Highlight of 32nd World Diamond Congress: Auction of Diamonds, Gemstone and Jewelry

The auction will offer up to 450 rare items with a total value of up to $50 million. Among the items: diamond earrings set with two emerald drops weighing 61.8 carats, and diamonds weighing over 10 carats and more
 
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 to 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 the 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 600-700 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."
 
A few highlights: 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 and more.
 
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 'silent auction'," he added.
 
Items participating in the "silent auction" will be on display but will not be part of the full-color catalogue. The winning 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," said Sofiov. "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, but competition is heating up. I expect we will do very well," he said.