IDE to Host Multiple Rough Sales and Tenders in October

(IDEX Online News) – The Israel Diamond Exchange (IDE) will be hosting multiple rough diamond tenders and sales events during October as part of its “Rough October Fest” event.

The bourse will host rough tenders and auctions by Rio Tinto, De Beers Auction Sales and Tzoffey's 1818. In addition, the exchange will hold a “Blue-White” Diamond Dealing Day during which rough goods will be available for immediate sale in the IDE trading hall.

Rio Tinto will hold its tender from October 11-15. The sale is composed of large (+10.8ct) and fancy colored rough diamonds and will be conducted via a sealed-bid auction system.

Tzoffeys' African tender of 5-10 carat goods as well as specials - 10.5+ stones will take place from October 18-26.

Between October 25 and 27, De Beers Auction Sales will hold a tender for 5+ carat and 10+ carat goods.

The date of the Blue-White” Diamond Dealing Day has yet to be confirmed.

"We are very pleased to have at least three companies holding tenders and auctions during what we decided to call the Rough October Fest," said IDE vice president Arnon Juwal, who heads the event's organizing committee.

"This initiative is yet another building stone in the strengthening of our manufacturing base for larger stones in Israel," said 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."