Diamond Prices and The Rap sheet
So, you want to know how a Rap sheet works huh?
This is easy, it’s simple math on one of the most well hidden documents
in the diamond industry.
The Rap sheet is a bi-monthly price guide that comes out to show how diamonds
are currently priced, it’s an internationally recognized list and diamonds
are bought and sold for a percentage of, or percentage back of the list price.
For instance (and hypothetical numbers will be used), if a 2 carat H VS2 is
going for $7500 pc, the total RETAIL price of a diamond will be $15000, no one
will buy a diamond for that price, so the good sales person breaks out the Rap
sheet, and shows his/her customer the Rap sheet, how it lists retail and then
shows you that it just must be your lucky day, they discount it 10, 15, 20 or
even 25% if they like ya enough.
Always works when she’s doing the shopping and the fiancée’
to be is home and ya just so happen to be a sales-MAN (ok, in my world it used
to help, can’t guarantee that on all salesmen) so now, he gives you a
number and the price is $12750. Ok, no one seems to be happy with that number
so you ask for better, and you receive an additional 5% off, $12,000. It’s
basic, but that’s how it works, it’s not rocket science but it is
a bit of a no-no to have the Rap sitting on a counter top, but if you do want
to see the sheet, it can’t hurt to ask to take a peek. Look at the date
in the upper right corner, find the correct list, there is a list for every
diamond shape (just about), however; the only lists used are the rounds for
round diamonds and pear stones list for all fancy shapes (with the exception
of some newer trademarked cuts).
Find the color that you’re looking at, in the proper size, all sizes are
listed in a chart format, follow it over to the clarity you’re looking
at, and grab a calculator and go to town, remember, in anything other than an
ideal cut diamond, 15-20% off is a fair price. If you would like to see an example
of the rap sheet or need more elaboration on it, don’t be shy, email me
for more details, be happy to help!
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Rapaport Diamond Report™ |
Rapaport Magazine |
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