Rapaport Press Release
Rapaport Auctions Sells Over 110,000 Cts of Polished for $23.8M in 2Q
RAPAPORT... PRESS RELEASE, July 4, 2014, New York... The Rapaport Melee Index (RMI™) for small diamonds increased by 1 percent to 138.78 during the second quarter of 2014. Year on year the index is up 3.4 percent from its level of 134.24 in June 2013.

Polished trading slowed during the second quarter following a strong start in the first quarter of the year when retail jewelers replenished their inventory after the Christmas and Chinese New Year seasons. Diamond buying subsequently focused on filling specific orders during the second quarter. However, despite the slowdown, market sentiment remained relatively positive in June. The third quarter is projected to be a difficult period for the diamond trade, as it has been in the past few years. At best, polished prices are expected to remain stable, which will put additional pressure on manufacturers’ profit margins and should influence a decline in rough demand.

Copyright © by Martin Rapaport

“Market prices stabilized in Q2 after a very robust Q1. While prices for certain qualities softened due to slower trading, small melee sizes realized very strong and even record high prices in June as companies sought to fill orders. Trading in the summer is expected to be seasonally slow with anticipated increased demand and liquidity towards mid to end of Q3,” said Ezi Rapaport, the director of global trading for the Rapaport Group.

Upcoming Rapaport Auctions:
• July 8 to 18, New York & Dubai
• August 6 to 13, New York & Dubai
• August 27 to September 4, New York & Israel
• September 10 to 18, New York & Hong Kong
• September 23 to October 1, 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; www.diamonds.net/MediaCenter

U.S.: Michelle Ickowics +1-917-833-8796;
‎International: Lisa Miller +1-718-521-4976;
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 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 118 countries and employs 200 people with 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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