Auction brings successful US/ International Diamond Week to a close

Auction brings successful US/ International Diamond Week to a close

21.03.2013: The closing day of the March-17-20 US/International Diamond Week at

The closing day of the March-17-20 US/International Diamond Week at the Israel Diamond Exchange (IDE) ended with an exceptionally well-attended auction of spectacular white and colored diamonds and gemstone jewelry by Tzoffey's 1818. Reportedly, more than 30 lots were sold.

photo caption: An oval cut fancy color diamond weighing 11.56 cts., set with two taper baguette side stones,  set in white gold was one of the items sold at auction during the US / International Diamond Week in Israel.

IDE President Yair Sahar paid tribute to Tzoffey's 1818 owner Avner Sofiov putting together the idea of the auction, creating the lots of diamonds and gemstones, and making it a reality in less than two months. "To be able to make something like this take place in two months is exceptional," Sahar said.

He added that 1 percent of the proceeds from the auction would be donated to the IDE's Friends for Friends organization to help people in need. IDE Vice President Ilan Samuel bought a heart-shaped brown diamond weighing 1.96 carats and then put the diamond back into the auction and donated the money from the sale to Friends for Friends.

Among the highlights of the auction, which included more than 30 lots, was a 1.27-carat fancy intense purple pink cushion cut GIA certified diamond of SI1 clarity that sold for US$242,000.

Among the other items was a platinum ring set with a 10.19-carat cushion-cut diamond pave set with brilliant-cut diamonds, a man's ring set with a cabochon sapphire weighing 7.83 carats and mounted in yellow gold and signed by French designer Reza, and an outstanding oval-cut fancy color diamond weighing 11.56 carats set in white gold.

In addition, there was an emerald and diamond ring, with the square-cut emerald weighing 13.91 carats and set among 3.02 carats of pear-shaped diamonds in white gold, as well as a cushion-cut ruby weighing 6.22 carats set in white gold and with white pave-set diamonds on either side, and many other outstanding jewelry items.

Before the auction, diamantaires from Israel and overseas were given a presentation by renowned diamond industry analyst Chaim Even-Zohar, President of Tacy Ltd., on the issue of the global diamond market.

Even-Zohar, who publishes an annual diamond pipeline chart showing the production of rough goods from diamond-producing nations and the value of the diamonds and how much is added at each stage through manufacturing and sales to the consumer, said he did not expect rough prices in 2013 and 2014 to rise "meaningfully," and added that prices would continue to be volatile.

He said that annual rough sales globally were $15 billion, while polished sales were $22 billion, meaning manufacturers added value is just $7 billion. "Manufacturers are the suckers between the mining firms and jewelers." Although manufacturers lost money in 2011 and 2012, their financial situation has never been better. As a result of the financial crisis they had injected equity into their companies, and borrowing had fallen, Even Zohar noted.

However, it is imperative that banks provide credit to the diamond industry as that is the only way to survive and expand. "The business cannot grow without credit."

Even-Zohar also spoke about the danger to the industry posed by synthetic stones, saying that of the $22 billion of polished goods last year at least $500 million were synthetics. Manufacturing of synthetics has ramped up considerably with manufacturers installing hundreds of machines.

"In addition, there is a perfect system where synthetic stones are made by Chemical Vapor Deposition (CVD) and then improved using the High Pressure-High Temperature (HPHT) system."

Even-Zohar also spoke about the danger to the industry of recycled diamonds and stones being sold to the ever-expanding pawn business in the United States which he estimated to have an annual value of $1.2 billion. "There are enough diamonds held by households for the next 40-50 years if they were to all go back into the market. Those are the kinds of volumes we are talking about," he said.


Participating companies *:

Rami Birenbaum ● Amtalai Diamonds ● Lior Martin Ltd. ● Petka Ben Yehuda ● Rafael Vardi ● Y.L Golan Diamonds Ltd. ● David Vardi ● Dov Diamonds ● David Levy Diamonds ● My Class Diamonds ● Avnit Diamonds ● Moshe Barzilai 2000 ● Ovadia Diamonds ● Paloma Diamonds ● Eliaz Diamonds ● Eitan Grosman ● Dov Schlafrok ● S. Juwal and Co. ● A.R.D ● Selection Diamond ● Moti Kashi ● Dalior Diamonds ● Beta Diamonds Ltd ● Asherian Diamonds Ltd. ● Dor Diamonds ● Moshe Levy ● Diamond Boutique ● EFD ● Reuven Davidov Diamonds ● Nof Ofer Diamonds Ltd ● Rony Duek Diamonds Ltd. ● Shirtal ● Belisdiam ● E.Shiri Diamonds 2001 Ltd ● S.A Diamonds ● A.G. Yakobov ● Moti Cahana Diamonds ● Kesy Diamonds ● Lugano Diamonds ● Regent Diamonds Ltd. ● UNA Diamonds Ltd. ● MRD Diamonds Ltd. ● Boris Davidov ● Pinchasi Diamonds ● Amiram Gertler Diamonds ● Aharoni Diamonds ● B.M Diamonds 2007 Ltd. ● Sahar Atid ● A. Dalumi ● Y Dvash ● I.J Diamonds Ltd. ● Pini Yakobi ● Banis Diamonds ● TBC ● ESY Diamonds Ltd. ● AX Exchange ● D.M.G International Ltd. ● Eyal Badichi Diamonds Ltd.. ● Alon Avinoam Diamonds Ltd. ● Penta Diamonds ● Majestic ● Israel Itzak Diamond Manufacturing ● Ben Yamin Diamonds ● DDS Ltd. ● D.B.O ● Yakobov & Son ● Leo Schachter Diamonds Ltd. ● Mr. Diamond ● Mordechai Turgeman ● Nisay Diamonds Ltd. ● Ben Yona Diamonds Ltd. ● Jacob Babayev ● Yoshe Diamonds International Ltd ● Firestone Diamond Ltd. ● Josef Frei Ltd. ● MID House of Diamonds Ltd. ● Andre Messika ● Rosy Blue Sales ● Royal Gem (Israel) Ltd. ● Eshed -Diam. Ltd. ● Fabian Holtzman Diamonds Ltd. ● Kuperman Bros. ● Sienna Diamonds Ltd. ● O.T.D Diamonds Ltd ● Eli Melamed Diamonds ● EDAH Diamonds Ltd. ● Kessel Diamonds Ltd. ● Leibish & Co. Ltd. ● Briza Lior Ltd. ● Tuvia Yakarngi ● Oren Zofiof ● Joe Brima Ltd. ● SHA Diamonds Ltd. ● Luz Diamonds Ltd. ● Alex Daniel Diamonds ● Aharon Shakaroff ● Melees by size ● DDS Ltd. ● Aharonoff Creations ● Goa Diamonds ● Royal T Diamonds Ltd. ● Victory Diamonds ● Sorum ● A.B.T ● Eurostone ● Lustig Brothers ● Briza B. Shine (2003) Ltd. ● Treasure Diamonds ● Lustig Brothers Ltd. ●  Eliyahu Bashari ● Z.Y. Bernstein Ltd ● Shaul Ichak Diamond Mnfc.● 4C's Ltd. ● Shmuel Porti ● Moshe Namdar - Masingita ● Elul Diamonds Ltd. ● Arie Pienica Diamonds Ltd .● Source Diamonds Ltd.● Windiam Israel Ltd. ● Premier Gem Corp. ● AV Milestone ● Eliezer Broide ● EMA Diamonds ● Yahalomei Thelet ● Emma Janover Diamonds Ltd. ● Haba Diamonds ● Dream Diamonds ● Beldiam Diamonds 1982 Ltd. ●Lior Gross ● D&D Sales Diamonds ● Wertheimer & Fruchter ● Shanel ● Eyal Sasson ● Ideal Diamonds LTd. ● NFC Diamionds ● Ajami Diamonds ● Jacob Mermelstein ● ATS Diamonds 2008 ● GIB Diamonds ● Bereshit Diamonds ● Seren Diamonds ● Udi Limor ● RDS ● Dvorah Nissim ● S. Ronen Diamonds ● Yoni Salton ● Yossi Yerushalmi ● Avi Yarkoni ● Benma Diamonds ● Vulcan & Co. Diamonds ● M. Mattis @ Co. ● Yona Lev ● Ben Yamin Cohen ● Diamonds & Jewelry Ltd. ● ELD Diamonds ● DTCI (Israel) Ltd. ● Rotem Diamonds ● Dayagi Abraham Diamonds Ltd. ● Gemhouse International ● Adicom Diamonds ●Yerushalmi Bros. ● Idan Diamonds ● Niru Diamonds Israel (1987) Ltd. ● Stuller Diamonds International ● DiamondFloor ● A. Schwartz & Sons Diamonds Ltd. ● E.Z. Diamonds Ltd. ● Nesher Diamonds
* List is not complete

- Almor Ya'akov - photo IDE


21.03.2013 / MaP

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