Ever since Rapaport released the most recent Rapaport Diamond Report there has been much confusion on which version of Rap to use. A large portion of diamond suppliers have boycotted the newest Rap List and went even further by delisting their inventory from Rapnet to establish/support a new Diamond Trading Network (GET-DIAMONDS).
Get Diamonds doesn’t use a Diamond Trading List, rather it gives the suppliers autonomy to list their diamond(s) by Price per Carat. The industry will compete strictly based on total dollar value, not a “discount.” Yet when I login to my respective suppliers’ websites, I notice they are still using the Rapaport Diamond Prices as a guide. Some suppliers are using the previous version while others are using the newest version. If you are listing your diamonds on Rapnet still, you are selling your diamonds using the most recent version. This creates too much confusion in the marketplace. These suppliers have delisted their inventories from Rapnet, yet continue to use the “old” Rap list. Now when I walk into a diamond dealers office and receive a quote on a diamond of “X% Off Rap” I need to guess as to what version of the Rap they are using? I DON’T GIVE A RAP which version you’re using, just give me the total price! Why use a list from the very company you are boycotting, regardless of the version. If you’re truly fighting this system, get rid of it all together.
All Diamond Suppliers that have decided to use an “old list” or delist their goods from Rapnet should simply stop using the list altogether.
-Anonymous