Rapaport said that for its auction scheduled for today, it will offer six lots of 39 with no reserves. It felt that by offering lots with no reserve, buyers will gain a free hand in setting prices, which would help develop a futures market for the diamond industry.%%According to Rapaport, all the diamonds within the 39 lots are 1-carat or larger, D-G color, of IF-VS2 clarity, and GIA-gradation as Excellent to Very Good. The diamonds are guaranteed by Rapaport. The six lots in particular, contain 1-carat diamonds of ace quality.