Israel Diamond Exchange President Yair Sahar: "We have experienced four days where all our senses have been overwhelmed and there has been huge excitement in the bourse. This is something we have never experienced before."
Smiling faces and hands held with auction paddles as people bid for diamonds at an auction of diamonds and gemstones were just part of the Grand Finale of the US/International Diamond Week at the Israel Diamond Exchange (IDE) which ended yesterday (March 20) with an exceptionally well-attended auction of white and colored diamonds and gemstones and jewelry organized by Tzoffey's 1818 at the Cullinan restaurant.
Before the auction, renowned diamond industry analyst Chaim Even-Zohar, President of Tacy Ltd., gave a presentation on the state of the global diamond market. At the end of the speech, the signal was given and on to the stage bounded Meni Pe'er who compered the auction before the top leadership and management of the Israel Diamond Exchange, hundreds of IDE diamantaires and buyers from overseas.
"We have experienced four days where all our senses have been overwhelmed and there has been huge excitement in the bourse," said Israel Diamond Exchange President Yair Sahar. "This is something we have never experienced before. I want to thank all the speakers who gave us fascinating presentations, and all our guests who honored us with their presence. One of the people who gave so much in creating this exceptional auction is Avner Sofiov who put it together in a short period of time."
Pe'er told the audience 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 – and then moved on to the first lot of the evening, a pair of earrings set with 5.35 carats of certified diamonds that were sold for $42,000.
One after another the lots were shown on giant screens with a brief description of the items. And numbered auction paddles that were handed out to participants before the sale started were raised and the smiles quickly spread as lucky winners provided the top bids.
Most of the items were bought for prices that ranged between $7,000 and $15,000, and one of the outstanding items was round 1.41-carat fancy violet-grey with a certificate that was sold for $68,000. Meanwhile, a 1.27-carat fancy intense purple pink cushion cut GIA certified diamond of SI1 clarity that sold for US$242,000 was the largest sale of the evening.
And following the auction, the audience enjoyed a large buffet dinner with wine, accompanied by singing by Avrumi Rosenbaum who provided the perfect end to the Israel Diamond Exchange's inaugural Diamond Week.
