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RAPAPORT... Yesterday, October 29, Rapaport chairman Martin Rapaport spoke at the Ramat Gan diamond bourse about the current state of the diamond business and the world market in general.
In a 40-minute speech, supported by an audio-visual array of graphs and statistics, Rapaport reviewed the current worldwide financial crisis, and the aftermath of the collapse of the commodities bubble and defaulting sub-prime loans. Rapaport then moved the discussion toward the diamond industry and -- more importantly for his listeners -- diamond prices.
Rapaport explained that diamond prices are under pressure and are expected to decline. His comments were met with appeals from diamond manufacturers and dealers to freeze the Rapaport Price List or stop publishing it until after Christmas. Rapaport replied that he could not do this, and would publish his opinion of diamond prices on a weekly basis as he has for the past 30 years. Rapaport stressed his ethical obligation to publish prices even if they were lower.
NC
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1. prices should be decrease same way as it has increased.
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When the prices start increasing, it has started by 1% then it increase by 5% & then it increase by 10% on a singal day. so it should be decrease by 1% first then 5% & then 10% if needed. Investment of diamonds should be as strong as gold by value. keep the confidence of the customers as this is not stock market. there are many goods like -3.00cts fancy shape which are really undervalued by rapaport so why it should be decreased ?
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By:
SARJU SHAH
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11/3/2008
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2. price bubble
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comparing diamond prices, to the american credit bubble,it kept on balloning,so did the diamond prices. now that the bubble is bust you reduce diamond prices.if there were no sales the market would react and increase discounts ,and it would stabilse the prices,diamonds have a very sentimental attachment and cultural value.
please do not let the "price list" affect our trade.
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By:
sachiv mehta
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11/3/2008
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3. NO REASON FOR WHAT YOU DID...
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NO REASON TO LOWER THE PRICES ON LARGE STONES. YOU JUST HAD A VIDEO STATING THE WERE A FINE PLACE TO STORE WEALTH. WHAT'S WRONG WITH YOU????????????????
LET THE MARKET SET THE PRICE. LEAVE THE RAP. PRICES ALONE.....YOU HAVE DESTROYED CONFIDENCE IN DIAMONDS FOR NO REASON.
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By:
MY WIFE
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10/31/2008
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4. NOT RIGHT
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You MR Raised the list price so people would start to give larger discounts. WHICH was working and putting the wholesale back into diamonds. NOW you lowered the prices instead of letting us lower the prices thru the discounts. NOW you just destroyed the safty and investment aspect of diamonds for no reason. YOUR OUT OF CONTROL>>>>>>>>>
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By:
Can't Say
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10/31/2008
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5. Rapaport - debeers nexus
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Its time, Martin came clean on his association , if any, with the Debeers group - in any which way. It is of tremendous concern to diamantaires all over the world, and needless speculation on the issue gives rise to doubts.
Sure, there have been times, when the rise in price shown on the Raplist - has been the provocation/catalyst for increase in the prices on the street.So high time,MArtin - for some transparency here.
However, to those who think / dream that the list is 'irrelevant' - wake up guys.... time to smell the coffee..THE LIST RULES !
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By:
dharmesh
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10/31/2008
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6.
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I agree with concerned diamantaire on everything but "irrelevant list". Like it or not, the rap turns everything. More investigation should be undertaken to explore Martin Rapaport's association with debeers an the allegations of price fixing
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By:
Avi Dagaria
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10/30/2008
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7. Irrelevance of weekly prices
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The weekly price list is irrelevant. If Martin had not boosted the prices of 3 ct + in bubble fashion, there should be no reason to readjust. Just shows the basic harm done by publishing this list which has taken away our expertise and margins and left the value of the larger stones in the hands of gemmological labs ( remember the GIA scandal)and priced by an irrelevant "list"
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By:
concerned diamantaire
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10/30/2008
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8. It is a fair decision
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It is a fair decision to publish the weekly prices even they are under pressure diamond dealers has to be realistic
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By:
Stefan Fleischer
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10/30/2008
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