1.27 Carat Fancy Intense Purple Pink Diamond Sells For US $190,551 Per Carat At Diamond Week Auction

 The Tzoffey’s 1818 auction of diamonds, gemstones and jewelry that marked the end of Israel Diamond Week has surpassed US$700,000 in sales, according to initial estimates. The most expensive diamond sold at the auction was a 1.27 carat fancy intense purple pink cushion cut GIA certified diamond of SI1 clarity that sold for US$242,000, or US$190,551 per carat.

Yair Sahar, President of the Israel Diamond Exchange, opened the auction, which was conducted before a crowded audience in the Israel Diamond Exchange, by remarking that, “We have passed four days of great excitement. I think that we have all experienced something that we haven’t experienced before.”

Sahar thanked DTC Managing Director Varda Shine, Former Israeli Minister Avi Dichter, Senior Vice President of Laboratory and Research at the Gemological Institute of America Tom Moses, diamond analyst Chaim Even-Zohar, renowned jeweler Laurence Graff, diamond analyst Martin Rapaport, and New York Diamond Dealers Club President Reuven Kaufman for their participation in the event.

Sahar also praised Avner Sofiov, owner of the French-Israeli auction house Tzoffey’s 1818, for taking a concept and bringing it into fruition in just a matter of weeks. “To take a product and to make it happen in eight weeks is not easy,” explained Sahar.

The auction was conducted by Israeli actor and personality Meny Pe’er, who opened the auction by comparing the arrival of United States President Barack Obama in Israel earlier in the day to the arrival of the overseas visitors to the Israel Diamond Week. Advocate Yossi Shlush served as the legal authority for the auction.

 In addition to the tension of the auction, one relatively small sale made the proceedings even more exciting. Vice President of the Israel Diamond Exchange, Ilan Samuel, armed with bidding paddle no 196, made a bid for a heart-shaped diamond weighing 1.96 carats and then donated the proceeds from the diamond sale to the Friends for Friends foundation. The diamond was then auctioned off once more, causing Avner Sofiov to commend the bidders involved of behaving like ‘people and not just businessmen’.

 In total, over 30 lots were sold at the auction. One percent of the proceeds from the sale is being donated to the Friends for Friends foundation.

See images of the diamonds offered at the auction

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Reporting by Michelle Moshelian; Published by the Israeli Diamond Industry.

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