Rapaport to auction ‘record’ quantity of diamonds

Rapaport is set to auction a ‘record’ quantity of diamonds, with 98,000 carats on show at its melee auction in Hong Kong today. 

The auction consists of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes, sourced from retailers, pawnshops and refineries around the world.

The auction is taking place at the AsiaWorld-Expo in Hong Kong from March 2 to March 5, with viewing by appointment only.

Ezi Rapaport, director of global trading at Rapaport Group, said: “We are excited to be auctioning a record quantity of diamonds and providing our suppliers with a unique opportunity to sell their diamonds at one of the largest jewellery shows of the year.

“With rough prices considered to be artificially high we are seeing strong demand for recycled diamonds in our auctions. While there has been a slight uptick in market activity after a weak Q3/Q4, all eyes are on the Hong Kong show as it will play a determining role for the trend in Q2.”