online database to search for GIA diamonds wholesale prices?

[coolmanfever]

Hello all,

I am wondering is there a database online that the public can access and search for GIA certified diamonds wholesale prices? I would like this information to compare with my local vendor and online vendors. I know price scope has a database that allow us to search for prices every vendors are selling but I want to know the wholesale price of the diamond I am interested in. wondering if it's possible to do so. Thank you so much.

 

[LLJsmom]

Re: online database to search for GIA diamonds wholesale pri

There is no wholesale diamond price database. Sorry.

 

[ChristineRose]

Re: online database to search for GIA diamonds wholesale pri

The closest thing is the Rapaport Report, which is not free and not online.

Rap does not actually show wholesale prices though, because it doesn't include enough parameters to characterize every stone (even though it has a lot of parameters). Rap does not distinguish between Hearts & Arrows and poor cuts. Dealers use Rap to price a stone, but that's because they know that a particular stone should trade at "10% below Rap" or "150% of Rap."

 

[Rockdiamond]

Re: online database to search for GIA diamonds wholesale pri

Hi All
Actually Rapnet is wholesale only database of millions of diamonds. It includes pretty much all the data on a GIA report for most stones. But one needs to be in the trade to join the site and have access to it.
There's also a list - known as the Rap Sheet- which is a price guide. Also intended for those in the trade.

 

[gm89uk]

Re: online database to search for GIA diamonds wholesale pri

Why is it important that Rap-net is maintained as a trade only accessible list?

 

[AdaBeta27]

Re: online database to search for GIA diamonds wholesale pri

In the past, on Pricescope, it was believed that many Internet vendors had about a 15% markup. Signature lines, the best-cut stones, and the in-house stones sold by vendors who provide additional testing and data online and/or more personal service with the sale, all have a higher markup. "Virtual stones" that are drop-shipped from the cutter or wholesaler through Blue Nile or some other vendor who does no value-added services are lower priced because they haven't been as thoroughly vetted and they also might be lesser diamonds that PS vendors would not pick to be their in-house best diamonds. Wholesale prices are wholesale to the trade. Prior to the Internet sales of diamonds, I used to know some small business owners who claimed to be buying "wholesale" or "wholesale plus maybe 10% markup" from local jeweler friends. But that was when brick & mortar stores ruled and had maybe a 50% markup or better on diamonds. The public can't buy wholesale.

 

[Paul-Antwerp]

Re: online database to search for GIA diamonds wholesale pri

As a cutter, and technically (after cutting and going into the sales-process) a wholesaler, I do not understand the nature of the problem.

Yes, indeed, wholesale-prices are lower than retail-prices to consumers. Nobody will deny that. And where some consumers are interested in obtaining wholesale-pricing on their purchase, there are definitely also wholesalers who are looking to get retail-pricing for their product.

In my opinion, neither is going to be successful, because one needs to understand the added-value which goes together with the retail-margin.

For instance, from my side, I see no consumers knocking on our door, willing to purchase a number of diamonds in one go, guaranteeing a long-term-relationship, where such purchases will continue for a number of years to come.

From the other side, some wholesalers are not appreciating the organization and effort (in short, cost) attached to selling an individual diamond.

Just my 2 cents.

Live long,

 

[Rockdiamond]

Re: online database to search for GIA diamonds wholesale pri

Why is it important that Rap-net is maintained as a trade only accessible list?

To expand on Paul's answer: although there's strong efforts to erase the lines between wholesale and retail, the fact is that they are two totally different skill sets.
The best wholesale sellers have no patience for what it takes to be a retail seller- they simply can't afford to.

The very best retail sources invest more heavily in inventory and customer service. Such sellers provide a far richer customer experience, and better products overall.
The retail sellers attempting to blur the lines between retail and wholesale do offer lower prices- along with a commensurate lessening of service, quality and other benefits offered by the more compete service oriented sellers.

 

[denverappraiser]

Re: online database to search for GIA diamonds wholesale pri

Why is it important that Rap-net is maintained as a trade only accessible list?

Rapnet is an advertising venue. That’s importantly different from what you were originally asking. A stone being listed there does NOT mean that the seller is agreeing to sell it to anyone who calls. Not even any dealer. That’s a matter of establishing a relationship. In the end, Rap isn’t the seller, the dealer is.

The REASON dealers list in a private venue like that is precisely because they don’t want to be dealing with the public. The public is a pain. By selling to dealers and letting their customers do that part, they make their lives easier and consequently make more money. If they wanted to sell directly, they’re welcome to, and there are plenty of ways to advertise it. Some do. Given all of that, of course they don’t want it public. Would you? They don’t want their names out there, they don’t want their inventories out there, they don’t want their prices out there. So why does Rap make access difficult? Because their customers like it that way, and that's who pays Rapnet.

A more important issue comes directly from why you care. Presumably, you want to use it to beat up the dealers by having some insider knowledge about their nominal costs. That’s not the way it works, even if you had access to it. A FAR better way to drive down dealer prices is to find real offers of real stones from real dealers (like the advertisers here or the store across the street) and then use that to pound on their competitors. The nominal cost is irrelevant. The Rapaport price sheet is especially bad as a consumer tool by the way. Actual prices can vary by as much as 50% or more depending on details that aren’t in the tables.