DMCC keen to enhance diamond industry

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Top officials pose for a group photo at the event.

Gulf Today, Staff Reporter

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.

Ahmed Bin Sulayem, Executive Chairman, and CEO, Dubai Multi Commodities Centre (DMCC) said: “We are proud to host AV Globale and showcase an exceptional and rare diamond such as the Scarlet Chakra in our Dubai Diamond Exchange”

“DMCC is committed to enhancing the global diamond industry, which contributed to the UAE ranking as the world’s largest rough diamond trade hub last year. Our diamond growth has continued to grow exponentially in 2022 with record-breaking diamond trade figures in the first half of the year, and it is events such as these that showcase the wonderful quality and diversity of gemstones that continue to secure Dubai’s reputation as the number one diamond hub in the world.”

The Scarlet Chakra will be offered for viewing from November in Dubai, Israel, USA, and Japan before going into online auction in December.

Ashish Vijay, Founder, and Chairman of AV Globale said: “Red Diamonds are among the most extraordinary objects on earth, representing a tiny fraction of the world’s annual diamond demand.

The Scarlet Chakra further reduces this fraction because of its round shape and cutting style. The significance goes both ways, one for the gemstone’s uniqueness and the other towards the craftsmanship for the work to achieve perfection the diamond has to offer in its natural state.

The straight fancy red with no overtones of any other color makes it overwhelmingly rare among all the red diamonds.

The origin of the scarlet chakra is as mysterious as nature’s process of the creation of these fascinating diamonds, which are formed due to the misalignments of atoms or dislocation forms of beautiful red hues.

The GIA has given an “A” symbol to the Scarlet Chakra, which signifies it is theoretically from the family of the Argyle diamonds.

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