The first model of a diamond futures market functioning on monthly transaction prices would be demonstrated through Rapaport Guaranteed and Certified Diamond Auction between September 17-20. The auction has been organised by Rapaport.

Rapaport intends to build transparency in diamond pricing and create transaction price benchmarks for certified diamonds.
The diamond variety at the auction includes 1-carat round diamonds and larger diamonds, all of D-K, IF-VS2, excellent to very good selection, and will be authenticated by a Gemological Institute of America (GIA) report.The diamonds auctioned in the four days in New York, will also be auctioned on the internet with defined payment terms of spot cash a Free on Board in New York and 3% seller’s fee.