De Beers Auctions Return to Israel After Nine-Year Gap
October 15, 26
(IDEX Online) - De Beers Group Auctions has returned to the Israel Diamond Exchange (IDE) after a nine-year gap, allowing Israeli diamantaires to inspect the company's rough diamonds locally before bidding through its online sales platform.
The diamonds were due to be displayed to buyers in Ramat Gan this week (from October 13 to 15).
The Israel Diamond Exchange announced in July that De Beers auctions would return to its tender center, as part of an effort to revive Israel's diamond trade and attract more international business.
IDE president Nissim Zuaretz said: "The fact that one of the world's most important diamond companies chooses to bring its rough diamonds to the Israeli exchange is an expression of confidence in the industry, Israeli diamantaires and Israel's status as one of the world's leading diamond centers," according to report in Globes, the Israel-based financial news website.
The arrangement allows Israeli buyers to examine the goods and participate in the purchasing process without travelling abroad. The exchange has not disclosed how many buyers are participating or whether the event has generated additional sales.
De Beers Group Auctions operates separately from the company's regular Global Sightholder Sales, which account for about 90% of its rough-diamond sales by value.
Sights are held ten times a year in Botswana, Namibia and South Africa, where contracted Sightholders inspect their allocations before deciding whether to buy.
The return comes as Israel's diamond trade faces a sharp downturn. Net polished-diamond exports fell 22.3% year on year in the first half of 2026, to $625.7 million, while net rough-diamond exports declined 34.6%, to $191.2 million.
File pic courtesy De Beers.