How to Use Rapaport Diamond Report
Learn how diamond dealers use the Rapaport wholesale price list to know a good deal on a diamond.
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:
- Find the color you want, listed on the left.
- Follow until you are under the clarity you want.
- Multiply the number in the box (price in hundreds) times $100 to find the price per carat.
- 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)
(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.
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?
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.
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.
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