent in 2022 with the combined value of rough and polished diamonds that were traded that year reaching $37.4bn. Polished diamond trade had gone up by 42 per cent and rough diamond trade by 7 per cent in 2022.
Dubai is seeking to boost coloured gemstone trade. Recently the DDE hosted tendering processes for coloured gem companies such as Bonas Group, Fura Gems and Grizzly Mining, the DMCC statement said.
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