How is this possible?

[vero143]

I am very confused, a local jeweler was getting a diamond for me, he gave me specs and I then decided to pricescope it, I got 5 matches - ALL the same diamond (I looked @ certs -same cert#) ( although I did not get the cert from my local jeweler its the exact same dimensions, and about $2000 which leads me to believe its also the same stone)

How can jewelers online do this, who really has the diamond?

 

[Regular Guy]

Vero,

This article, courtesy of "denver appraiser," should help to answer.

Regards,

 

[vero143]

Thanks... is that the ''Rapnet" site? I was @ another store and they were looking through that inventory for me...

 

[belle]

vero,
the article that rg linked you to is not the 'rapnet' site. it is the ps jounal, a place where industry experts submit their work for people to read and learn things about the diamond industry. if you want to know why a stone is listed by multiple vendors, you should take some time and read the article.

 

[vero143]

Belle, thanks for your response, since you seem to have some insight, I''ll explain myself more clearly and maybe you can respond, I read the article, it references buying stones by memorandum, wholesalers owning the stone and letting jewelers borrow them - So my question is: is this "memo system" = the Rap net site?

 

[denverappraiser]

Rapnet is a listing of stones very much like the Pricescope database. It is made available to all subscribers to The Rappaport Diamond Report, most of whom are dealers. In general, the stones are offered on memorandum to dealers who would like to show them to their clients but this offer may or may not be extended by the seller depending on the creditworthiness of the buyer and other variables. Each stone is being sold by an individual dealer and to an individual buyer and they can set whatever terms they wish, Rapaport is not involved in any way other than advertising. Rapnet has several competitors in this 'business to business" advertising venture. Like most of what he gets involved in, Mr. Rapaport is pretty good at it and offers a fine service.

Whoever is selling the stone that you've located has placed advertisements in several places, including Rapnet. The various people who are offering it to you may have spotted it there or any of several other places. Since none of them have actual posession of the stone, it doesn't really make much difference where they got the data.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[belle]

i'm sorry vero, in my previous post i thought you were referring to the journal article as the rapnet site without reading it. i hope your question was answered sufficiently.

 

[Regular Guy]

For my money, use info you can use (as rapnet is typically reserved for licensed vendors; my guess is this is a custom...memoing... wholesalers will use, whether or not they are listed with rapnet). The link below my signature references two databases, one of which employs the same practice, available to you here on this site (or here), and the other which is generally found to be even more helpful, where the vendor you're dealing with has most typically not only actually seen the stone you'd be considering, but has it in their possession, and has evaluated it on your behalf.

Regards, still,