Rapaport launches auction website for diamonds
Las Vegas, November 14, 2010 – The Rapaport Group has announced the launch of the Rapaport Certified Diamond Auction website offering continuous ongoing auctions of fine quality GIA graded diamonds at www.rapaport.com/certauction.
The new auction platform creates a global marketplace providing a direct link between diamond cutters in the manufacturing centres and diamond buyers worldwide.
It offers a transparent, liquid, cash market designed to attract investors. And it provides an unprecedented opportunity for consumers seeking to obtain fair market value for the diamonds they wish to sell, the Rapaport Group said.
“The new Rapaport Certified Diamond Auction platform creates an unprecedented opportunity for the diamond trade to establish and communicate fair market prices as it promotes efficient global trading of fine quality diamonds,” said Martin Rapaport, Chairman of the Rapaport Group.
“Furthermore, it provides an opportunity for consumers and investors to obtain fair market value for the diamonds they wish to sell.
“This important new initiative supports the development of honest, free, fair, efficient and competitive diamond markets.”
Buyers and sellers of GIA graded, Excellent to Very Good cut, Round, 0.50 to 10.00 ct., D-K, IF-VS2 diamonds are encouraged to participate in the auction by registering at www.rapaport.com/certauctions.
The Rapaport Group operates in compliance with the U.S. Patriot Act and OFAC regulations and does not trade in diamonds from Marange, Zimbabwe.