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RAPAPORT...
PRESS RELEASE, April 19, 2014, New York: The Rapaport Melee Index (RMI™) for small diamonds increased by 5.4% to 137.60 during the first quarter of 2014. Year on year the index is up 1.9% from its level of 135.00 in March 2013.
The diamond market had a positive first quarter as polished prices firmed throughout the period. Polished demand was spurred by jewelers restocking after they sold off inventory during the Christmas and Chinese New Year holidays. The March Hong Kong Jewellery Show demonstrated firm Far East demand with Chinese and Indian buyers back in the market. Trading activity is expected to stabilize in the second quarter now that wholesale and retail jewelers have replenished their inventories and may restrain their buying at current higher price points. Nevertheless, sentiment remains positive after a relatively strong first quarter.
Copyright © by Martin Rapaport “There was increased inter-dealer trading and market liquidity in Q1 as dealers sought to source diamonds while prices continued to rise. Prices have stabilized over the last few weeks and we anticipate the market to remain steady going into the second quarter. Rapaport Diamond Auctions sold over 125,000 carats of diamonds for $27.4 million during the first quarter of 2014,” said Ezi Rapaport, Director of Global Trading at the Rapaport Group.
Upcoming Rapaport Auctions:
• April 29 – May 8, New York & Dubai
• May 7-14, New York & Israel
• June 2-11, New York & Israel
• June 9-12, New York
• June 13-23, New York & Hong Kong
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 fair market value cash prices. The large quantities and wide variety of merchandise offered attract competitive bids from a broad range of 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 sales of over 50,000 carats. The Group employs 190 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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