Rapaport Statement Responds To Price List Criticism

Finance and Trade
08/07/2015 09:19

In a "Statement Regarding Diamond Specifications and the Rapaport Price List" Rapaport responds to recent criticism from the industry. The statement says "The Rapaport Price List provides benchmark prices based on the opinion of the Rapaport price analysis team, headed by Martin Rapaport. Such opinion incorporates analysis of data related to market prices and trends; geographic, product and company market reports; communications with firms and individuals active in the diamond and jewelry trade and additional factors. Furthermore the release states the the Rapaport Price List will from now on focus additional attention on bid price levels to enable better price reporting. "We are particularly interested in tracking and communicating bid price levels (i.e. the price at which firms are willing to commit to buy diamonds on a COD basis) for Rapaport Specification A3 or better diamonds. Diamond traders are urged and encouraged to communicate their firm bids to Rapaport".