RapCash™ is a new Rapaport service designed to provide liquidity to those wishing to sell diamonds and jewelry. The big idea behind RapCash is to get fair market prices for sellers by offering their diamonds and jewelry to multiple buyers. Competition will then drive up the price so that it’s fair to sellers. Our Rapaport Tender Auction process notifies sellers of the highest bid price and they can then decide whether-or-not to sell.
The key driving force behind fair market prices is competition. This works for buyers as well as sellers because the buyers are the ones setting the prices they are willing to pay. Buyers have great opportunities to purchase from motivated sellers they just have to make sure the prices they offer are fairly competitive.