Tzoffey's Holds First Rough Diamond Tender at IDE

Ramat Gan: Tzoffey’s 1818, the Israeli-French auction house, will hold its first exclusive African rough diamond tender August 30- September 4 at its brand new premises in the lobby of the Diamond Tower of the Israel Diamond Exchange (IsDE) complex in Ramat Gan. The rough of the upcoming tender is from Africa and includes a run-of-mine production, a wide variety of 5-10.8 caraters and many specials, i.e. rough stones larger than 10.8 carats.

“Tzoffey’s specializes in making its infrastructure and marketing solutions available to small producers who do not have sales and distribution systems of their own,” Avner Sofiov, the company’s CEO explained. “We provide these smaller miners with turnkey solutions as we sort the goods into salable lots, set reserve prices, and tender the goods to a select target audience that is always looking to buy rough.”

Sofiov said that auctions and tenders of goods from smaller mines are very popular in the diamond business community. “The tendered lots are smaller, too, making them more accessible and practical for smaller and specialized manufacturers. Add to that the fact that the goods come to them, instead of the buyers having to travel to the source of the diamonds, and we have a win-win scenario on our hands.”

Viewing of the goods will take place between August 30 and September 3. “It is our first tender at the new premises which we opened earlier this month. We now have much more space and no less than nine fully equipped viewing rooms at our disposal in the world’s most secure diamond complex,” Tzoffey’s CEO concluded.