The Rapaport Diamond Price List is the jewelry industry standard for diamond pricing. Jewelers use it as a guideline when determining diamond prices. It is produced weekly and is available only to subscribers (roughly $180-$250/year at the time of this article).
The Rapaport Price List is produced only for round and pear-shaped stones. However, the Pear Shape Price List is often used for other fancy-shaped stones (non-round). In these instances, special attention must be paid to the cut of the stone when pricing diamonds on the Rapaport Diamond Price List.
How to Read the Rapaport Diamond Price List
The Rapaport Diamond Price List is presented in a series of tables organized by carat, color, and clarity. (practice sheet below)
The first step is to find the carat that’s to be priced. Each table has its own carat range; for example, from 0.38 to 0.45 carats, or from 0.46 to 0.49 carats, or in our example 0.50 – 0.65 carats.
Each table has a horizontal row listing colors from D to M, and a vertical column listing clarities from IF to I3. By cross-matching the correct color and clarity, the price is determined.
The price is given per carat, by hundreds of dollars. That means that after landing on, for example, the number 28 on the table, the price of the diamond per carat is $2800. If the stone is priced is 0.55 carats, you take (28 multiple by 100 since it is in hundreds). This gives you $2800 per carat.
To get the diamond value you multiply the per carat value by the diamond weight (in our case 0.55). So $2800 x 0.55 = gives us a final price of $1,540.
How It Affects Buyers
The Rapaport Price List is a starting point for jewelers to use when determining the price of a stone. A jeweler will often sell a diamond as compared to the Rapaport price. Usually, this is a discounted rate. The amount of the discount depends on whether there are any flaws in the stone, and what the market conditions are.
The price list is based on a well-cut stone that meets certain specifications. This means to cut the stone will have a significant impact on its final price. Similarly, the pricing is based on stones that do not have medium or strong fluorescence. A poorly-cut or fluorescent diamond would likely be given a highly discounted price.
There are occasions when stones are sold at the Rapaport price, or even at a premium. This usually only happens with large, fine-cut diamonds, or diamonds with rare size-quality combinations.
The Downside of Rapaport
Unless you are in the jewelry industry and have access to the price list, you very seldom can get access to it. Sometimes jewelry stores will not show you the Rapaport sheet if they don’t have access to it, or want to keep you in the blind zone.
This makes a nearly $200 a year purchase to access the price list expensive for regular consumers looking for a one-time diamond purchase. For this reason, FindMyRock provides Free Diamond Price List for diamonds less than 1 Ct. You can view the most recent price list here absolutely FREE!
This article was contributed by Frank Fisher.