BWI: Rapaport Melee Diamond Index (RMI) Up 14% in 1Q to 140.72

Press release from Business Wire India
Source: Rapaport Group
Tuesday, April 03, 2012 12:26 PM IST (06:56 AM GMT)
Editors: General: Consumer interest; Business: Business services, Commodities & materials, Major diversified industrial groups, Retailers
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Rapaport Melee Diamond Index (RMI) Up 14% in 1Q to 140.72
Rapaport Melee Auction Sells 58,000 carats for $8.25 million. 100% of lots sold

New York, United States, Tuesday, April 03, 2012 -- (Business Wire India) -- The Rapaport Melee Index (RMI) for small diamonds rebounded 14% to 140.72 in the first quarter of 2012. While prices have returned to March 2011 levels, they remain below the June 2011 RMI of 153.73.

Rapaport's March Melee Diamond Auction sold 58,000 carats for $8.25 million. Record high prices were achieved in specific categories with strong demand from U.S. and Indian buyers supporting sales.

"We are seeing a strong rebound in prices for commercial quality melee and higher levels of liquidity after a slow second half of 2011. Traders have returned to the market bringing market prices back to levels reached last year. We are excited to have achieved record high prices in certain categories, exceeding sellers' expectations. Rapaport Auctions continue to attract hundreds of the strongest international buyers while providing the second hand market with a competitive platform to achieve fair market value for their recycled diamonds." said Ezi Rapaport, Director of Global Trading.

Rapaport Melee Index (RMI)

Upcoming Rapaport Auctions:

-- April 23 - May 3, New York & Belgium

-- April 25 - May 1, New York & Israel

-- May 14-24, New York & Belgium

-- June 6-12, New York & Israel

-- June 11-14, New York

To participate in Rapaport Auctions, companies are invited to visit: www.rapaportauctions.com, contact Auction Support via email: auctions@rapaport.com or call their local Rapaport office.

The Rapaport Group operates in compliance with the U.S. Patriot Act and OFAC regulations and does not trade in diamonds from Marange, Zimbabwe.

About Rapaport Auctions: Rapaport Auctions provide an excellent opportunity for the diamond trade to buy and sell diamonds at cash prices. The large quantities and wide variety of merchandise offered attract competitive bids from a broad range of local and international buyers. Rapaport Auctions is committed to addressing the needs of the international diamond community for enhanced liquidity while presenting unprecedented buying opportunities.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.Rapaport.com.

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http://www.BusinessWireIndia.com/attachments/Rapaport_Melee_Index.pdf
Rapaport_Melee_Index.pdf


CONTACT DETAILS
Mittal Kalsy, Rapaport Group, +91 9769930069, mittal.kalsy@diamonds.net
Michelle Ickowics(U.S.), Rapaport Group, +1-917-833-8796
Alissa Goren (International), Rapaport Group, +1-718-473-0882

KEYWORDS
CONSUMER, BUSINESS SERVICES, COMMODITIES, GROUPS, RETAIL

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