The First Art Newspaper on the Net   Established in 1996 United States Sunday, July 21, 2019


Catherine II steals show at Israeli diamond fair
Diamond buyers take a picture of a replica of Russian Queen Catherine the Great's imperial crown, which was used in the coronations of all Russian monarchs since Catherine the Great, set with 11,352 polished diamonds, with a total weight of 1,180 carats, and on sale for $20 million during the International Diamond Week (IDW) in the Israeli city of Ramat Gan, east of Tel Aviv on February 14, 2017. Some 400 buyers from 30 countries and over 200 diamond companies are exhibiting from Israel and abroad at the sixth International Diamond Week in Israel (IDWI) at the Israel Diamond Exchange (IDE). JACK GUEZ / AFP.

by Jean-Luc Renaudie


RAMAT GAN.- A replica of Russian Queen Catherine the Great's imperial crown stole the show at this week's Israeli diamond market in Ramat Gan, as the industry eyes a recovery.

Set with 11,352 diamonds, Catherine II's crown took pride of place at the entrance to an enormous hall on the outskirts of Tel Aviv, as hundreds of dealers from 30 countries struck deals at Israel's sixth International Diamond Week.

Israel is one of the world's largest trading centres for rough and cut diamonds, rivalling Antwerp in Belgium and Mumbai in India.

The sparkling crown made of pearls and diamonds of more than 1,900 carats was on sale for the "modest sum" of $20 million, said Dmitry Moiseev of the Russian diamond group Kristall Smolensk which owns it.

"Contacts with buyers have been established and we are hopeful," he said.

Hundreds of traders discussed deals and examined stones in the large hall, with diamonds on show that had been cut by jewellers into bracelets, rings, earrings or decorations for luxury watches.

Despite the event overlapping with Valentine’s Day, the atmosphere remained serious.

"Millions are at stake," said Tomer Cohen-Tzion, a professional who cautiously removed a 36-carat stone out from a small black box. It was on sale for $1.5 million.

To protect the riches, the four buildings of the diamond exchange are monitored by sophisticated security technology and a squad of guards.

Visitors had their fingerprints registered on entry to the venue, which was equipped with shops, hairdressing salons, synagogues, air-raid shelters, banks and clinics.

Eli Avidar, managing director of the diamond exchange, said the market was showing a recovery.

"The world has been in a coma for some years," since the 2008 financial crash, he said.

"But the US is on the rise now, and China, which worried us a lot since it was frozen, this year is beginning to rise again. India is also rising."

Last year, Israel's exports of polished diamonds fell by 6.4 percent to $4.68 billion, but Avidar predicted a rebound -- with up to 20 percent growth.

Major customers include the United States, Belgium as a link to Europe and Hong Kong as a hub for the Chinese market.

Laser cutting
For Avidar, the secret of Israel's success is that it specialises in "large stones, or special colours", allowing businesses to absorb the higher labour costs.

"On a stone of $500,000 to a million dollars, (wages) don't matter," he said.

The country relies on new technology, as exemplified by a newly established company specialising in laser stone cutting in the basement of the building.

The market has also opened a new auction centre.

"Israeli diamond dealers will no longer have to travel around the world to buy rough diamonds and they will be able to get supplies on the spot," Avidar said.


© Agence France-Presse





Today's News

February 15, 2017

Rare Georg Baselitz masterpiece set to break artist record at Sotheby's sale in London

Exhibition concentrating on Wolfgang Tillmans' production across different media opens at Tate Modern

Rijksmuseum unveils 18th-century South Africa through comprehensive digital portrait

The Metropolitan Museum of Art opens first major exhibition in the United States devoted to Hercules Segers

Astrup Fearnley Museeet opens Takashi Murakami's first solo exhibition in Scandinavia

Nobel Peace Prize awarded to Alfonso Garcia Robles to highlight Christie's April auction

The Blanton's reinstalled collection galleries now open

First solo show of new paintings by Sandro Chia in New York in almost a decade opens at Marc Straus

Philippines' Imelda Marcos loses bid to reclaim jewels

Exhibition of early work by Jonathan Leder on view at Castor Gallery

The ICA/Boston presents U.S. debut of Steve McQueen's powerful video installation, Ashes

Heather Saunders appointed Director of Ingalls Library at the Cleveland Museum of Art

Tampa Museum of Art presents "Who Shot Sports: A Photographic History, 1843 to the Present"

Spink announces fifth sale of the Lord Stewartby collection

Palais de Tokyo exhibits work by Mel O’Callaghan

Richard Mosse creates an immersive multi-channel video installation at the Barbican Art Gallery

Thirteen stolen artworks from the Gardner Museum and video on view at the Mead Art Museum

Arthurina Fears joins the Davis Museum as Manager of Museum Education and Programs

"Tula Telfair: Invented Landscapes" exhibition opens at Heather Gaudio Fine Art

Installation by Laure Prouvost transforms the ground floor of Witte de With

Exhibition of new paintings by Carl Ostendarp on view at Elizabeth Dee

Catherine II steals show at Israeli diamond fair

ARGOS centre for art & media opens exhibition of works by Alexis Destoop

Exhibition at Jeu de Paume retraces Peter Campus' career

Most Popular Last Seven Days



1.- Original 'Star Wars' creators lift lid on special effects challenges

2.- Lost '$170 million Caravaggio' snapped up before French auction

3.- Mansell's 'Red Five' on pole for Bonhams sale

4.- Impressionism's 'forgotten woman' shines in new Paris show

5.- Sotheby's to auction the best-surviving NASA videotape recordings of the Apollo 11 Moon Landing

6.- Exhibition explores Dutch and Spanish painting of the 16th and 17th centuries

7.- Cyprus discovers 'first undisturbed Roman shipwreck'

8.- Sotheby's unveils 'Treasures from Chatsworth' with Leonardo Da Vinci drawing, Lucian Freud portraits, and more

9.- Infamous botched art restoration in Spain gets makeover

10.- 1958 Gibson Flying V Korina played by Dave Davies to grab center stage in Heritage Auctions' sale



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez


Royalville Communications, Inc
produces:

ignaciovillarreal.org avemariasound.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful