Subscribe to Rapnet???

[AndyDiamond]

Hi,

Has anyone tried subscribing to Rapnet, searching for their diamond, and buying a diamond directly from one of the wholesalers bypassing the middleman?

 

[oldminer]

If you did it, you might find that it isn't so simple to buy from unknown dealers. They don't know you, you don't know them, they don't trust anyone quickly and neither should you. There are way too many pitfalls to think it could possibly turn out well.

 

[TheGreatTwizz]

It takes quite a bit of circumvention to actually get the Rapnet access. I subscribed to everything else ($250/year), but that doesn't get me actual access to Rapnet; there were just too many hoops to jump through (Rap requires a crapload of paperwork). Your best bet is to find a subscribing jeweler that you trust and work with them over their shoulder on Rapnet. Simply agree to terms ahead of time, or let them earn their keep by working the wholesaler for a bigger discount than listed.

 

[denverappraiser]

Any Rapnet subscriber can get you the information so I presume the point is to find a better price since the retailer isn’t adding any value, correct? If the ‘wholesaler’ was interested in selling things one at a time to the end consumer, that is to say if they wanted to be a retailer, they would be doing just that and wouldn’t be advertising in a restricted venue. In fact, several of them ARE retailers and operate separate retail and wholesale operations. Why? Wholesale customers are repeat regular clients that require little or nothing in the way of support.. Deals take a matter of a minute long conversation on the phone and nothing at all in terms of things like photographs, scans, etc. All of these things are the value add at the retailer and they are hugely competitive with one another. The dropshippers will do it for a matter of a few percent margin and they’re happy to sell you a single stone once.

For those who really want to subscribe it’s easy enough to do. Establish or buy a diamond business and keep it open and creditworthy for a year or three. What you need is credit references that are both recognized by the Rap group and who will say nice things about you when they get called. Assuming you pass this, the next step is to fill out a form and send them $500. If you don’t have howls of protest from any of the other members, you’re in within a month or two. That's all there is to it. As David points out above, this is NOT a guarantee that anyone will actually sell you something. This just gets you the data feed. The dealers are going to decide on their own if they want to be partners with you and that will be based on your style of business as well as theirs. Some may, others won’t. Usually within the first decade you’ll be set with most of the ones you’re interested in (you may not want to work with some of them either).

 

[TheGreatTwizz]

Any Rapnet subscriber can get you the information so I presume the point is to find a better price since the retailer isn’t adding any value, correct? If the ‘wholesaler’ was interested in selling things one at a time to the end consumer, that is to say if they wanted to be a retailer, they would be doing just that and wouldn’t be advertising in a restricted venue. In fact, several of them ARE retailers and operate separate retail and wholesale operations. Why? Wholesale customers are repeat regular clients that require little or nothing in the way of support.. Deals take a matter of a minute long conversation on the phone and nothing at all in terms of things like photographs, scans, etc. All of these things are the value add at the retailer and they are hugely competitive with one another. The dropshippers will do it for a matter of a few percent margin and they’re happy to sell you a single stone once.

For those who really want to subscribe it’s easy enough to do. Establish or buy a diamond business and keep it open and creditworthy for a year or three. What you need is credit references that are both recognized by the Rap group and who will say nice things about you when they get called. Assuming you pass this, the next step is to fill out a form and send them $500. If you don’t have howls of protest from any of the other members, you’re in within a month or two. That's all there is to it. As David points out above, this is NOT a guarantee that anyone will actually sell you something. This just gets you the data feed. The dealers are going to decide on their own if they want to be partners with you and that will be based on your style of business as well as theirs. Some may, others won’t. Usually within the first decade you’ll be set with most of the ones you’re interested in (you may want to work with some of them either).

And let me add that a NUMBER of sellers on RapNet simply aren't that interested in doing business with anyone. I'm working with a WELL established merchant who had to jump through hoops with a wholesaler to bring a stone in. I felt bad as I rejected it next to his in-house.