IDE Hosts Successful KOIN Tender of Large Stones

The Israel Diamond Exchange (IDE) last week completed a successful first tender by KOIN International at its International Tender Center. The tender offered rough diamonds of 10.80 carats and over as well as fancy color diamonds as from the EKAPA (Kimberley) Mine in South Africa. Among the stones was an extraordinary 49 carat Vivid Yellow diamond.

Although mostly comprised of large stones, the tender also offered a variety of rough in all sizes and colors, including packages of colored diamonds of 2.00-4.00 carats and 5.00-10.00 carats.

Despite the slowdown in the diamond market caused by the coronavirus, KOIN International reported that attendance at the tender was high, with the majority of stones, including the 49 carat diamond, being sold.

Adam Schulman, CEO KOIN International said, “With the travel and other impacts COVID-19 has had on our industry we were very pleased to be able to bring our EKAPA tender to Israel, and we were especially pleased by its success. We will definitely conduct more tenders in Israel in the future.”

Zvika Zamir, Chairman of the IDE Rough Diamonds Committee, said, “The good of the manufacturers in Israel is at the top of our minds and that is why we brought the KOIN tender to Israel. I was happy to see that all the rooms in the International Tender Center were filled to capacity. We will continue in our efforts to bring more rough diamonds to Israel.”

Yoram Dvash, President of the Israel Diamond Exchange, said, “The KOIN International tender brought high quality large and fancy colored goods from the EKAPA mine, which is what the Israeli diamond industry specializes in. We are very gratified by the success of the tender, especially during this challenging period. We thank KOIN International for its support in holding this tender at the Israel Diamond Exchange.”

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