How to Use Rapaport Diamond Report

Learn how diamond dealers use the Rapaport wholesale price list to know a good deal on a diamond.

Warning:

It is not possible to use the Rapaport price list to assess diamond prices accurately -- until you also consider and adjust for all 13 of the major details on a laboratory certificate.
This is where you ask a good dealer for a little help. There is no way to get ahold of a copy of the Rapaport price list except by asking a dealer to show you.

Even better than trying to access the Rapaport price charts, and adjusting for many factors, is to follow our Diamond Pricing Tutorial, which gives a step-by-step lesson on how to use the huge online databases to find competitive prices. This is far more accurate, useful, faster, and easier.

How to use the practice price chart below:

  1. Find the color you want, listed on the left.
  2. Follow until you are under the clarity you want.
  3. Multiply the number in the box (price in hundreds) times $100 to find the price per carat.
  4. Multiply the price per carat by the carat weight to get the total price for that diamond.

A diamond dealer then adds or subtracts for additional factors like Ideal Cuts, poor crown angles, excessive table percentages, excessive fluorescence in fine colors, etc.

Practice Price Chart

NOTE: These prices are not from the actual Rapaport price list. That list is copyrighted and cannot be shown here. However, these prices represent a good idea of the changes for each color and clarity grade, just like you would see in the actual report.

Round Brilliant Shape 1.00-1.49 carats
(all prices are in $100’s of US dollars)

IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 247 181 155 117 92 74 62 49 42 28 16
E 169 159 135 108 87 69 59 46 40 27 15
F 153 139 124 98 83 66 56 44 38 26 14
G 108 104 99 87 77 62 54 42 37 25 13
H 89 85 80 73 67 59 52 41 35 24 13
I 74 73 68 62 58 53 47 38 32 22 12
J 63 61 58 56 51 47 44 34 28 20 12

(For fun, you can compare 1999 prices in an older pricing chart I wrote).

Now… Practice Using Rapaport

We recommend using the chart above to practice and test your understanding of diamond pricing.

TEST QUESTION:

If you buy a round brilliant shape diamond weighing 1.01 carats, of G color and VS2 clarity, what is the approximate starting point for price negotiations among dealers?

ANSWER:

As of August 2008, dealers would start negotiations for a 1.01 carat, round, G/VS2, very good cut, at $7,700 “per carat”, which gives a “stone price” of about $7,777 (1.01 x 7700)

This is called the “Rap Price” for this diamond. Actual selling price would vary greatly, depending mostly on the total quality of the diamond after you adjust for 13 major factors such as fluorescence, Ideal Cut round, crown angles, table percentages, etc. Prices on the same exact diamond will also vary on the volume purchased, credit rating of the buyer, relationship between the buyer and seller, etc.

Consumer Prices

Since the first 8-10 major Internet sites began selling diamonds in 1999 with less overhead and less markup to attract customers, many now sell to consumers at prices that are below the listed Rapaport price. This is good news for consumers.

But how much of a discount can you expect? That depends on the shape and its popularity, how well that stone is cut, and how well the dealer bought it — among other factors.

Better Than Rapaport

When you learn how to price any diamond you want – using current prices for stones that are available for sale right now — your pricing conclusions will be a lot more accurate than using Rapaport or any other pricing tool, because you are using live data, not making an educated guess using an algorithm. And this I say as someone who specialized in creating diamond pricing alogorthms a few years ago. The databases are the way to research pricing these days.

The Rap price is usually way off — sometimes by as much as 30% or more. Please use our tutorial and learn how to price diamonds with live data, instead of relying on limited knowledge and risk making a costly mistake.

Next :: How Shape Affects Price

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