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What is the Rapaport list?
In the early 1980s, speculation in the market caused the creation of dubious certification offices and unreliable price lists for diamonds. Prices at that time changed daily and an accurate industry-standard price list was urgently needed.
Eventually, after the period of speculation ended, many certificate laboratories and price lists disappeared. Laboratories that did survive included the GIA, HRD, IGI, EGL, and the Chambre de Commerce in Paris. As for price lists, the Price List of Martin Rapaport survived and became recognized as the most dependable source in the industry.
Back then, New York diamond broker Martin Rapaport issued a list of wholesale round diamond prices each Friday based on GIA grading scales. He spread his lists all over the world. Once each month he also issued a price list for fancy cuts.
His success was due to his efficient organizational skills and to his sources of information which accurately portrayed the situation in the international diamond market. Since then, the Rapaport has developed into an international computer information network for diamonds and grown to become the most reliable resource on diamond price listings.
What does the Rapaport List do?
The Rapaport Price List is used by both dealers and buyers as an approximate guideline for evaluating diamond prices. It is basically Rapaport’s opinion of high cash asking prices for diamonds. These prices reflect market consensus clearing prices at which most dealers are willing to sell. Although the prices on the list are often higher than the actual selling prices of dealers, these serve as a good starting point for negotiations.
Which Diamonds does the Rapaport refer to?
The Rapaport Price List reports the values of well-cut and accurately graded diamonds that are commonly sold and traded in the marketplace. To identify the diamonds, GIA grading standards are used for all clarities except SI3.
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