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Rapaport Hong Kong Polished Diamond Auction Sells Over 80,000 Carats for $12M
Mar 16, 2016 6:41 AM
By Rapaport
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RAPAPORT... PRESS RELEASE, March 16,
2016, New York ... Rapaport Auctions, the leading recycler of diamonds in
the world, closed its auction last week at the Hong Kong show achieving $12M
for over 80,000 carats. The auction consisted of hundreds of parcels of recycled
and finely assorted premium quality diamond parcels in all shapes, qualities
and sizes. The diamonds were sourced from retailers, pawnshops and refineries
from around the world.
“We are very pleased with the results achieved at our auction as it confirms
steady demand for smaller size commercial quality natural diamonds. Melee
prices have firmed over the past few months fueled by shortages following a
sharp 50% reduction in manufacturing during 2H-2015. Recent price stability has
given traders confidence with increased liquidity and dealer trading. Despite
the current uptick in liquidity and positive sentiment at the Hong Kong show,
there is concern that increasing polished supply in the face of weak global
demand may reduce price stability,” said Ezi Rapaport, Director of Global
Trading, Rapaport Group.
For further
information contact: media@diamonds.net
U.S.: Sherri
Hendricks +1-702-893-9400
International: Gabriella Laster +1-718-521-4976
Mumbai: Manisha Mehta +91-97699-30065
Additional
information about Rapaport Auctions is available at www.rapaportauctions.com, or via email: auctions@rapaport.com.
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.
Rapaport Auctions operates in compliance with the U.S. Patriot Act and OFAC
regulations.
About the Rapaport Group: The
Rapaport Group is an international network of companies providing added value
services that support the development of fair, transparent, competitive and
efficient diamond and jewelry markets. Established in 1978, the Rapaport Price
List is the primary source of diamond price and market information. Group
activities include Rapaport Information Services, Rapaport Magazine, and
Diamonds.net, providing research, analysis and news; RapNet – the world’s
largest diamond trading network; Rapaport Laboratory Services provides GIA
gemological services in India, Belgium and Israel; and Rapaport Trading and
Auction Services specializing in recycled diamonds and jewelry. The Group
supports over 20,000 clients in 121 countries and has offices in New York, Las
Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai and Hong Kong. Additional
information is available at www.Diamonds.net.
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Tags:
Auctions, Rapaport, Rapaport Auctions
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