Rapaport Press Release
Rapaport Auctions Sell Over 115,000-Cts. in 4Q
RAPAPORT... PRESS RELEASE, January 14, 2014, New York: The Rapaport Melee Index (RMI™) for small diamonds increased by 4 percent to 130.54 point during the fourth quarter of 2013. Year on year, the index is up 3.5 percent from its level of 126.05 in December 2012.

The diamond market stabilized toward the end of the year after a period of weak demand and price declines in the second and third quarters. Melee diamond prices increased during the last quarter of 2013 as overall trading was boosted by holiday demand in December combined with shortages in supply. Sales during the holiday period exceeded the trade’s low expectations and despite continued consumer caution. Polished trading is expected to improve during the first quarter driven by the Chinese New Year and as U.S. retailers start to replenish sold inventory. (Story continues after the graph.)

small diamonds

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“We’ve seen strong demand in the fourth quarter with steady U.S. orders driving liquidity and market stability. Small melee diamond prices consistently increased these past few months as shortages in supply were noticed. Manufacturers are currently increasing production and the New Year is starting with positive sentiment due to the upcoming Chinese New Year. We are anticipating current price trends to continue throughout the first quarter,” said Ezi Rapaport, Director of Global Trading, Rapaport Group. 

Rapaport Diamond Auctions sold over 115,000 carats of diamonds for $24.5 million during the fourth quarter of 2013. While the U.S. wholesale market is solid, demand from overseas buyers continues to drive up market prices. Rapaport Auctions continue to provide a reliable fair market value platform for a broad range of diamond sizes and qualities with competitive bidding from the strongest buyers and consistent cash flow for suppliers from around the world. 

 

Upcoming Rapaport Auctions:

  • January 14-22, New York & Dubai
  • January 15-22, New York & Israel
  • January 27 - February 10, Miami & New York
  • February 4-12, New York & Belgium
  • February 5-12, New York & Israel

To participate in Rapaport Auctions, companies are invited to visit: www.rapaportauctions.com, contact Auction Support via email: auctions@rapaport.com or call their local Rapaport office.

 

The Rapaport Group operates in compliance with the U.S. Patriot Act and OFAC regulations, and does not trade in diamonds from Marange, Zimbabwe.

Rapaport Media Contacts: media@diamonds.net
U.S.: Michelle Ickowics +1-917-833-8796; 
International: Lisa Miller +1-702-425-9088;
Mumbai: Manisha Mehta +91-97699-30065 

About Rapaport Auctions: Rapaport Auctions provide an excellent opportunity for the diamond trade to buy and sell diamonds at cash prices. The large quantities and wide variety of merchandise offered attract competitive bids from a broad range of local and international buyers. Rapaport Auctions is committed to addressing the needs of the international diamond community for enhanced liquidity while presenting unprecedented buying opportunities.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, efficient and competitive diamond and jewelry markets. ‎‎Established in 1978, the Rapaport Diamond Report is the primary source of diamond price and market ‎‎information. Group activities include Rapaport Information Services providing research, analysis and news; RapNet - the world's largest diamond trading network; Rapaport Laboratory Services provides GIA and gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services with monthly services of over 50,000 carats.  The Group employs 180 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, Hong Kong and Shanghai. Additional information is available at www.Rapaport.com.

Martin Rapaport (Publisher) grants limited permission to use copyrighted data appearing in this press release ‎‎in and in conjunction with journalistic copy, reporting or articles concerning diamond pricing and information ‎‎in graph or data presentation format only. The following credit notice must appear alongside, underneath, or in ‎‎close proximity to any use of the copyrighted data: “Used with permission of Rapaport USA, Inc. Copyright © ‎‎Martin Rapaport.  All rights reserved.”



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