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.)
 Copyright © by Martin Rapaport
“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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