Auction submission process
Submitting auction goods, shipping, delivery and insurance of your goods to the auction, minimum or maximum values/amounts to supply
Philippa Corrick avatar
Written by Philippa Corrick
Updated over a week ago

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Auction submission process: 1st steps

  1. Register here and complete an Auction Supplier Agreement to submit diamonds for sale, subject to approval by Auction Support.

  2. A dedicated Rapaport Auction Trading Manager reach out to you to help you get set up and started: They will evaluate the type of goods you are looking to supply, most times asking you to submit a list by e-mail. This list should include a description of quality and your bottom reserve price for each lot.

  3. After the evaluation is complete, your account manager will contact you to discuss their findings and walk you through the next steps regarding submission.

Minimum or Maximum Values or Amount to supply

  • For melee, it’s important to keep the value of the lot between $10,000 and $35,000. We keep a minimum value per lot so as not to overwhelm buyers with too many lots to view, and the cap keeps bidders competitive.

  • For single stones, the minimum is 50 points and above. The maximum amount ranges on a case-by-case basis. Suppliers submitting for the first time are held to a maximum value they may submit, which changes depending on their ongoing percentage of sales.

  • Companies that submit for the first time are held to a maximum value they may submit. First time wholesalers should supply with caution, as they generally have higher prices and sometimes do not sell

Delivery and Shipping of diamonds

  • Merchandise approved for submission must be delivered to the designated Rapaport office no later than five business days prior to the auction.

  • Unsold stones can be picked up following the close of auction. Sellers are responsible for all shipping costs.

  • Rapaport fully insures all diamonds on our premises.

Sorting goods before submitting for Auction

Almost all of the suppliers we work with send us their goods practically unsorted. They may do some simple size or quality breakdown before sending in for their own reference. The reason why we recommend doing the sorting is because we understand what goods our buyers need and what assortments they will pay premiums for. There are also other variables that go into the parceling process for our auctions like size of parcels and total value. We are not in the sorting business, however we provide this expert service because it consistently brings much higher per carat premiums than the $1.50 p/ct we charge. Please note, we do not sort -6.5.

Insurance for your auction goods

We request all suppliers to have insurance values on their goods. If prices are high we will contact them and reduce the price. We commonly ask for the lowest price they would sell and use that for insurance. Once we sign and inspect the goods, they are fully insured by Rapaport.

Click here  for additional Supplier information. 

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