This blog article will explain to you what is the rapaport diamond price list and will review different aspects of it.
These are some of the main topics of this article
- The Rapaport diamond report of 2023
- Other diamond wholesalers price lists
- Fancy colour diamond price list
How it all began
The Rapaport diamond report, often referred to today as the Rapnet diamond index, was originally created and still maintained by Martin Rapaport, a trader in the diamond industry way back in 1978. The idea was to standardise a price system for white natural diamonds.
The method chosen was to categorise the white diamonds by two main lists – Round diamonds and all other shapes. Each list is divided by categories of weight, colour and clarity. And in that matrix box there is an average price for the specific goods per carat. The prices in this diamond price list is determined by Rapaport according to supply and demand although the exact algorithm is unknown to the traders.
Every week, on friday, the new price list is published. Many times without change. Although the rapaport diamond weekly reports of 2023 changed quite often.
Where can I see the rapaport diamond report of 2023?
You probably cannot since The Rapaport Price List is not freely available. Access is mainly restricted to subscribers who are part of the diamond trade, which includes a subscription fee. These traders are not allowed to distribute the list and in theory can be sued if doing so.
We can freely disclose, as it is not a secret, that In general 2023 was a rough year for the diamond trade as many of the goods on the diamond price list went down significantly so people holding a stock suffered a huge loss. So, this is actually a good time to buy diamonds or trade-in old diamonds.
Why should I care about the Rapaport Price Index?
The Rapaport Price index is extremely influential. It’s used internationally by thousands and thousands of jewellers, traders, and even consumers to understand the market value of diamonds. It is safe to say that the majority of diamond professionals use it in price negotiation, pricing and understanding market trends.
Are there any Other diamond wholesalers price lists?
During the 50 or so years that the Rapaport diamond price list exists, there have been and still are attempts to produce alternative price lists. This might derive from the frequent criticism the Rapaport diamond report often gets.
Some of the main criticism is that It doesn’t take into account all factors that can affect a diamond’s value. For example the diamonds cut, polish and symmetry, its fluorescence and more. Many criticise the determination process itself as it is not public. These are just some of the criticisms points, some are more hypothetical and can be researched online if this matter interests you in depth.
Fancy colour diamond price list
A few weeks back a friend asked me about the price list for yellow diamonds and was surprised to learn that there is no Rapaport diamond list for colour diamonds known as fancy diamonds. The trade of fancy diamonds is very wild since the value of coloured diamonds can vary significantly and in the last decade tends to soar.
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