THE ULTIMATE ISRAELI DIAMOND EXCHANGE CENTER TOUR
Ladies and Gentlemen, let me present you with something refreshing!!! I invite you to a VIP tour of the Israel Diamond Exchange which unveils the hidden world of diamonds that remains unknown to most people.
The tour takes you through the heart of the bustling diamond district in Ramat Gan, on the outskirts of Tel Aviv. The Israeli Diamond Exchange holds the title of the world’s largest diamond exchange, your loyal Israeli tour guide is one of the few that provides tours of this hidden part of the Israeli economy. The high stakes and sensitive security of the Diamond Exchange mean that all guests of the exchange provide passport identification, fingerprints, and photos to be used in facial recognition.
The Israel Diamond Exchange tour guides you through the birth of a polished diamond, by witnessing firsthand rough diamonds being polished into the finest of gemstones, in one of Israel’s diamond cutting factories. We see diamond cutters who have been cutting and polishing diamonds for over 50 years, and are of the best cutters worldwide, busy creating their beloved work. The Israel Diamond Exchange tour then takes you through to the highly exclusive exchange trading floor. We comprehensively teach you all the particulars of the IDE. We witness the members of the exchange in animated negotiations, buying and trading Israeli diamonds that will then be sent and sold worldwide. The last stop of the Israel Diamond Exchange tour is a meeting with a master diamantaire, Mr. Hanan Savranksy. Hanan is a third-generation gemologist, and an exclusive member of the exchange, whose creations are not only ingeniously designed but are of the highest quality and style. The cutting of the diamond, the jewelry designs, and the stone settings are done exclusively by Hanan, making Savransky Private Jeweler one of the only jewelry designers whose entire pieces are created, designed, and crafted by one person alone.
What is a Diamond Exchange?
In short, it is a company that provides everything a trader might need to run their business as safely and lawfully as possible including security, regulations, and mediation, to the businesses that work inside the exchange. It has many companies under its umbrella that can conduct their business safely and lawfully. A diamond exchange is a place where rough diamonds are imported, processed, traded, sold, and exported. All diamonds that are sold worldwide are coming from a diamond exchange. The largest and most significant diamond exchange in the world is the Israel Diamond Exchange. The other notable exchanges are in Belgium, New York, India, and Dubai.
What is the Israel Diamond Exchange?
The Israel Diamond Exchange (IDE), is the world’s largest and most sophisticated hub of the diamond trade. It is based in the Diamond Exchange District in Ramat Gan, just outside of Tel Aviv. The exchange was born in 1937 and was founded in 1960 and today operates under the Duty-Free concept. It consists of four interconnected high-rise buildings that form a virtually impenetrable fortress. IDE houses more than 1,200 private offices, covering an expanse of approximately 90,000 sq. meters, with around 10,000 employees passing through the complex every single day. The Israel Diamond Exchange has over 3000 members who are exclusively approved to trade, sell, buy and export diamonds.
Polished diamonds are one of Israel’s leading export items. About one-third of the global rough diamond production is imported to the Israel Diamond Exchange each year, and from there it finds its way to world markets. Israeli technological advances supply the stones that garnish a significant amount of the diamond jewelry sold worldwide. Every single type of diamond, ranging in size, color, shape, and quality can be found in the IDE. The ability of the Israeli diamond industry, to guarantee a steady supply of any specific type of precious stone ensures that business done between traders and companies in the IDE is smooth and easy.
Who can enter the Israel Diamond Exchange?
Because of the sensitive and extreme security measures, guests are not allowed into the IDE. Maintaining security, the only way a guest can enter the diamond exchange is with approval and accompaniment from a member as well as providing passport identification, fingerprints, and a photo for facial recognition. Our tour company gets exclusive permission to allow guests to enter and explore the premises.
Israel Diamond Cutting Industry
Israel’s experienced diamond polishers have a high level of craftsmanship and are considered the most advanced in the world. Israel’s diamond cutters are seen as the pioneers in the ins and outs of cutting and polishing diamonds. Because of their world-class expertise, the most valuable uncut and raw diamonds are sent from all over the world, to the elite of the diamond cutting trade in Israel. As this is the oldest active industry in Israel, you will find many diamond cutters and polishers who are in this profession as it is a tradition that is passed down from father to son.
The Israel diamond cutters exclusively cut and polish the larger and more expensive stones in all different unique shapes, while the small diamonds are exported to be processed, but will be sent back to Israel to be bought, sold, and traded.
Diamond cutting and polishing factories can be found scattered around the Diamond Exchange District. It is the oldest industry that is still running in Israel and has become a global leader in cutting and polishing diamonds. As the industry has modernized, Israel has added a technological compound to their work and has become the pioneer in inventing and producing machines like diamond cutting lasers, automatic grinders, and Computer-Aided Design systems. These technological advancements minimize manpower and create less room for man-made mistakes. These machines are now used globally in cutting and polishing diamonds.
How does a business join the Diamond Exchange? What is the process of diamond trading? How do you become part of the diamond trading industry? How do imports and exports work?