DiamondBuzz
Israel Diamond Exchange quits WFDB amid tariff dispute
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.
DiamondBuzz
Christie’s To Present 5.5 cts “Ocean Dream” At Geneva Magnificent Jewels Sale, Expected To Achieve Up To USD 12.8 Million
Ocean Dream, The Largest Known Fancy Vivid Blue-Green Diamond In Existence, Classified As A Rare Type IIA STONE.
Christie’s has announced the upcoming offering of the Ocean Dream, the largest known fancy vivid blue-green diamond in existence, at its prestigious Magnificent Jewels auction in Geneva in May 2026. The extraordinary gemstone is expected to achieve up to CHF 10 million (approximately USD 12.8 million).
Weighing 5.50 carats, the triangular-cut diamond is graded fancy vivid blue-green, SI1 clarity, and classified as a rare Type IIa stone. The gem is set in a ring featuring an intricate mount adorned with sculpted rock crystal, alongside round and pink diamonds, underscoring its exceptional craftsmanship and design.
Certified by the Gemological Institute of America, the Ocean Dream holds the distinction of being the largest vivid blue-green diamond ever graded by the institute. The polished gem originated from an 11.70-carat rough discovered in Central Africa, further enhancing its provenance and rarity.
This marks only the second time the Ocean Dream has been presented at auction. It was previously sold by Christie’s in Geneva in May 2014, achieving CHF 7.8 million (approximately USD 8.7 million at the time), and has since remained in a single private collection for over a decade.
The diamond’s legacy is further enriched by its inclusion in the renowned “Splendor of Diamonds” exhibition at the Smithsonian Institution National Museum of Natural History in 2003, where it was recognized as one of the world’s most exceptional diamonds.
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