Discount from Rap

[gray hilsman]

What should be the discount off Rap for a 3.27 G/VS2 Radiant with GIA cert....cut is described as very good.Thanks in advance.

 

[LesleyH]

Hi Gray:

The Raplist and %'s off Rap are usually used in diamond pricing by manufacturers and wholesalers. The list is not usually referred to by consumers, usually because consumers do not have a way of getting their hands on the list, unless they have a "friend in the business". The list is copyrighted.

Searching the diamond database right here on Pricescope will give you a good idea of what you should pay. I ran a search for 3.20 - 3.40 G VS2 Radiant Cuts and got 3 results.

LesleyH
www.whiteflash.com

 

[Rank Amateur]

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On 9/30/2003 12:22:48 AM Furthermore wrote:

Rap discount is trade only, in other words. The first thing a retailer will say is 'Well, you`re not trade, so sorry, no trade discount.' ----------------

For being "trade only" there are an awful lot of stories of vendors using "such and such back of rap" offerings to their consumers. I believe that Rap is high asking RETAIL price, yes? On its face it seems that it is as much a retail as wholesale document.

Having said all that just to stir the pot, as a consumer I would not pay too much attention to percent back of Rap. I wouldn't likely know if 20 back is a good deal or not on any given stone, but I certainly could shop around (with my feet or on Pricescope as Lesley suggested) as see what the market will give.

 

[mike04456]

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On 9/30/2003 5:14:46 PM Rank Amateur wrote:











For being 'trade only' there are an awful lot of stories of vendors using 'such and such back of rap' offerings to their consumers. I believe that Rap is high asking RETAIL price, yes?

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No. Rap is intended to reflect trade prices. They sometimes approach retail prices in the discount outfits because they are defined as "high cash New York asking price," i.e., about as high as it gets in the trade. Rap itself notes that the average trade discount is about 25% back.

It gets used in retail sales because someone who has paid 50% back for a stone he's selling at 100% markup can pull out the list and say, "Look, I'm giving this to you at cost!" Reputable jewelers won't do this because they know it's highly deceptive.