Rapaport Press Release
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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