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 Rapaport drops diamond prices
P:  10/5/2001 11:24:00 AM  
Garry H (Cut Nut)
Garry H (Cut Nut)

Ideal Rock
Total Posts: 11,577
Last Post: 11/22/2009
Member Since: 8/16/2000
 
 		Biz confidence and the cutting loose of De Beers from its traditional constraint of supply to support diamond prices has had the inevitable result.
Martin Rapaport has chosen to drop prices on the Rap list - it seems across the board.
The changes are small in the most easily traded areas. In the 1% to 3% range. Rarely with very low clarity goods I3's have fallen from say 600 to 500 = 16.7% - but this is because these are listed as whole hundreds as 6 becomes 5. (Rap lists in round hundreds).
.
I have seen this type of effect where I have been able to buy at a few points further back lately - just a fact of life.
.
So now diamonds are going to go up and down in value like other commodities, just as Martin said they would at a conference at JCK in June 15 months ago.
.
People might now understand the custodial role that De Beers played for so many years.
.
Most falls are a rounded $100 per carat.
Garry Holloway
Garry Holloway FGAA DipDT

HCA and Ideal-scope developer

http://www.ideal-scope.com and
http://www.HollowayDiamonds.com.au
Posted:  10/5/2001 11:24:00 AM

 There are 2 replies to this message.  There are 2 replies on this page.
P: 10/8/2001 11:15:00 AM
mbn
mbn

Cut Rock
Total Posts: 212
Last Post: 7/18/2003
Member Since: 9/9/2001
 
 		So instead of diamond prices going up 5% each year, I can expect it to go down?

This is great, so I can take my time with a purchase thinking that if I don't buy this year, next year prices will go up.

Posted:  10/8/2001 11:15:00 AM
P: 10/8/2001 11:51:00 AM
Garry H (Cut Nut)
Garry H (Cut Nut)

Ideal Rock
Total Posts: 11,577
Last Post: 11/22/2009
Member Since: 8/16/2000
 
 		Its like the stock market baby.
No gaaurantees any more.

Garry Holloway FGAA DipDT

HCA and Ideal-scope developer

http://www.ideal-scope.com and
http://www.HollowayDiamonds.com.au

Posted:  10/8/2001 11:51:00 AM

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