Submitting diamonds for Rapaport Auctions is easy and seamless. Suppliers must first register and complete an Auction Supplier Agreement to submit diamonds for sale, subject to approval by Auction Support. All registered clients receive a unique user login and password to access the Rapaport Auctions website at www.rapaportauctions.com. A dedicated Rapaport Trading Manager will help all suppliers get set up and started. Diamonds can then be sent to Rapaport’s New York office with a completed submission form of inventory to be entered into the upcoming auction.
How it Works
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 be in direct contact with you throughout the process, providing strategic sales recommendations for lot submissions and answering any questions you may have.
To participate as a buyer in an auction, buyers must first complete a Buyer Agreement and arrange a bid deposit of 10% of the total amount they would like to bid. Upon receipt and confirmation of bid deposit, buyers receive a unique user login and password to access the Rapaport Auctions website at www.rapaportauctions.com.
Registered buyers can then schedule an appointment with a Rapaport Trading Manager to inspect the diamond lots at Rapaport offices during the viewing period. Buyers may bid online on as many lots as they choose within their approved bid limit. Sealed bids are submitted to Rapaport by close of auction.
Sellers receive top bids for all lots submitted the night the auction closes and have one business day to accept or reject top bids. Winning bidders are notified and invoiced one day after auction closing.
Winning bidders have three business days from invoicing to pay in full to the Rapaport office where the auction was held. 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.