Diamond Price Decrease

[pricescope]

Diamond Prices decreased slightly (see trends below)

More food for thoughts: Diamond Traders Protest Drop in Price List

"Diamond traders in Antwerp and Ramat Gan were angered last Friday when they discovered that the Rapaport price list had lowered prices on goods below what they felt was their true value."

"...the traders asked that Rapaport consult with them before announcing such price alterations and urged him to rectify the price changes. Following their demands, Rapaport said he was willing to consider the possibility that the price reduction was a mistake and that he might need to revise prices at their request. "

"This is not the first time that Martin Rapaport has faced an angry reaction from the market. After the terrorist attacks of September 11, 2001, he reduced prices across the board only to bring them right back up following vocal market protest."

 

[strmrdr]

lol
debeers first law never lower prices

 

[Paul-Antwerp]

The change in Rap-pricing, that was refered to in this article, was in the size-range of 0.30 up to 0.89 Cts.

Therefore, the chart which Leonid attached has no connection to the article.

In the meantime, we are more than one week later, and Rap has adapted a high number of these prices upwards again.

And the whole argument of the industry is the following: since January 2004, the Rap-price of these sizes did not change, while overall prices were rising. Since September, there was a standstill in pricing, and they started rising again mid-January, just when Rap decides that it is time to bring these prices down. Understand who can.

Live long,

 

[diagem]

Firstly, I think that Rapaport price list is irelevant to the average consumer, on the contrary it will confuse the ___ out of the consumer..., it is a trade tool only.

No one will be able to put a price list on sought after diamonds, These specific items will price themselves out believe me.

I totaly agree with Paul, the market is very confused right now for numerous reasons, (I will not get into the reasons because it is too confusing and I hope Paul agree''s with me) but all signs show that the prices will continue to show strenght (especialy high quality material and two cts. +).

I am a strong believer that Rap price list is becoming less and less relevant, and that is the reason I believe he lowered a specific range.

It is going to be in my opinion a very interesting year in the industry, a lot is going on, Rapaport is showing confusion, GIA are holding on... (with more to come so I hear), and De Beers are trying their best to adapt to the new situation...

I am certain we will be posting quite a lot this year.... on this interesting subject, but Leonid I fully agree with you that prices of Mid to Lower range diamonds are showing a soft side, but lets face it, that category went up in price too steeply too fast.

 

[Garry H (Cut Nut)]

http://www.idexonline.com/ price tracker shows a number of cooling off prices across many sizes.
click on diamond prices then any of the sizes and shapes in the box below

Rap is stil very relevant in day to day trading at B2B level

 

[diagem]

Garry, you are right, Rap is STILL relevant, but in my opinion he is loosing importance in numerous sections of size and quality.

Do you agree that on well made high quality, larger sizes diamonds there is no softening in price?

 

[Garry H (Cut Nut)]

Date: 2/1/2006 4:07:27 AM
Author: DiaGem
Garry, you are right, Rap is STILL relevant, but in my opinion he is loosing importance in numerous sections of size and quality.

Do you agree that on well made high quality, larger sizes diamonds there is no softening in price?

2-3ct G-D SI1 VS2 seems a little more reasonable
I rarely buy avove VS2

 

[diagem]

Yes that could be the case and i assume you are talking about rounds, but you do know what is going on with VS1 plus and in well made fancy shapes? I assume you do.