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Rappaport Prices Vs James Allen?

Gus Boy

Rough_Rock
Joined
May 19, 2020
Messages
3
Hi!

I am about to pay rappaport membership. I want to start a jewelry to sell engagement rings, so I want to find diamonds at good printing to be competitive.

Right now I have been using James Allen and Briliant Earth to get diamonds.

But is it worth it 60 dls a month? How much is the difference in pricing against JA?

Thanks!
 
Last edited:

lovedogs

Super_Ideal_Rock
Premium
Joined
Jul 31, 2014
Messages
18,031
I am not sure what you are asking. Are you looking to buy a diamond for an engagement ring?
 

Gus Boy

Rough_Rock
Joined
May 19, 2020
Messages
3
I am not sure what you are asking. Are you looking to buy a diamond for an engagement ring?
I am not sure what you are asking. Are you looking to buy a diamond for an engagement ring?

I want to make a jewelry for making engagement rings, so I want to find diamonds at good pricing to be able to get into the business.
 

Gus Boy

Rough_Rock
Joined
May 19, 2020
Messages
3
I don’t think this is how you do that. What country are you in?

In Mexico, but close to the border with the USA. If not where can I find diamonds?
 

lovedogs

Super_Ideal_Rock
Premium
Joined
Jul 31, 2014
Messages
18,031
I don’t think this is how you do that. What country are you in?

I agree--that isn't the way to go about starting a business (to my knowledge). Unfortunately I don't know how individuals in the trade buy diamonds as this forum is largely for consumers.
 

marrduk24

Shiny_Rock
Joined
Nov 30, 2020
Messages
148
I am not an expert but will give you some more info
1. Rappaport on a monthly basis publishes a report for diamond prices. Diamonds are sold based on a discount relative to these prices. It’s called “back”.

2. Rapnet, part of Rappaport family, is a wholesale diamond exchange. Various dealers, brokers, manufacturers list their diamonds on Rapnet. Rapnet doesn’t have any inventory of their own. To be able to search these, you need to be in trade and a member of Rapnet

3. Even if you are a member of Rapnet, you won’t be able to get same credit terms from these sellers as established buyers do. Eg no one will send you a diamond on memo. Memo is when established buyers request the diamond from the seller for inspection.

4. What I have heard is JA has relatively thin margin vs Rapnet prices. In the 5% to 10% range.

Hope this helps.
 

lovedogs

Super_Ideal_Rock
Premium
Joined
Jul 31, 2014
Messages
18,031
I am not an expert but will give you some more info
1. Rappaport on a monthly basis publishes a report for diamond prices. Diamonds are sold based on a discount relative to these prices. It’s called “back”.

2. Rapnet, part of Rappaport family, is a wholesale diamond exchange. Various dealers, brokers, manufacturers list their diamonds on Rapnet. Rapnet doesn’t have any inventory of their own. To be able to search these, you need to be in trade and a member of Rapnet

3. Even if you are a member of Rapnet, you won’t be able to get same credit terms from these sellers as established buyers do. Eg no one will send you a diamond on memo. Memo is when established buyers request the diamond from the seller for inspection.

4. What I have heard is JA has relatively thin margin vs Rapnet prices. In the 5% to 10% range.


Hope this helps.

I've heard they have a thin margin as well, but certainly OP won't be able to buy a diamond from JA and then sell at a profit. That's just a recipe for disaster.
 

Rockdiamond

Ideal_Rock
Trade
Joined
Jan 7, 2009
Messages
9,711
Hi all!!
In my experience: To join Rapnet, someone would need to provide ( substantial) references to prove that they are indeed a diamond dealer.

3. Even if you are a member of Rapnet, you won’t be able to get same credit terms from these sellers as established buyers do. Eg no one will send you a diamond on memo. Memo is when established buyers request the diamond from the seller for inspection.

THIS- in fact, I've seen countless internet diamond listings where the site offering a given diamond has no hope of ever obtaining it. Generally, listings where a price is suspiciously low. It goes beyond credit- some of the largest dealers won't even sell to someone they don't know for any reason.

In terms of specific margins above rap prices.....it's truly not possible to say specifically what any given seller is charging- it can really depend on many factors, that isn't the same for each stone- or each seller.


Best of luck @Gus Boy
It's a tough business!!!
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
9,150
Rapaport offers a pretty good magazine but it’s a little pricey, and Rapnet lists lots of diamonds for sale, but I doubt this will help. Dealers who list stones on Rapnet won’t sell to people they don’t know, especially people outside of the US. NO, I don’t think you should subscribe, even if Rap will take your money.

There’s no one way to build trust, but that’s what we’re talking about. Fundamentally, suppliers are looking for dealers who can successfully sell for them. If that’s you, there’s a path. If you’ve successfully been buying from JA, keep good records to show what you’ve been doing and be prepared to make a case for why they should sell to you. If you’ve sold more than a dozen or two stones that way, you’ll get some attention. If you've only sold one, forget it. There are dealers everywhere but if LA isn’t too far away, look on Hill street and see what you can find. You’re looking for vendors, not specifically stones.

Line up all the dealer licenses and such, be prepared to pay in full up front, and find contacts through some of the trade magazines like Jeweler’s Circular Keystone or National Jeweler. They all carry advertising. If there’s a Mexican jeweler magazine, get it. You could do worse than ringing them up on the phone or dropping them an email.

Good luck. It’s a tough way to make a buck but, if you’re good at it, it is possible.
 
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