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.