IDE to host ‘The Rough October Fest’

The Israel Diamond Exchange (IDE) has chalked out the month of October to be a time for ‘The Rough October Fest’, wherein multiple rough diamond tenders and sales events will be hosted in the Ramat Gan diamond trading complex. The events will include rough diamond tenders and auctions held by Rio Tinto, De Beers Auction Sales and Tzoffey's 1818. "We are very pleased to have at least three companies holding tenders and auctions during what we decided to call the Rough October Fest," IDE Vice President Arnon Juwal, who heads the event's organizing committee, says. "Of course, we look forward to other major producers joining us with more tenders during the month!"

Also, 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, right along many dozens more IDE members offering impressive stocks of polished goods.

The Rough October Fest will kick off with Rio Tinto holding its tender in the IDE rough diamond trading hall, October 11-15. The tender will offer 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.

Tzoffeys' tender will follow from October 18-26; 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 notes. Between October 25 and 27, De Beers Auction Sales will be holding a tender for 5+ carat and 10+ carat goods.

"This initiative is yet another building stone in the strengthening of our manufacturing base for larger stones in Israel," IDE President Shmuel Schnitzer stated. "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!"