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Rapaport Certified Diamond Auction sells only 17.5% lots
Owes lowered sales to the economic slump
By: Diamond World News Service
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Feb 8 2008 12:00AM
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Reference: 1330  

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The Rapaport Certified Diamond Auction ending January 31st did not conclude with high numbers as only 17.5 percent of the products were auctioned and bought. There were 40 products in total which were auctioned but only seven were bought. Each of the seven stones were auctioned between $5,055 to $56,672.

Of the seven, the highest-priced stone, although price not mentioned, was a H color, VS1 clarity 3.52-carat diamond graded as "excellent." The second most valuable auction was worth $16,397 for a 1.01-carat D color round stone with IF clarity and graded as "excellent". The auctions began on September 20, 2007, and concluded on January 31 2008. This was the fifth online sale of diamonds by Rapaport.
Rapaport Chairman Martin Rapaport has created this system of auction in an effort to create a futures market for diamonds.

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