Rob Bates: The Trade Targets Rapaport—Again

Polished
07/07/2015 21:40

Following the repeated criticism on Martin Rapaport's price list, Rob Bates analyzes the critic's arguments to set up alternatives, which they claim will be more stable and leave room for the market to work out discounts and premiums; an Israeli initiative involving a bi-annual price list, and an Indian alternative, which sources claim will list goods without prices. Martin Rapaport however is determined his list provides an adequate image of diamond prices for both sellers and buyers. Bates concludes the debate points out the trade's ambiguous attitude towards transparency, as both Rapaport's list, defined by just one man and near incomprehensible to outsiders, and the proposed alternatives are highly opaque. In the end, Bates believes, the industry most likely will stick to what it knows.