News

Advanced Search

RapNet Members Say ‘No’ to Synthetics

Jun 3, 2019 4:59 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... The RapNet community has voted overwhelmingly against introducing services for the lab-grown-diamond sector.

Members voted by 79% to 21% against the trading platform listing synthetics on the site. They also rejected a lab-grown price list, with 74% voting “no.”

The poll took place on RapNet last week. The audience applauded when Martin Rapaport, Chairman of the Rapaport Group, revealed the results Sunday at the annual Rapaport Breakfast at JCK Las Vegas.

Following the results, RapNet will not provide a trading platform for synthetics, or introduce a price list for the product, Rapaport confirmed. “We believe the current prices for synthetic diamonds are artificial, as they are based on misleading disclosure,” he added.

Voters also heavily backed the view that synthetics producers must disclose post-growth treatments, and supported the establishment of an organization for the natural-diamond industry.

RapNet vote results:

Should RapNet list synthetic diamonds?
Yes: 1,607 (21%)
No: 5,934 (79%)

Should Rapaport publish a synthetic price list?
Yes: 1,885 (26%)
No: 5,232 (74%)

Should synthetic diamonds be required to disclose treatments?
Yes: 5,892 (88%)
No: 819 (12%)

Would you support establishment of a natural-diamond organization?
Yes: 5,528 (85%)
No: 1,104 (15%)

Image: Martin Rapaport. (Rapaport News)
Tags: JCK Las Vegas, lab-grown, lab-grown diamonds, Martin Rapaport, price list, rapaport breakfast, Rapaport News, RapNet, Synthetic diamonds, synthetic price list, Synthetics, trading
Similar Articles
Renard mine 150 061119Struggling Stornoway Seeks Buyer for Renard
Jun 11, 2019
Stornoway Diamond Corporation is looking for investors to help salvage its Renard mine as the company continues
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.