The Rapaport Melee Index (RMI) for small diamonds rebounded 14% to 140.72 in the first quarter of 2012. While prices have returned to March 2011 levels, they remain below the June 2011 RMI of 153.73, Rapaport stated in press release.
Rapaport’s March Melee Diamond Auction sold 58,000 carats for $8.25 million. Record high prices were achieved in specific categories with strong demand from U.S. and Indian buyers supporting sales.
“We are seeing a strong rebound in prices for commercial quality melee and higher levels of liquidity after a slow second half of 2011. Traders have returned to the market bringing market prices back to levels reached last year. We are excited to have achieved record high prices in certain categories, exceeding sellers’ expectations. Rapaport Auctions continue to attract hundreds of the strongest international buyers while providing the second hand market with a competitive platform to achieve fair market value for their recycled diamonds.” said Ezi Rapaport, Director of Global Trading Operations.
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