Rapaport question

[reds]

So are the prices on the rapaport report, the amount that a dealer would pay or a guideline for how much we should pay. A little confused. Thanks for clearing this up for me. Reds

 

[Garry H (Cut Nut)]

Sorry, no one will clear this up for you.
It is a dealer price list and anyone with less than years and years of active dealing will get burned if they think they can really know all the subtle variances.

Please all consumers - do not attempt to use Rap lists.
Leonid runs a price stats service here which is real time and relevant to your requirements.

I am not trying to be patronising.
I have staff who buy diamonds for me - I tell them what they need to know. I never tell them more, because one day they might be my competitors.
And I know perhaps 1/2 of what I could or should know.

 

[pricescope]

Garry, you already said enought. Thanks!

 

[trichrome]

Gary,

As I said before, nobody in the trade wants to share the secret
of the Rap or anything related to the price issue because it's a
secret and you don't want your neighbor to open a diamond store...
But believe me, anyone with a big brain will be able to use the Rap
sheet after a couple of months of training on the ground.

Trichrome.

 

[Garry H (Cut Nut)]

Use it yes Trichrome - and you have obviuosly made it an obsession to learn about it.
But the average person will just get burned.
And if you tried to deal in stones, for profit, your fingers would get pretty hot too I suspect

 

[mdx]

Hi Red

Cut Nut is correct, its not something a consumer wants to get into. Think of it more as a communication method between dealers than a price list

Wayne
Melbourne Diamond Exchange Ltd

 

[reds]

Thanks. You answered my question.

 

[trichrome]

Cut,

I have started to do this type of trading for a jeweller I know..
Since I have taken charge of this part of the business, he is
making way more profit on stones (memo or not).

And I have access to Rap legally.

Tri.

 

[trichrome]

CutNut,

I'm using the Rap sheet for business purpose now plus I'm using
all the small knowledge I have on diamonds. I'm now in charge
of the diamond trade section of a jewellery store. Since my beginning
there, profits are going up on stones.

Tri.

 

[Garry H (Cut Nut)]

Tri that is great - sort of like a grafitti artist

turned warehouse decorator

 

[elmo]

If you're comparing superideals at the same weight, even for the most average consumer (with the help of the nice folks here

) I think Rapaport can be very useful. I'd even go as far as to recommend that before someone purchases from the folks you meet around here (wf gog niceice dbof dirt 8* xxx) that the average consumer should get a feel for what is an average discount or premium that the firm charges for its superideals, then factor that into a decision about how much value each vendor's customer service is adding.




Also, it has been said that when negotiating, the consumer needs a good or valid reason when asking for a discount. Although I agree it is dicey for an average consumer to use Rap in a negotiation even when cut quality is removed from the equation like this, I think that this potentially gives a very good reason.




p.s. I like Leonid's pages on this, they have helped me in the past. But for the 1A/1B/etc. breakdown I'm not sure there's been enough data for the numbers to be statistically useful.