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Auction Tender Will Close on June 20^th in Bahrain

In a historic move, Rapaport will launch the first-ever Natural Pearl Auction in Bahrain on June 20^th. Most of the pearls will be supplied directly from Bahraini divers who operate under strict government supervision to ensure protection of the natural habitat and environmental sustainability. DANAT the Bahrain Institute of Pearls and Gemstones has been instrumental in collecting, grading and certifying the pearls. Only natural pearls will be offered for sale, and all will be certified as natural by DANAT.

Natural pearls are one of the rarest gifts of nature - so rare that until now no one has been able to offer them for sale on a regular basis. Bahrain has produced natural pearls for centuries as it is blessed with sea-beds fed by fresh water, an ideal setting for natural pearl growth.

“Rapaport in an exclusive relationship with DANAT the Bahrain Institute of Pearls and Gemstones is creating a new market for certified natural pearls that are environmentally and socially responsible. We are delighted to have this opportunity to offer natural pearls direct from the divers of Bahrain to the jewelry trade,” said Martin Rapaport, Chairman of the Rapaport Group.

“We look forward to developing the natural pearl market with the international Rapaport Group. This new initiative will provide Bahraini divers with direct access to the global jewelry industry,” said Noora Jamsheer, CEO of DANAT.

About the Rapaport Group: The Rapaport Group is an international network of companies providing added-value services that support the development of ethical, transparent, competitive, and efficient diamond and jewelry markets. Established in 1976, the group has more than 20,000 clients in over 121 countries. Group activities include Rapaport Information Services, providing the Rapaport benchmark Diamond Price List, as well as news, analysis, and research; RapNet, the world’s largest diamond trading network with daily listing of over 1.7 million diamonds valued at more than $8 Billion; and Rapaport Trading and Auction Services, the world’s largest recycler of diamonds. Additional information is available at rapaport.com.

About DANAT: The Bahrain Institute for Pearls and Gemstones (DANAT) is a world-class gemological laboratory, education, and research center, specializing in the testing and study of natural pearls as a reflection of Bahrain’s ancient pearling history and desire to protect and advance Bahrain’s pearling heritage. DANAT’s expert team of gemmologists supports clients and students from around the world through pearl, gemstone, and diamond identification and education services, DANAT was established in 2017 as a wholly owned subsidiary of the Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230518005714/en/