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Rapaport Auctions Reports Record September Sales

82,260 Carats Sold for $14.3 Million

NEW YORK--(BUSINESS WIRE)-- Rapaport Auctions, the largest auction market for recycled diamonds, reported strong activity for the third quarter of 2012 with sales of 82,260 carats for $14.3 million in September. Melee prices stabilized, increasing 3% after a decline of 13% in Q2. Single stone sales were better than expected with steady demand from Israeli dealers.

“There has been a noticeable uptick in prices and trading volume for small melee diamonds following a slow summer season. The recent strengthening of the rupee and expectations for a reasonably good U.S. holiday season improved demand and stabilized prices for a broad range of commercial and promotional-quality diamonds at popular price points,” said Ezriel Rapaport, the director of Rapaport Global Trading.

Upcoming Rapaport Auctions:

October 15-24, New York & Belgium (Melee)
October 17-24, New York & Israel (Single Stone)
November 14-21, New York & Israel (Single Stone)

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.

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.

Rapaport
U.S.:
Michelle Ickowics, +1-917-833-8796
International:
Shira Topiol, +1-702-425-9088
Mumbai:
Manisha Mehta, +91-97699-30065

Source: Rapaport Group