ISRAELI DIAMOND WEEK OPENS IN NEW YORK

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Israeli Diamond Week at New York’s diamond bourse has already received positive feedback, on only its first day. Members of the Diamond Dealers Club and the Israel Diamond Exchange said that in the last 20 years they have not seen the bourse so lively.Fifty Israeli diamond companies came to New York in order to take part in Israel Diamond Week, a joint venture of the presidents of the diamond bourses of Israel and New York  -Yair Sahar and Reuven Kaufman. The event is intended to stimulate diamond traders of both bourses, and from initial impressions, it can be said with confidence that it has already surpassed the organizer’s expectations.Forty-five Israeli diamond companies showed up at the New York diamond bourse on the first day of the week – the other five will arrive later in the week – and the hall began to get lively. DDC president Reuven Kaufman mixed it up with the participants like a groom on his wedding day, receiving many pats on the back from members of both bourses, and even DDC honorary president Eli Izhakoff, who was impressed with the event. Israel Diamond President Yair Sahar, who initiated Israel Diamond Week with Kaufman, was forced to remain in Israel as he was invited by Deputy Foreign Minister Danny Ayalon to take part in a high-level meeting with the vice-president of Alrosa, Yuri Okoyomov. Instead, the Israel Diamond Bourse was officially represented by Chair of the Finance Committee Moti Flock, who appreciated the warm feedback, as did Managing Director Moti Besser.

Managing Director of the DDC Dr. Martin Hochbaum and his staff helped with the organization of the hall in preparation for the event. The maestro who conducted the entire production, Dana Oren, assistant to the Israel Diamond Exchange General Manager, received all the attendees at the entrance to the bourse coming in from Manhattan’s 5th Avenue, handing them special tags prepared in advance in Israel, and figuring out work-arounds for those who registered late.

Israel Diamond Exchange members found their place at the tables prepared for them in advance. The hosts chose to organize the tables in alphabetical order, and Eli Traub from A.B.T. was seen at the first table.

Certain Israeli diamond traders, including the Israel Diamond Exchange general manager, arrived on an overnight flight, landing in New York on Monday morning. Those flying into Newark lucked out, because the JFK passengers had to wait for several hours in lines at the immigration authorities.

Most of the participants are staying at two hotels close to 47th Street, thanks to the low price that the Israel Diamond Exchange secured, and the significant 50% subsidy intended to promote the business dealings of Israeli diamond companies.

Delivery companies Malca-Amit and Brinks lent a hand by allowing their customers to participate in the exhibition at reduced prices. Brinks even sponsored a light lunch for the exhibition participants so they would not have to leave the premises for a long time.

Reuven Kaufman apologized to the participants for the customs authorities’ decision to do spot checks at the offices of Malca-Amit, causing a delay of several hours.

The atmosphere in the trading hall was warm and supportive. Many have been making new connections, and many others are renewing old connections that have frayed with time.

Many participants reported successful business deals made on the first day of the exhibition and the expectation of an increase in the amount of deals with the arrival of additional consumers in the days to come.

 

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