Historical
Martin Rapaport learned the business of rough diamonds in Antwerp (Belgium), he is a graduate GIA. He began his career in the industry as a broker of rough and polished diamond in New York in 1975. He established, in 1978, the Rapaport Diamond Price List (called by the professionals Rap or the List), which has become the primary source of diamond prices and market information for the diamond trade. Over the years, this price lists became Rapaport Diamond Report and it is in 1982 that he established RapNet, an online interactive diamond trading market, that has been expanded to include Diamonds.net. Martin Rapaport is a member of World Diamond Council and he played an important part in Kimberley Process: certification for the international trade in rough diamonds.
He is more powerful than De Beers yet he handles this power without any sign of corruption.
Rapaport Diamond Report
Rapaport Diamond Report is composed of sheets of price lists (see the example on the left and below). These price lists are accessible only by subscription, for the professionals.
The color of these sheets is always red in order to avoid and to limit photocopies or faxes which become black.
There are various lists according to the weight (from 0 to 11 carats) and the shape. Price rises are printed bold (example below: G-VVS2 to G-VS2) and falls are in bold italics (example below: E-SI2 to E-I1).
Because cut/shape, fluorescence, symmetry and polish are not included on the list there can be an important variations in price.
| RAPAPORT : (1.00 -- 1.49 CT) 03/05/04 ROUNDS | |||||||||||
| IF | VVS1 | VVS2 | VS1 | VS2 | SI1 | SI2 | SI3 | I1 | I2 | I3 | |
| D | 280 | 255 | 240 | 220 | 210 | 195 | 185 | 175 | 160 | 140 | 120 |
| E | 250 | 245 | 235 | 225 | 215 | 190 | 180 | 170 | 155 | 135 | 115 |
| F | 230 | 220 | 210 | 200 | 180 | 165 | 150 | 135 | 120 | 110 | 100 |
| G | 210 | 200 | 190 | 180 | 170 | 155 | 140 | 120 | 110 | 100 | 90 |
| H | 195 | 180 | 170 | 160 | 150 | 135 | 125 | 115 | 100 | 90 | 75 |
| I | 180 | 160 | 150 | 140 | 130 | 120 | 110 | 95 | 80 | 75 | 65 |
| J | 160 | 150 | 135 | 125 | 115 | 100 | 90 | 80 | 65 | 55 | 45 |
| K | 140 | 130 | 120 | 110 | 100 | 90 | 80 | 70 | 60 | 50 | 40 |
| L | 130 | 120 | 110 | 100 | 90 | 80 | 70 | 60 | 50 | 40 | 30 |
| M | 120 | 110 | 100 | 90 | 80 | 70 | 60 | 50 | 40 | 30 | 20 |
All diamond prices being reproduced on the list above are false, they do not reflect the reality and are there only for examples.
How to calculate diamond prices
The diamond prices indicated on these lists are expressed per carat, in hundredth of American dollar ($100's per carat).
On the first line of the list, one finds the weight, the date and the cut.
On the second line, one finds the clarity grade from IF to I3.
In the first column, one finds the color grade from D to M.
Therefore all you have to do is to move horizontally and vertically according to the color and the clarity to know its price in dollar per carat.
Example:
- Diamond price of 1.00 carat G-VVS2 Round cut is 190 in our list. Its price would be thus 1.00 carat x 190 x 100 = $19,000.
- Diamond price of 1.36 carat E-VS2 Round cut is 215 in our list. Its price would be thus 1.36 carat x 215 x 100 = $29,240.
We repeat that these diamond prices are not real. It is only an example.
If you wish to know the diamond prices in the retail trade, click on this link: Diamond Prices Calculator.