Rapaport price list expands to 10-carat stones February 22, 2008
New York—The Rapaport weekly price list is being expanded to include 10-carat stones, Rapaport Group Chairman Martin Rapaport told National Jeweler.
The introduction of the new price list is a reaction to the high demand, and high prices, for large diamonds in the marketplace.
Previously, the largest diamonds included on the weekly price list were 5-carat stones, Rapaport said.
"We're expanding the scope of the Rap price list," he said.
As he expands the scope of his list to include larger stones, Rapaport also issued a warning to the diamond industry regarding investing in larger stones.
He said current market conditions—high demand for large diamonds and a weak dollar—have led players in the diamond industry to invest in diamonds, preferring to keep their money there rather than in the declining dollar.
But, Rapaport said in a statement on Diamonds.net, "higher prices brought about by internal diamond industry speculation are not sustainable and may result in significant financial loss. Members of the diamond trade are encouraged to consider at what price level they are buying diamonds."
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