Veteran Israeli diamond manufacturer Avraham Eshed was one of those chosen for the 2019 Israel Diamond Industry Dignitary award, a biennial honour bestowed on men and women who have contributed to the advancement and promotion of Israel’s diamond industry, either within the country or overseas. In 2006, Avraham’s late father Eliyahu Eshed had also been conferred with the same honour.

Avraham and his wife Nitza Eshed established Eshed Diam and Gemstar, leading exporters of diamonds and coloured gemstones from Israel, respectively. He is also a founder of Sarine Technologies, set up in 1988, and played an important role in the transition and implementation of its manufacturing and decision-making technologies in the diamond industry.

As a second-generation diamond manufacturer, Eshed pays tribute to those who, against all odds, established a diamond industry during the 1930, before the establishment of the State of Israel. “Al most 90 years later, we stand on the shoulders of giants, those pioneers who literally built the Israel diamond industry with their own hands. My father Eliyahu was among those early pioneers who set up a polishing plant in Netanya,” he recalls.

From the early 1970s, Eshed began traveling to Brazil and Africa to buy diamond and colored gemstone rough. He worked with a variety of Israeli and foreign business and production partners, gaining valuable experience and unique insights in both industries in the process.

After realising the need to “create what we today call ‘niche’ businesses”, he set up his own manufacturing units. “Few diamond companies would aim high, at larger sizes, i.e. three to 30 carats, which at that time – 35 years ago - still were the premise of New York and Antwerp,” he recalls. “And the colored gemstone industry was tiny, with a handful of companies that turned over less than a $100 million!”

He also remembers, “In the late 1980s, we hired engineers who developed a cad-cam operated machine that would automatically cut the girdle of a colored gemstone, with the purpose to manufacture standard-sized emeralds and at the same time guarantee a good yield from the rough.”

His realisation that the “application of this technology would be very valuable to the diamond industry”, led to the establishment of Sarine Technologies.

Eshed Diam focuses on large diamonds and has produced top quality stones in sizes ranging between 20 and 150 carats. It has regularly been among the top diamond exporters from Israel over the years. Gemstar is Israel’s leading emerald manufacturer in value terms.

Avraham is a member of Israel Diamond Exchange (IDE) and the Israel Precious Stones and Diamond Exchange (IPSDE) and a past chairman of the Israel Gemstone Cutters Association (IGCA). He is a member and past director of Israel Diamond Manufacturers Association (IsDMA) and is among the founding members of the International Colored Gemstone Association (ICA).

Avraham, 73, is married to Nitza Eshed. They have two sons, Lior and Liran, and one daughter, Tal. Both sons are trained lawyers, with additional degrees in business and accountancy. Lior and Liran both hold managerial positions in Eshed Diam and Gemstar. Tal holds a degree from the prestigious Bezalel Academy and manages special projects at the firm.

The Esheds are enthusiastic members of the Art Acquisition Committee of the Tel Aviv Museum of Arts. Nitza and Avraham are long-time supporters of social programs for underprivileged youth in Israel.

Pic caption: Eshed Avraham flanked by his sons Lior and Liran

Pic courtesy: Eshed Diam