About
Rapaport Auctions

RAPAPORT AUCTIONS

Rapaport Auctions, held monthly in diamond trading centers worldwide, are an efficient, cost-effective way to buy and sell melee and certified and uncertified polished diamonds. Motivated buyers and sellers can trade a large variety of diamond assortments in our highly respected competitive cash market. Our extensive, global network – from New York to Israel to Hong Kong – enables us to target even the most specific segments of the diamond markets to give maximum exposure to your diamonds.

Rapaport Auctions operate under the auspices of The Rapaport Group, benefitting from a highly skilled staff of diamond specialists worldwide, well-versed to assist buyers and sellers maximize their auction experience. Our expert staff provides the extra level of customer service, from performing quality control to appraisals, certification, and if required, re-cutting and re-certification of diamonds.

With over 40 years of diamond market expertise, Rapaport is well-known throughout the global diamond trade for our special emphasis on personalized care and professional service. Rapaport takes full responsibility for the marketing, security, merchandise delivery, and payment for diamonds at auction in compliance with international laws.

How Auctions Work

1

SUBMIT DIAMONDS

Submitting diamonds for Rapaport Auctions is easy and seamless. Suppliers must first register and complete a Trading Agreement before receiving a unique login and password for the Rapaport Auctions website. A dedicated Rapaport Trading Manager will assist suppliers in setting up their accounts and starting the process. Then send your diamonds to Rapaport’s New York office with a completed submission form for the upcoming auction.

2

ANALYZE & PREPARE

Upon receipt of diamonds, Rapaport gemologists and diamond experts review and analyze the merchandise and advise on value-added services like sorting, boiling, and certifying to help achieve the most competitive prices at auction. Your Trading Manager will guide you throughout the entire process and provide strategic sales recommendations for all your lot submissions.

3

VIEW LOTS & BID

To participate in our auctions, buyers must first complete a Trading Agreement and arrange a 10% bid deposit. After your bid deposit is confirmed, you will receive a unique login and password for the Rapaport Auctions website. Once registered, you can schedule a viewing appointment with a Rapaport Trading Manager. You are then ready to place bids online within your approved limit and submit your sealed bids by the auction deadline.

4

RECEIVE RESULTS

Once the auction closes, sellers receive the highest bids for their lots and have one business day to accept or reject the offers. Winning bidders are notified and invoiced one day after the auction closes.

5

PAYMENT

Winning bidders have three business days from invoicing to pay. All sales are final and returns after delivery are not accepted. Payments are executed to sellers one week after funds are collected. After final payments have been received, arrangements can be made to pick up merchandise from Rapaport’s office or ship at the buyer’s expense.

Bidding Process

Rapaport Melee and Single Stones Auctions are similar in format to silent auctions and tenders, with viewing held over an eight to ten day period. Bidders may schedule appointments to view the lots and must submit sealed bids by the close of auction. Once the auction is closed, sellers have one business day to approve or reject the highest bids. Winning bidders are invoiced and have three business days to make payment.

1

BECOME A REGISTERED RAPAPORT TRADING PARTNER

Melee and Single Stone auctions are open to all qualified members of the diamond trade.

Register: Sign up as a Rapaport Trading Partner.
Submit Your Documents: Send a copy of your company’s Business License or Certificate of Incorporation to [email protected].
Bid Deposit: Submit a 10% bid limit deposit via wire or check.

2

Schedule an Appointment

Contact your Rapaport Trading Manager to schedule a viewing appointment in one of the Rapaport office locations where the auction is being held. Appointment requests may also be sent to [email protected]

3

Submit Bids

Buyers may inspect all diamond lots in our office during an auction. Sealed bids may be submitted online by close of auction.

4

Payment

Winning bidders are notified and invoiced after auction close, and full payment is due three business days after date of invoice. Payments are accepted via wire transfer or certified check and made to the Rapaport office where the auction was held. Merchandise is released after funds clear Rapaport’s bank account.

5

Delivery of Diamonds

Upon receipt of funds, lots will be released to winning buyers at the Rapaport office where the auction was held. Shipping can be arranged with a buyer’s carrier account.

6

Sales Terms

All sales are final, AS-IS for cash with no returns, refunds, or exchanges. Rapaport does not guarantee the quality of diamonds or grading reports but does guarantee the diamond and grading report match. Bidders are encouraged to view lots. Details are outlined in the Rapaport Trading Agreement.

All participants in Rapaport Auctions must comply with U.S. Patriot Act and OFAC regulations. The Rapaport Group does not deal in diamonds from Marange, Zimbabwe, or diamonds directly involved in human rights violations.

    Buyer FAQs

Rapaport Auctions is a unique platform consolidating diamonds from suppliers worldwide motivated to sell at fair cash prices. Buyers have unprecedented opportunities to purchase large quantities and varieties of diamonds at competitive prices in monthly auctions at Rapaport diamond trading centers worldwide.

Melee auctions consist of uncertified diamonds sold in parcels without reserve prices. Single Stone auctions are comprised of certified and uncertified diamonds. Each stone is sold individually, without reserve prices. Buyers must inspect all lots before submitting bids as Rapaport does not guarantee the quality of the diamonds.

The auction format is similar to silent auctions and tenders with viewing over a specified time period. Sealed bids are submitted by the close of auction and are not disclosed publicly. Sellers have one business day after closing to approve or reject top bids and buyers are then invoiced for lots accepted.

Rapaport Auctions are open to qualified members of the diamond and jewelry trade.

All participants must register as Rapaport Trading Members by completing the online registration, submitting business license information, and agreeing to the Terms and Conditions. After business and identity confirmation, authorized applicants may apply for a bid limit. All participants in Rapaport Auctions must comply with U.S. Patriot Act and OFAC regulations. The Rapaport Group does not deal in diamonds from Marange, Zimbabwe or diamonds directly involved in human rights violations.

The first step is to register here.

A Rapaport Trading Manager will contact you and coordinate your participation in the auctions of your choice.

Buyers must complete a Rapaport Trading Agreement and arrange a bid deposit of 10% of the total amount they would like to bid.

Upon receipt and confirmation of their bid deposit, buyers receive a unique user login and password to access the Rapaport Auctions website at www.rapaportauctions.com

Auctions are held at Rapaport diamond trading centers worldwide including New York, Antwerp, Ramat Gan, Mumbai, Surat, Dubai, and Hong Kong.

The catalog is created during the lead-up to the auction and updated online at www.rapaportauctions.com. The final catalog is available at the start of auction.

All bidding is done online at www.rapaportauctions.com. Bids may be submitted until close of auction.

Buyers may bid on as many lots as they choose as long as the total of their bids is within their approved bid limit.

Bid deposits are required and must be arranged with a Rapaport Trading Manager in the office where the auction is held. E-mails may be sent to [email protected].

Bid deposits or bid limit privileges for Rapaport Auctions are required and must be arranged with a Rapaport Trading Manager in the office where the auction is held. E-mails may be sent to [email protected].

Buyers may view lots by appointment only. Contact your Rapaport Trading Manager or the office where the goods are located to schedule an appointment.

Funds from cash, check, or wire transfer deposits will be returned within three business days following the auction’s close.

Successful bidders will be notified and invoiced the day following the auction’s close. Full payment is due within three business days to the Rapaport office where the auction took place.

After final payments have been received, arrangements can be made to:

  • Pick up merchandise from Rapaport diamond trading office where lots are being held.
  • Arrange for pick-up of merchandise by registered shipping company at buyer’s cost.
  • Request that Rapaport arrange shipment at buyer’s cost.
  • Buyers are responsible for all local sales or import taxes associated with shipping winning merchandise.

There are NO buyer fees. Rapaport Auctions are limited to members of the diamond and jewelry trade only.

All buyers are responsible for any import, export or sales taxes.

 

    Seller FAQs

Rapaport Auctions is one of the largest recyclers of diamonds in the world. We help retailers, gold buyers, wholesalers, and pawnbrokers sell their diamonds quickly and efficiently and provide consistent cash flow through our monthly auctions. With more than 18,000 clients in over 70 countries, our auctions foster competitive bids from the most serious buyers worldwide. Whether you are buying from the public or looking to move excess inventory for immediate cash, Rapaport Auctions provides a secure, robust platform to achieve the most competitive prices.

Rapaport Melee auctions consist of uncertified diamonds sold in parcels. Single Stone auctions are comprised of certified and uncertified diamonds, sold individually. The auction format is similar to silent auctions and tenders with viewing over a specified time period. Sealed bids are submitted prior to close of auction, and sellers have one business day after closing to approve or reject top bids. Buyers are then invoiced for lots accepted and payment is executed for all lots sold.

The first step is to register here.

A Rapaport Trading Manager will contact you and coordinate your participation in the auctions of your choice.

Sellers must complete a Trading Agreement to submit diamonds for sale, subject to approval by Auction Support. All registered clients receive a unique user login and password to access to the Rapaport Auctions website at www.rapaportauctions.com

  • Contact a Rapaport Trading Manager by email: [email protected] or call +1-800-488-9108.
  • Rapaport will inspect all goods and review reserve prices before accepting them for auction.

Rapaport Melee Auctions consist of uncertified goods sold in parcels from -2.5 sieve plate to 1ct sizes, including finely assorted melee, mixed breakout, broken goods, and closeout merchandise.

Single Stone Auctions consist of a wide variety of certified and uncertified polished diamonds in round and fancy cuts, from 0.50ct to 5ct+ sizes

For melee, it’s important to keep the value of the lot between $10,000 and $35,000. We keep a minimum value per lot so as not to overwhelm buyers with too many lots to view, and the cap keeps bidders competitive.

For single stones, the minimum is 50 points and above. The maximum amount ranges on a case-by-case basis. Suppliers submitting for the first time are held to a maximum value they may submit, which changes depending on their ongoing percentage of sales.

Merchandise approved for submission must be delivered to the designated Rapaport office no later than seven business days prior to the auction. Unsold stones can be picked up following the close of auction. Sellers are responsible for all shipping costs. Rapaport fully insures all diamonds on our premises.

Suppliers are notified of the results the day the auction closes.

Sellers are paid for all lots sold eight days after invoicing. Rapaport guarantees the seller receives payment for the diamond less commission and all administrative fees, or the diamond will be returned to the seller.

Once diamonds are accepted for auction, they are exclusive to Rapaport Auctions and must be removed from RapNet and other public listings.

There is a charge of up to 6% on diamonds sold. Contact a Rapaport Trading Manager for additional details.

Our Global Offices

 

Las Vegas

New York

Belgium

Israel

Dubai

India

Hong Kong

Contact Us

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