What are Rapaport Auctions?
Rapaport Auctions offer a cash market for diamonds. Melee auctions feature diamonds
sold in parcels, without reserve prices. All goods are uncertified and buyers should
inspect lots before bidding. Single Stone auctions comprise of certified and uncertified
diamonds. Each diamond is sold individually and may be offered without a reserve.
Rapaport does not guarantee the quality of the diamonds and buyers should view the
lots before submitting bids.
The format is similar to silent auctions and tenders with viewing over a specific
time. Bids are submitted sealed prior to close of auction and are not disclosed
publicly. Once the auction closes, suppliers have one business day to approve or
reject the highest bids. Buyers are then invoiced for all lots accepted.
Who can participate in a Rapaport Auction?
Rapaport auctions are open only to qualified members of the diamond and jewelry
trade. All participants in Rapaport Auctions must be registered Rapaport Trading
Members. They must fill out the online registration, submit business license information
with their application, and agree to the Terms and Conditions. After registration,
there is a process of business and identity confirmation. After their account has
been authenticated, they can 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.
How do I participate as a buyer?
The first step is to register here
. An account manager from Rapaport Auction Services will then contact
you and coordinate your participation in the auctions of your choice. Buyers must
complete the Bidder Application Form and arrange a bid deposit of 10% of the total
amount they would like to bid. Upon receipt and confirmation of their bid deposit
they will receive authorization to participate in the auctions. All registered clients
receive a unique user login and password enabling access to the Rapaport Auction website.
Where do the auctions take place?
Auctions are held in Rapaport offices based in New York, Israel, Hong Kong, and
When are the catalogs available to view?
The catalog is created during the lead-up to the auction and updated online at
The final catalog is available once the auction opens.
How do I bid?
E-mail bid forms may be submitted until auction closing time. Bid forms can be downloaded
e-mailed to: email@example.com
Is there a limit to how many diamonds can be viewed or bid on?
Buyers may bid on as many lots as they want as long as the total of their bids is
within their previously approved bid limit.
Is a bid deposit required?
Bid deposits are required and must be arranged directly with a Trading representative
in the office where the auction is taking place. E-mails may be sent to: firstname.lastname@example.org
How can a bid deposit be paid?
Bid deposits or bid limit privileges for these auctions are required and must be
arranged directly with a Trading representative in the office where the auction
is taking place. E-mails may be sent to: email@example.com
Can the diamonds be viewed?
Buyers may view the lots by appointment only. Contact your Rapaport trading representative
or the office where the goods are located in order to schedule an appointment.
How are the bid deposits returned?
For cash, check or wire transfer deposits - monies will be returned within three
working days after the auction closes.
How do winning bidders pay for the diamonds won?
The successful bidder will be notified and invoiced the day after the close of auction.
Full payment must be made within three business days. All sales are final and returns
after delivery are not accepted under any circumstances. Payments must be made to
the Rapaport office where the auction was held.
How do winning bidders receive their lot(s)?
After final payments have been received, arrangements can be made to:
- Arrange for pick up from whichever office the lots are being held.
- Arrange for pick up by a registered shipping company – at buyers’ cost.
- Request that Rapaport arrange the shipment - at buyers’ cost.
- All local sales or import taxes are on the account of the buyer.
Are there any buyer fees?
There are NO buyer fees. Rapaport Auctions are limited to members of the diamond
and jewelry trade only.
Are buyers responsible for paying any taxes on their winning lot(s)?
The buyer is responsible for any import, export or sales taxes.