Rapaport Press Release: Rapaport Auctions Sells $7 Million in September

NEW YORK--(BUSINESS WIRE)--Rapaport Auctions is pleased to announce polished sales of $7,014,555 in September. A total of 50,870 carats were sold with viewings in New York, Ramat Gan and Dubai. 84% of melee lots and 80% of single stone lots were sold.

“We are pleased to see a return of market activity and are delighted with the success of our auctions. The market for melee benefited from shortages as diamond production was suspended due to Covid-19. Prices were firm and supported by good demand for inexpensive jewelry in China and the US. Single stone demand from Israel continued with good opportunity for buyers who were able to buy at lower prices. We look forward to our next series of auctions in November,” said Michelle Ickowics, Managing Director of Rapaport Diamond Corporation.

“The Rapaport Group is pleased to provide liquidity to the diamond markets during this critical period. In spite of serious difficulties related to international shipping, government lockdowns and strict compliance with health measures due to Covid-19, our teams have worked tirelessly to ensure the consistent flow of trading activity. Now more than ever we are committed to doing everything we can to support our customers. At this time, we are increasing our investment in Rapaport Auctions and the RapNet Diamond Trading Network to ensure excellent trading opportunities for buyers and sellers. Clients seeking assistance and opportunity are encouraged to contact us,” said Martin Rapaport, Chairman of the Rapaport Group.

About the Rapaport Group:

The Rapaport Group provides a broad range of international added-value services that support the development of ethical, 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. a. Group activities include Rapaport Information and Research Services, Rapaport Magazine, and the Diamonds.Net portal; RapNet, the world’s largest diamond trading network; RapLab diamond grading services; 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 and Hong Kong. Additional information is available at www.Rapaport.Com.