RapNet: Polished Diamond Prices Rise in Nov., Others Disagree

09/12/2015 23:18

Martin Rapaport says that according to their RAPI system, the price of polished diamonds rose in November. “This is the first time in six months that there has been an increase in the benchmark 1-carat RAPI index and 17 months since the last increase in 30 pointers. The worst may be over for declining polished prices," says Rapaport. The announcement states, "The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.7% in November, its first increase in six months. RAPI for 0.30-carat diamonds advanced 3.3% and RAPI for 0.50-carat diamonds grew 1.1%. RAPI for 3-carat diamonds fell 0.6%. RAPI for 1-carat diamonds remains down 7.1% since the beginning of the year." Nevertheless, Rapaport says that, "Market sentiment is weak despite the November uptrend."

Other benchmark systems, however, claim otherwise about polished prices. IDEX Online claims that "polished prices continued their decline in November on a month-on-month basis, with prices sliding 2.3% from their October price." IDEX also states that, "In November, 0.5-carat goods continue to see significant price drops, falling 15.5% year-over-year." The polishedprices index, according to its weekly updates, also indicates little positive movement. It does appear to confirm RapNet's slight uptick in 1ct. goods, but tells a different story for .30-ct goods. The variety of pricing systems makes it difficult to obtain a unanimous conclusion.