Rapaport Auctions closed its auction last week at the Hong Kong show achieving $12M for over 80,000 carats. The auction consisted of hundreds of parcels of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes. The diamonds were sourced from retailers, pawnshops and refineries from around the world.
“We are very pleased with the results achieved at our auction as it confirms steady demand for smaller size commercial quality natural diamonds. Melee prices have firmed over the past few months fueled by shortages following a sharp 50% reduction in manufacturing during 2H-2015. Recent price stability has given traders confidence with increased liquidity and dealer trading. Despite the current uptick in liquidity and positive sentiment at the Hong Kong show, there is concern that increasing polished supply in the face of weak global demand may reduce price stability.” said Ezi Rapaport, Director of Global Trading, Rapaport Group.