Diamonds, Gemstones and Jewelry Up For Auction at the 32nd World Diamond Congress Events


May 19, 2006

Diamonds, Gemstones and Jewelry Up For Auction at the 32nd World Diamond Congress Events

Ramat Gan, May 17, 2006 - One of the highlights of the 32nd World Diamond Congress, to be held in Tel Aviv from June 26-28th, will be the largest auction of diamonds, precious gems and jewelry ever to take place in Israel. Organized by Tzoffey's, an Israel-based company that is a leading auction house for the diamond and jewelry trade, the event will offer up to 450 rare items, with a total value of up to $50 million.

The auction will take place at the conclusion of the Congress on June 28, 2006 at the Tel Aviv Hilton at 6:00 pm. Viewing of auction items begins at the Hilton on June 26.

Invitations have already gone out to Tzoffey clients, which include some of the world's leading dealers. Tzoffey-owner, Avner Sofiov, who is also a former president of the Israel Precious Stones and Diamonds Exchange, expects a turnout of at least 600 to 700 participants. In addition to Tzoffey clients, the auction will be open to delegates to the World Diamond Congress, as well as to members of the local diamond and jewelry business community and private buyers.

"We have seen tremendous interest in the auction," said Sofiov. "In Basel we held a preview and we stole the show. All of the world's biggest names came to see our items.

The goods we collected and secured for this special sale's occasion are very rare," Sofiov emphasized.
Among the items included in the auction are:

  • A five-carat, vivid orange pear-shaped diamond.
  • A set of ten pear-shaped D color flawless diamonds totaling 22.5 carats.
  • A pair of rare emerald and diamond earrings set with two emerald drops weighing 61.8 carats, and diamonds weighing over 10 carats.
  • An impressive diamond pendant, set with colored and white diamonds weighing 41.8 carats.
  • An emerald-cut diamond weighing 13.16 carats
  • A special sapphire and diamond bird-shaped brooch, set with a blue sapphire weighing 43.4 carats and with diamonds weighing over 35 carats.

Sofiov said that the items he is offering come from several private collections, as well as from traders in Israel and around the world. "In order to put items up for auction you have to take them off the market for a certain period of time. Some of the traders we work with want to hold their goods up until the last minute. That's why we have initiated a two-tier system, with the last minute goods being sold in a 'silent auction'," he added.

Items up for bid in the silent auction will be on display, but will not be part of the full-color catalogue. The winning silent auction bids will be published on a computer screen 15 minutes before the start of the public auction.

"I know that these pieces are going to create a lot of interest during the Congress," Sofiov speculates. "People rarely have the opportunity to see so much glamour and richness in one room."

Does he expect to sell the whole lot? "No auction house ever sells all it puts up for auction," he explains, "but competition is heating up. I expect we will do very well."

--PJM



Sign me up for
THIS WEEK @
professionaljeweler.com