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Seller FAQs

How can I participate in a Rapaport Auction?
The first step is to register here. An account manager from Rapaport Auctions will then contact you and coordinate your participation in the auctions of your choice. Suppliers will be asked to complete the Auction Supplier Form and will then be authorized to submit diamonds for sale subject to approval by Auction Support. All registered clients receive a unique user login and password enabling access to the Rapaport Auctions website.
How do sellers submit diamonds to the auction?
  • Contact a Trading representative by e-mailing auctions@rapaport.com or calling +1-800-488-9108.
  • Rapaport will inspect the goods and review the reserve prices before accepting them for the auction.
What types of goods are accepted for auction?
Our Melee Auctions consist of uncertified goods that are sold in parcels ranging in size from -2.5 sieve plate to two caraters. They feature the following:
  • Finely assorted melee
  • Mixed breakout
  • Broken goods
  • Close-out goods
Our Single Stone auctions consist of a wide variety of certified and uncertified polished diamonds in round and fancy cuts, ranging from 0.30ct to 5ct+.
What is the minimum/maximum amount to supply to an auction?

In regards to melee, it is important to keep the value of the lot over $10,000 but less than $35,000. We keep a minimum value per lot so as not to overwhelm the buyers with too many lots to view, and we keep a max cap on the value to keep bidders competitive.

Our single stone minimum is 50 points and above

The maximum amount ranges on a case by case basis. Companies that submit for the first time are held to a maximum value they may submit. That value will change depending on their ongoing percentage of sales.

How is delivery and shipping of diamonds to the Rapaport offices handled?
Merchandise approved for submission must be delivered to the designated Rapaport office no later than four business days prior to the auction. If the stones are not sold, they can be picked up following the auction. All shipping costs to and from Rapaport and the supplier will be paid by the supplier. Rapaport fully insures all diamonds while they are on our premises.
How soon after the auction are results released?
In general, suppliers will be notified of the results the night that the auction closes.
When do sellers receive payment for the sold goods?
All sellers are paid approximately seven days after the auction close for all lots sold. Rapaport guarantees that the seller will receive payment for the diamond less commission or the diamond will be returned to the seller.
Can diamonds be listed elsewhere while they’re in auction?
Once diamonds are accepted for the auction, they are exclusive to the auction and must be removed from RapNet and all other public listings.
Are there fees to participate?
There is a 5% charge on all diamonds sold. More details may be received from your Trading Manager.
Buyer FAQs

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 Belgium.
When are the catalogs available to view?
The catalog is created during the lead-up to the auction and updated online at www.rapaportauctions.com. 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 from www.rapaportauctions.com and e-mailed to: bids@rapaport.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: auctions@rapaport.com
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: auctions@rapaport.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.
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Upcoming Auctions

March
Tuesday
21
Melee Auction
March 21 - 29
New York & Dubai
 
March 21-23 - New York
March 26-29 - Dubai  
 
Catalog Live:3/21/17
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March
Wednesday
22
Single Stone Auction
March 22 - 29
New York & Israel
 
March 22-23 - New York
March 26-29 - Israel 
 
Catalog Live:3/22/17
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April
Sunday
2
Single Stone Auction
April 2 - 5
 
April 2-5 Israel
 
Catalog Live:4/02/17
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