AV Globale, a business organisation that focuses on auctions and tenders, recently showcases the exceptionally unique fancy red round brilliant-cut diamond called the ‘Scarlet Chakra’ by GIA, at Dubai Diamond Exchange in Dubai.
The 228.31-carat pear-shaped gem, which was mined and polished in South Africa more than 20 years ago, is the largest white diamond ever to come to auction, said auction house Christie's.
An Asian foreman, 28, seized the chance of supervising a group of workers installing solar panels to enter a villa and steal two diamond rings.
Described as "completely flawless" by auctioneer Sotheby's, the 102.39-carat stone went to an unnamed telephone bidder for HK$122 million in an auction held online because of the coronavirus pandemic.
Dubai non-oil trade continued its growth against the current crisis. Being a hub for gold and diamond trading and making, Dubai made Dhs67.1 billion from gold and diamond air-cargo trade between March and the end of June 2020.
The industry was hit twice because of the coronavirus, with export orders evaporating and then a shortage of workers caused by a national lockdown to stop the spread of the virus.
Global diamond supply chains convulsed by the coronavirus pandemic and most workers in India’s diamond industry switched to other jobs. Miners seek new supply deals to boost margins and mines from Canada to Lesotho are still shuttered.
The trade of precious metals and stones is a key pillar of the UAE’s economic diversification plan. In Dubai, the highest traded commodities by value in 2019 were gold, jewellery and diamonds, which contributed AED 370 billion, a 7 percent growth from 2018.
The 11.15 carat flawless pink diamond started its roadshow in Dubai, one of the world’s leading diamond trade hubs, and will travel to Singapore and Taipei, before being offered by Sotheby’s at a single-lot auction in Hong Kong in October.