Rare, natural blue diamond to be auctioned during Israel's Int'l Diamond Week

Rare, natural blue diamond to be auctioned by Tzoffey's 1818

during U.S. / International Diamond Week in Israel

A natural vivid blue unique heart shape diamond, weighing 1.93 carat, is one of the show pieces at the auction of exclusive gems and jewelry organized by Tzoffey's 1818 to be held during the inaugural US/International Diamond Week at the Israel Diamond Exchange (IDE), March 17-20. When sold, the stone may fetch more than a million dollars per carat.

"Natural blue diamonds are without doubt the most rare and therefore most expensive category among natural color diamonds," said Avner Sofiov, owner of the French-Israeli auction house Tzoffey's. He recalled that the last two blue diamonds that were sold at auction by Sotheby's fetched extraordinary prices. "In May 2012, a marquise-shaped blue diamond of 2.07 carat was sold for $1.85 milllion, and in November a briolet-cut stone of 10.48 carat sold for more than $1 million per carat. The quality of this 1.93 heart shape is higher than the stones sold by Sotheby's and I am very curious how much this stone will fetch!" he added.

The blue diamond, together with hundreds of other, high-quality gemstones and jewelry pieces, can be viewed in a special viewing area adjacent to the trading hall of the Israel Diamond Exchange, from March 17 to 20. Bids are to be submitted in closed envelopes. The exact time of the auction's conclusion and its results will be announced shortly.

In addition to the Tzoffey's auction, I Hennig/ Fusion Alternatives, and the Rapaport Company will hold two auctions of polished diamonds. These polished auctions are being held in addition to rough diamond tenders organized by I Hennig/Fusion Alternatives and Ediamond.

Buyers will be offered four free hotel nights at the Leonardo Hotel, located opposite the Ramat Gan diamond exchange complex. The complimentary hotel accommodation is being provided courtesy of the Israel Diamond Institute (IDI). Please click here to register for the event.

ISRAEL'S 2012 POLISHED DIAMOND EXPORTS: $5.6 BILLION

While the global diamond industry experienced major declines during the year, Israel saw a steady improvement in its diamond trade in the third and fourth quarters of the year, according to Ministry of Industry, Trade and Labor Diamond Controller Shmuel Mordechai, who published figures for Israel’s diamond imports and exports during 2012.

 

Israel’s net polished diamond exports stood at $5.6 billion for the year, compared to $7.2 billion for the same period last year, a decline of 23%.

Mordechai said that Israel’s diamond trade seems likely to continue to improve in 2013 and return to levels of 2011, which was a record year.

 

Israel’s net rough diamond exports totaled $2.8 billion in 2012, compared to $3.5 billion in 2011, a 20% decrease.

 

Net imports of polished diamonds were $4.27 billion, compared to $5.68 billion for the year, a 25% drop.

 

Net rough imports stood at $3.8 billion, 13 % less than in 2011, when they totaled $4.4 billon.

 

The United States continued to be Israel’s major market for polished diamonds, accounting for 36% of the market. Hong Kong was the next largest market with 28% of exports, with Belgium accounting for 8%, Switzerland 5%, U.K. 5% and the rest of the world 18%.

Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI) said that he was confident that the Israeli Diamond Industry was back on track to renewed growth. “While the economic challenges of 2012 affected the entire diamond industry, we saw a marked recovery in Israel’s diamond trade from mid-year. This year we look forward to continuing this positive trend and even to beating our record of 2011,” Ganz said.

 

IDI Managing Director Eli Avidar said, “We are upbeat about Israel’s diamond trade in the coming year. The US economy is showing improvement, and so is Europe. The Israeli Diamond Industry has weathered the economic difficulties of 2012 and has emerged on a growth path. We’re proud to say that our industry is an island of stability.” Avidar added that the Israeli Diamond Industry continues to be a key factor in markets worldwide. “As a result of our members’ demand, IDI will organize industry participation in more trade shows and in additional markets during 2013,” he added.