Rapaport auction set for Thursday

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Rapaport auction set for Thursday

January 30, 2008

New York—The next Rapaport Certified Diamond Auction, the latest in a series launched by Rapaport Chairman Martin Rapaport, will take place on Thursday.

This time, however, Rapaport has announced that the auction will be switched to a tender format, in which all bidding is confidential.

A total of 40 lots are up for grabs, and the specifications on the diamonds are 1.01 carats and up, D-K color, IF-VS2 clarity and graded "excellent" to "very good."

Rapaport held the first auction in September 2007, in an effort to create a futures market for diamonds.

In addition, Rapaport announced that the annual Rapaport Breakfast and Conference Program at JCK-Las Vegas is scheduled for June 2 at the Venetian Hotel.

During the breakfast, Rapaport will deliver his "State of the Diamond Industry" address. The Bankers and Fair Trade Jewelry conferences will follow.

"This year's annual Rapaport Breakfast and Conference is especially important as the diamond and jewelry industry confronts volatile market conditions and the globalization of demand," Rapaport said in a statement. "We will share valuable information and analysis that will help firms compete and prosper. We are pleased to present our third annual Fair Trade Jewelry Conference, which will promote industry action that will improve the lives of artisanal diggers, who are among the poorest people in the world."

These events are open to all show participants on a first-come, first-served basis.

For reservations, e-mail conference@diamonds.net or call (702) 893-9400.

Also, in September, the Rapaport Group will hold its annual Rapaport International Diamond Conference (IDC).

The theme of this year's conference, scheduled for Sept. 8 at the Waldorf-Astoria Hotel in New York City, will be "Diamonds 2010—The Next Decade."

Speakers will discuss economic, political and demographic factors globalizing diamond demand and their impact on diamond prices. A special presentation will be made honoring the 30th anniversary of the Rapaport Diamond Report.

Proceeds from the IDC will benefit Jewelers for Children and the newly founded Fair Trade Diamond and Jewelry Association.

For more information about the IDC, e-mail IDC@diamonds.net.

Editor's note: For earlier developments in this story, see Less than half of lots move at Rapaport auction.

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