Rapaport Diamond Melee Auction Sells $4.69 Million

NEW YORK--(BUSINESS WIRE)--The latest Rapaport Diamond Melee Auction closed on September 2, 2010, achieving 100% sales. A total of 39,790 carats were sold for $4,692,991.

Since the beginning of 2010, Rapaport Auctions have sold over 260,000 carats of polished diamonds through monthly melee and single stones auctions in New York and India.

“Melee diamond prices reached new record highs at the latest Rapaport Diamond Melee Auction held this past week. After a slow July there was an increase of activity and demand throughout August, stimulated by a second round of Christmas orders coming from major U.S. retailer chains, as well as a very successful IIJS show which took place in Mumbai, India. Continued increased diamond consumption in India and the Far East have been driving prices ever since the melee market bottomed out in March 2009,” said Ezi Rapaport, Director of Global Trading at Rapaport.

Upcoming Rapaport Polished Diamond Auctions

October	11-15	Melee
October	25-28	Single Stone and Certified Diamonds
November	15-19	Melee
December	13-16	Melee

Companies that would like to participate in Rapaport Auctions are welcome to email [e-mail] or telephone [phone]. Trading registration and additional information including updated schedules is available at www.rapaportauctions.com.

The Rapaport Group operates in compliance with U.S. Patriot Act and OFAC regulations and does not trade in diamonds from Marange, Zimbabwe.

About Rapaport Auctions: 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 local and international buyers. Rapaport Auctions address the needs of the international diamond community for enhanced liquidity while presenting unprecedented buying opportunities to buyers.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality-control, compliance, shipping, and financial services.