Rapaport has opened its melee auction this week with more than 120,000 carats of diamond on offer.
The auction offers a broad range of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes. The recycled diamonds are sourced from retailers, pawnshops and refineries from around the world.
The wide variety of merchandise offered and the opportunity for buyers to purchase such large quantities of diamonds has generated “overwhelmingly positive buyer interest”, according to Rapaport.
Ezi Rapaport, director of global trading at Rapaport Group, said: “We are excited to be auctioning over 120,000 carats of melee diamonds in Hong Kong at one of the largest jewelry shows of the year.
“The diamond markets have stabilised over the past few months and developed a positive momentum. Prices for larger size diamonds are recovering after an extended period of decline.”