Traps with Raps

Suppose a jeweler shows you a “Rap” sheet and says “this is the secret industry bible and I will sell you this diamond for 10% below the prices on it!” Shop hard enough, especially on 47th street in the Big Apple and it will probably happen to you.

The Rapaport Diamond Report and The Diamond Price Report are trade price market analysis and indicator tools of HIGH CASH ASKING PRICES. Price reports do not factor in higher prices for better proportions and finish or lower prices for poor proportions / cut, etc.

Price lists are designed for diamond industry professionals. Would you expect to be able to use say a doctor or a pharmacist’s professional tools? So remember if you want to use these lists, or do a deal with a jeweler based on the pricing info in them then be prepared to be ripped off.

Most stores who claim to sell “at or below Rap” or “10% Under New York Wholesale” are simply offering poor ‘makes’ or dogs that the regular trade can’t move. Also watch out the vendor who misrepresents the quality of an uncertified diamond. Keep in mind that certified diamonds always cost more than uncertified diamonds, although there are many reputable and trustworthy jewelers who also deal in uncertified diamonds.

Let’s give you an example.

  Diamond #1 Diamond #2
Shape Round Round
Carat 1.0 1.0
Color G G
Clarity SI1 SI1
Report GIA GIA
Measurements 6.45-6.47×3.95 6.17-6.25×4.11
Depth 61.1% 66.2%
Table 56% 58%
Girdle thin – medium very thin – very thick
Fluorescence None Very Strong

So you see what can go on? To a sucker these two diamonds are pretty close to the same. But one is beautiful and looks fantastic and the other is a shocker.

If you think the deal is too good, then it probably is!


Using Rap and Rapnetrght.gif

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