need help w/ rappaport

[elmo65]

I am still having trouble understanding the significance of the rap sheet-
Is it supposed to represent the fair retail price of the given color, cut and clarity? If I have a jewelry store offering a certified excellent cut stone and give me the rap price for it, is it a "good deal"? (assuming all qualities of the stone are certified) Are internet dealers any better a deal? I was in a jewelry store that offered me what I would think I would be offered in internet pricing only... Any advice?

 

[denverappraiser]

The Rap sheet is an interesting product.

The prices listed are stated to be high New York wholesale asking prices for well cut stones. It gets complicated when you start to ask “How high?”, “What’s wholesale?, “What does well cut mean?” and similar sticky questions. It’s useful for dealers who have a good understanding of the market conditions but a stand-alone sheet doesn’t really tell you very much without being able to interpret it. It’s kind of like reading the Wall Street Journal and asking which stocks are a good deal.

On the front page of Pricescope you will find a link to ‘Advanced Tutorial’ that contains some good information about how to shop wisely. You may find it helpful.

I’m a strong supporter of local stores that can stand up to the competitive pressure from the internet-only dealers. It’s a difficult challenge but it is possible. There are lots of internet dealers here that will be happy to discuss with you what is available online. Talk to the local and see what he has to offer. If you local store can earn your business, go with them. If not, go somewhere else.

Neil Beaty, GG
American Gem Registry
www.gemlab.us

 

[mdx]

Hi elmo65
The advise from denverappraiser is pretty sound. The Rap-list is not a pricelist and is often not understood even by jewelers. One of the problems a consumer can face when quoted a rap price is at certain points, the bigger the discount quoted the lower the quality or desirability.

Johan

 

[pricescope]

Bonus links: Rapaport Price List History, RAP Diamond Prices.

 

[oldminer]

We think we know what we are doing when it comes to diamonds, but we make mistakes sometimes by thinking improperly about the "price" on a Rap sheet. Those "prices" are really interrelated "random numbers" which have only a hint of fact behind them. They are a dealer's code, not giving a great deal of insight into any sort of exact pricing.

There are so many variables that color, clarity, shape and weight, only touch the surface of why any single diamond is a certain price or value. The consumer can examine a Rap sheet, but they will learn very little important from it.
To think it is a useful tool without extensive other knowledge would be a huge mistake.

 

[Iceman]

Some jewelers use it as a selling tool to confuse the customer.

As a consumer there is enough information on the internet to show you what is bottom dollar or asking price.