DiamondBuzz

Israel Diamond Exchange quits WFDB amid tariff dispute

Published

12 months ago

April 14, 2025

1,093 Views

The Israel Diamond Exchange (IDE) has suspended its membership in the World Federation of Diamond Bourses (WFDB), citing dissatisfaction with the organisation’s conduct during the ongoing US import tariff crisis, Rapaport News reported.

In a letter to WFDB Secretary-General Rony Unterman on 8th April, the IDE board said the decision followed unanswered requests for information and actions that had harmed Israel’s diamond trade. IDE President Nissim Zuaretz told Rapaport the move was triggered by WFDB President Yoram Dvash’s comments in Calcalist, where he criticised country-specific lobbying and promoted a global strategy for tariff exemptions.

Zuaretz accused Dvash of trying to take credit for advocacy led by the World Diamond Council (WDC), potentially jeopardising Israel’s own efforts. Dvash denied the claims, telling Rapaport they were “untrue and frankly absurd,” and emphasised the WFDB’s ongoing collaboration with the WDC.

Zuaretz said the IDE would shift focus to partnerships with the WDC and the International Diamond Manufacturers Association (IDMA), while also saving over $29,000 in annual fees. Dvash described IDE’s withdrawal as “rash,” warning it could weaken global unity at a critical time for the industry.

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DiamondBuzz

Jwaneng 28.88 Diamond Sale Marks Start of De Beers, Sotheby’s Collaboration

Collaboration Centers on Joint Marketing and Storytelling, Both Companies Co-create a Branded Narrative – “Earth To Art”

Published

9 hours ago

April 13, 2026

JewelBuzz Spread The Buzz

1,846 Views

The sale of the Jwaneng 28.88 diamond later this month marks the start of a collaboration between De Beers and Sotheby’s.

This isn’t a simple transaction; it’s a narrative takeover. Under the banner “Earth to Art,” the two giants are co-creating a branded experience that tracks the journey of a stone from the deep-time pressure of the Botswana crust to the white-glove stage of the auction house.

The face of this revolution is the Jwaneng 28.88. A flawless, D-color, unmounted miracle, this diamond was carved from a massive 114.83-carat rough pulled from the legendary Jwaneng mine—the “Prince of Mines.”

It doesn’t just sparkle; it demands attention. This isn’t just carbon—it’s a curated relic of the earth’s core, reimagined for the modern collector.

The Sale Details

The Jwaneng 28.88 will headline the Magnificent Jewels & Jadeite sale in Hong Kong. It is accompanied by a curated selection of other Jwaneng-sourced treasures, including a solitaire ring and a pair of diamond earrings that redefine “standard” brilliance.

Auction Date: 23 April.Location: Sotheby’s Hong Kong
Estimate: HKD 17M – HKD 22M ($2.2M – $2.8M USD)

While the specific legal ink of the deal remains under wraps, the intent is clear: De Beers and Sotheby’s are no longer just seller and platform. They are storytellers. By merging De Beers’ unrivaled access to the source with Sotheby’s cultural authority, “Earth to Art” ensures that a diamond is never just a stone again. It is a legacy you can hold.