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Rapaport drops diamond prices

Discussion in 'RockyTalky' started by Garry H (Cut Nut), Oct 8, 2001.

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  1. Garry H (Cut Nut)
    Super_Ideal_Rock
    Trade

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    by Garry H (Cut Nut) » Oct 8, 2001
    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
     
    


    


  2. mbn
    Shiny_Rock

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    by mbn » Oct 8, 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.
     
  3. Garry H (Cut Nut)
    Super_Ideal_Rock
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    by Garry H (Cut Nut) » Oct 8, 2001
    Its like the stock market baby.
    No gaaurantees any more.
     
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