The Israel Diamond Exchange (IDE) will be hosting a series of rough diamond tenders and sales events under the banner of the Rough October Fest. The event will include tenders from Rio Tinto, De Beers Auction Sales and Tzoffey's 1818 as well as a 'Blue-White' Diamond Dealing Day in the IDE trading hall which will include display and direct sales of both rough and polished diamonds.

The Rough October Fest will kick off with Rio Tinto holding its tender in the IDE rough diamond trading hall, October 11-15. The firm's tender is composed of large (+10.8ct) and fancy coloured rough diamonds comprising a diverse range of sizes, shapes and qualities in a variety of colors, including pinks and fancy yellows. Bids can be placed for high-value large single stones, parcels and natural colored rough diamonds.

Following this will be the Tzoffeys' tender from October 18-26, which will showase 5-10 carat goods as well as specials - 10.5+ stones, all from Africa. The 5-10 carat stones are expected to yield polished stones in the 2-5 carat category.

Between October 25 and 27, De Beers Auction Sales will be holding a tender for 5+ carat and 10+ carat goods.

The dates for the ‘Blue-White’ day will be announced subsequently.

"We are very pleased to have at least three companies holding tenders and auctions during what we decided to call the Rough October Fest," IDE Vice President Arnon Juwal, who heads the event's organizing committee, says. "Of course, we look forward to other major producers joining us with more tenders during the month!"

IDE President Shmuel Schnitzer says that the initiative will help strengthen the manufacturing base for larger stones in Israel.