New Rapaport Service
Martin Rapaport has just advised of a new Rapaport service to give a diamond price transparency and to provide more trading opportunities for all those in the industry.
He stated, I am writing to you about a major new Rapaport initiative that will significantly increase diamond price transparency and provide trading opportunities for everyone in our industry.
Beginning September 17-20, 2007 we will hold monthly Rapaport Guaranteed and Certified Diamond Auctions. The transaction prices realized at auction will be published on the internet providing a series of accurate and consistent transaction price information for the first time in history.
The transactions prices will be based on GIA graded round diamonds selected and guaranteed by Rapaport to ensure consistent quality. They will be Round, 1.01 and larger, D-K, IF-VS2, X-VG.
The terms of sale will be consistent: Spot Cash, FOB, New York
I believe that it is vital for every member of the diamond industry to have an equal opportunity to participate in the auctions, which will ensure fair, honest, open, efficient and competitive diamond prices.
Everyone is invited to either submit their diamonds for sale, or buy diamonds. The only qualifications are that the diamonds pass our careful inspection and participants comply with the U.S. Patriot Act requirements. Information on participating is provided below.
I take this opportunity to assure all of our friends that the auctions and the transaction prices they generate will be established and managed in a responsible and fair manner ensuring equal opportunity for all.”
This is a new initiative from the Rapaport group and further information is obtainable form the following.
For additional information visit http://www.diamonds.net/auction.