Premier eFinance: Recent Rapaport Group auction sees record prices for small diamonds.

The latest Rapaport Melee auction saw prices for small diamonds move into new territory.
July 5, 2011 - PRLog -- Premier eFinance has learned that small diamond prices have risen 45 per cent year-on-year while medium to low quality imperfect goods increased by 70 per cent with the Rapaport Group's latest June auction fetching record prices for commercial quality small diamonds.

The new Rapaport Melee Index (RMI) tracks average auction transaction prices for commercial quality melee. The June 2011 RMI stands at 145, up 8.2per cent from the March RMI of 142, and 45.5 per cent above the June 2010 RMI of 106.

“Rapaport Auctions provide a unique opportunity for retailers and their consumer clients to obtain fair market value for their recycled diamonds. Rapaport Auctions and Buy Now programs attract hundreds of the best international buyers and are held internationally in New York, Hong Kong, Mumbai, Surat and Ramat Gan. Our auction tender system creates an open, transparent, and competitive market that ensures buyers receive honest prices for all qualities of diamonds,” Martin Rapaport, Chairman of the Rapaport Group told Premier eFinance.

Rapaport Auctions create a cash market for diamonds. The large quantity and wide variety of diamonds offered attract competitive bids from a broad range of Asian and international buyers. The auctions address the needs of the international diamond community for enhanced liquidity while presenting unprecedented buying opportunities to buyers.

Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information.

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