From Sunday the 22.5.2016 and till Thursday the 26.5.2016, the international rough diamond week shall take place in the rough diamond trading hall of the Israel Diamond Exchange.
The International Rough Diamond Week in Israel 22-26/5/2016
Israel is amongst the leading players in the world in the manufacture and export of diamonds. More than a hundred Israeli companies and diamond manufacturers from around the world shall participate in the international rough diamond week that will take place here.
The Israel Diamond Exchange shall provide to the Israeli manufacturers an unprecedented amount of rough diamonds. That is the reason why the Diamond Exchange invited the leading suppliers of rough diamonds, the mining companies and companies that specify in tenders and in auctions, to come to Israel for the purpose of allowing the Israeli companies a direct access to a huge variety of merchandise. The market’s response shall be excellent.
We consistently manufacture here large diamonds, especially diamonds that weigh 2 carats or more, and the Israeli manufacturers are leading the world in these categories.
This event also helps the small manufacturers that do not have the means to fly abroad and buy rough diamonds.
By bringing the rough diamonds here we save them a lot of time and other expenses such as plane flights and hotels.
In order to maximize their profits, the producers of the rough diamonds switched from selling packages of rough diamonds directly to the manufacturers to a method of tenders in which the rough diamonds are presented as sort out packages or as singular stones without a price.
The customers are requested to examine the merchandise and offer the price according to which they are willing to purchase the diamonds in the course of a written and signed obligation. When the tender ends, the representatives of the producers of the rough diamonds examine the different offers regarding each package or each stone, and the highest offers are the ones that win.
This week, three international players in the rough diamond industry are coming to Israel: DE Beers, Rio Tinto and Alrosa. Also, an auction house called Tzoffeys shall participate in this week, and it shall auction large and special rough diamonds that are of different colors.
The Sales Company of Des Beers (formerly Diamdel)
The sales company of De Beers (De Beers Auction Sales) that till 2012 was called Diamdel is a company fully owned by De Beers that sells and markets rough diamonds. The company was established in Antwerp in 1964, and it has offices in Ramat-Gan, Hong Kong. Dubai and a corporate presence in London.
In January 2008, the company broke from the traditional direct sales that were customary in the company from its establishment, and it entered the field of auctions.
The tender allows the participant to submit only one bid without the possibility of receiving additional information as to the negotiation, and without the possibility of continuing and presenting additional offers at another price.
The Company Rio Tinto
The company Rio Tinto Diamonds- RTD is the owners of the Australian Argyle mine (100%), of the Canadian Diavik mine (60%) and of the Zimbabwean Murowa mine (78%).
The company sorts the production of the rough diamonds from these mines, and it prepares them for a sale in its main offices in Antwerp, Belgium.
Rio Tinto markets most of the production of its diamonds to clients that get the distribution of rough diamonds (core sales) ten times per year. The company also markets portions of certain merchandises via auctions.
Alrosa
Alrosa- that is the world’s second largest producer of rough diamonds- is conducting auctions in Israel since 2012. Due to the success, in 2013, it increased the number of its auctions to four.
The auctions take place via Alrosa’s dealership in Israel –Arcos, and they are held in the company’s offices.
Alrosa presents merchandise for auctions in a number of the prominent diamond centers throughout the world: Moscow, New York, Hong Kong, Antwerp and Ramat Gan.
The merchandise that is offered in Israel is composed from large merchandises, 5 carats and more, and from specials – that are stones of 10 carats and more.
Tzoffey’s
Tzoffey’s 1818 is a privately owned auction house specializing in diamonds and precious stones rough and polished
Tzoffey’s 1818 conduct tenders on behalf of the mine – cataloguing, sorting and pricing
Tzoffey’s 1818 President – Mr. Avner Sofiov, in the diamond and precious stones industry since 1978
The tender shall include this time rough diamonds between 5 to 10 carats, large stones that are above 10 carats and specials in different colors.
I am sure that this will be a successful week that will march the Israel Diamond Exchange a huge step forward in the export of polished diamonds around the world.