Israel Diamond Week at New York DDC declared a huge success

Ramat Gan, December 10, 2012 - The Israel Diamond Week, which was held during the first week of December on the trading floor of the Diamond Dealers Club of New York (DDC), was declared a great success. The event received praise both from the 50 participating members of the Israel Diamond Exchange (IDE) as well as members and the leadership of the DDC who agreed it was "the best initiative that has ever been organized for bourses members in such a short time frame."

The Israel Diamond Week was the brainchild of IDE President Yair Sahar and DDC President Reuven Kaufman. The two leaders reached agreement on the event and hammered out its final details during the 35th World Diamond Congress in Mumbai in October. They said that the proof of the event's success was seen in the way it was decided, while it was being held, to extend the event by one day.

IDE member Alex Daniel said in an interview with Rapaport TV that this  

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was one of "most beautiful events" ever organized for IDE members. While heaping praise on Yair Sahar for organizing the event, he emphasized that in the current market situation, the best thing the IDE could do is to help manufacturers and dealers gain access to the open market, at a low cost and as such allow them not only to shorten the sales cycle but also to sell their goods more easily to other dealers. "It is a beautiful idea. I think this [concept] should be applied not only in New York, but could be copied elsewhere at other bourses and locations," Daniel stated.

Reuven Kaufman said the number of Israeli diamantaires and companies which participated was extraordinary, noting that while some 20 or so Israeli companies were expected, the IDE succeeded in bringing a delegation of no less than 50. "Only the Israelis can pull off something like that," he said. More than 100 Israeli diamantaires, representing 50 companies, traded on the DDC floor.

Yair Sahar said he was very pleased with the success of the inaugural Israel Diamond Week. "My mission, and that of the IDE board and management, is to create tangible, measurable added value for our members. I hope and believe that the Israel Diamond Week's success in New York will be followed by other similar initiatives that will lower the threshold to other diamond markets across the globe," Sahar stated.

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