Israel Diamond Exchange Preparing For First 'Rough October Fest'

The Israel Diamond Exchange (IDE) will be hosting a number of rough diamond tenders and sales during October in the Ramat Gan diamond trading complex.

In addition to rough diamond tenders and auctions held by Rio Tinto, De Beers Auction Sales and Tzoffey's 1818, a 'Blue-White' Diamond Dealing Day will be held in the IDE trading hall, with dozens of traders offering rough diamonds for inspection and immediate sale, alongside many other IDE members offering impressive stocks of polished goods. Dates for this one-day event are to follow later.

"We are very pleased to have at least three companies holding tenders and auctions during what we decided to call the Rough October Fest," said IDE Vice President Arnon Juwal, who heads the event's organizing committee.

"Of course, we look forward to other major producers joining us with more tenders during the month."

The Rough October Fest will kick off with Rio Tinto holding its tender in the IDE rough diamond trading hall from October 11 to 15. The firm's tender is composed of large (+10.8ct) and fancy colored rough diamonds.

By means of a sealed-bid auction system, registered and confirmed customers can bid on high-value large single stones, parcels and natural colored rough diamonds comprising a diverse range of sizes, shapes and qualities in a variety of colors, including pinks and fancy yellows. For more information and registration, contact Hélène Wendelen at +3233036868 or helene.wendelen@riotinto.com

Tzoffeys' tender, from October 18 to 26, will be an all-African tender of 5-10 carat goods as well as specials - 10.5+ stones.

"We're seeing a growing demand in the manufacturing sector for 5-10 carat stones that yield polished stones in the 2-5 carat category," Tzoffeys CEO Avner Sofiov noted.

Meanwhile, De Beers Auction Sales will be holding a tender for 5+ carat and 10+ carat goods from October 25 to 27.

"This initiative is yet another building stone in the strengthening of our manufacturing base for larger stones in Israel," said IDE President Shmuel Schnitzer. "We need more manufacturing of large goods as it is our specialty and we are at the top of the bill when it comes to producing fancy shapes and fancy colors. We hope to continue and bring more rough to Israel for this purpose."