The International Rough Diamond Week in Israel was opened. It is an event hosted by the Diamond Exchange and will be attended by representatives of the world’s leading mining companies Rio Tinto, De Beers and Alrosa. The viewing of the diamonds will end on late March.
The event features a range of rough diamonds which will be viewed and tendered, with stones on display from the KAO mine in Lesotho and rough goods from French-Israeli auction house Tzoffey’s 1818 in ranges of 3-6 grams, 4-8 grams, 5-10 carat diamond and rough fancy colored diamonds.
The International Rough Diamond Week was already a success before it even started. Tzoffey’s tender was overbooked with around 140 rough buyers and dealers reserving their slots ahead of the show. The IDE provided four extra rooms for them to be used on the last day of event to meet overwhelming demand.
The visual highlight of the week-long event is the 29.6 carat vivid blue diamond that was recovered by Petra Diamonds from its Cullinan mine in South Africa. I was sold to Cora International last month for a staggering $25.6 million – at $864,865 per carat. IDE’s president says the blue diamond will be the “jewel in the crown of the event.”