DMCC’s DDE & Sotheby’s unveil 2 most valuable gemstones

DMCC’s DDE & Sotheby’s unveil 2 most valuable gemstones

Dubai Multi Commodities Centre (DMCC), the flagship free zone and Government of Dubai Authority on commodities trade and enterprise, has hosted the unveiling of two extraordinary gemstones at its Dubai Diamond Exchange (DDE).

The gems were unveiled by Sotheby’s and will be available at auction in New York on 8 June. The first gemstone was the Estrela de FURA, a 55.22-carat stone that, due to being the largest and most valuable ruby to ever appear at auction, is expected to command in excess of $30 million. DMCC’s DDE hosted the unveiling of the rough Estrela de FURA stone in September 2022.

The second one was the Eternal Pink, the most vivid pink diamond to come to market, estimated to fetch in excess of $35 million.

The UAE witnessed a strong 17 percent year-on-year increase in the value of diamonds traded in 2022, totaling $37.4 billion combined for rough and polished diamonds. This was driven by a 42 percent rise in the polished category and maintaining a solid growth trajectory through a 7 percent rise in rough.

Building upon its status as a leading global hub for the trade of rough and polished diamonds, Dubai is now looking to add further value to the colored