DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – today hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the “Williamson Pink Star” – at the Dubai Diamond Exchange (DDE).
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. Expected to fetch over USD 21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its incredible purity.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “From announcing the UAE as 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 story. Sotheby’s hosting the first unveiling of such an exceptional pink diamond at the Dubai Diamond Exchange 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: “The discovery of a gem-quality pink diamond of any size is an extremely rare occurrence. Driven by a limited supply and rising demand, prices for top-quality large pink diamonds over 5 carats have increased exponentially over the past decade, serendipitously setting the scene for the appearance now of this one-of-a-kind stone.”
In line with its mandate to attract, facilitate and drive new trade flows through Dubai, DMCC has been a driving force in establishing the emirate as a leading global hub for the diamond trade. The DDE is the largest diamond tender facility in the world and home to over 1,150 diamond companies, providing members and industry professionals with state-of-the-art infrastructure, facilities, products, and services to grow and trade with confidence.
Dubai sits at the crossroads of the global diamond trade, with direct flights to the leading diamond hubs including Surat and Mumbai in India, Israel, Angola, South Africa, and Belgium. Through DMCC’s continued work in the sector, Dubai has become a leading hub for the trade of rough and polished diamonds. In the first half of 2022, the UAE recorded USD 19.8 billion in total diamond trade after a record 25% year-on-year growth.