Dubai Multi Commodities Centre (DMCC), the world’s flagship Free Zone and centre of global commodities trading presented the unveiling of one of the world’s rarest pink diamonds, the ‘Williamson Pink Star’ at DDE. The 11.15 carat flawless pink diamond would embark on a world tour travelling across Dubai, Singapore, Taipei, and Hong Kong, where it will be auctioned on October 5, 2022. It would also be livestreamed for absent bidders on the Sotheby’s website and social networks.
The Williamson Pink Star diamond has the potential to set a new price per carat record and the highly anticipated collection is set to fetch over USD 21 million for its astonishing purity.
The Dubai Diamond Exchange (DDE) is a distinctive platform that extends access to a trusted framework for all properties of diamond trade. Situated in the iconic Almas Tower, DDE is the first and only trading exchange for diamonds and coloured precious stones in the Gulf Cooperation Council (GCC), and home to some of the most prominent jewellery manufacturers, retailers, and traders.
DMCC is the dedicated global facility for over 21,000 businesses from a wide range of industries and sectors, as varied as agro, energy and financial service industries to diamonds, gold, and base metals.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said from UAE being the world’s largest rough diamond trade hub to posting record-breaking diamond trade figures for the first half of the year, 2022 has been a monumental year for Dubai’s diamond narrative.
Sotheby’s hosting the first launch of such an exceptional pink diamond at the Dubai Diamond Exchange which is yet another demonstration of Dubai’s significant role in the global diamond industry.
Wenhao Yu, Chairman of Jewellery and Watches at Sotheby’s Asia, added that the discovery of a gem-quality pink diamond of any size is an exceptionally rare event. Prices for the supreme large pink diamonds over 5 carats have increased exponentially over the past decade powered by limited supply and rising demand.
DMCC continues to enrich Dubai’s position as the leading hub for the global diamond trade
DMCC has been a driving force in establishing the emirate as a leading global hub for the diamond trade, in line with its mandate to attract, facilitate and drive new trade flows through Dubai. The DDE is the largest diamond tender facility in the world and home to over 1,150 diamond firms, offering members and industry experts with state-of-the-art facilities, infrastructure, products, and services to grow and trade with trust and confidence.
Dubai is positioned at the crossroads of the global diamond trade, with direct flights leading to the diamond hubs in Israel, Angola, South Africa, Belgium including Surat and Mumbai in India. Dubai has become a leading hub for the trade of rough and polished diamonds by way of DMCC’s continued work in the sector. In the first half of 2022, the UAE noted USD 19.8 billion in total diamond trade after a record 25% year-on-year (YoY) growth.