Shape
Price Lists are published for Round and Pear shaped diamonds. Prices are publishedevery midnight Thursday. The Pear ShapePrice List is often used for other fancyshapes with varying discounts depending on the shape, size, and quality. It is importantto note that fancy prices are highly sensitive to the shape and cut of the stone.Poorly cut stones often trade at huge discounts. The Price List is based on well-shaped,fine-cut stones.
Size
The Price Lists are organized by size, color and clarity. Each size has its ownmatrix. Round prices are quoted for sizes from .01 carat to 10-carat sizes and fancyshape prices are quoted for sizes from 1/5 carat to 5 carats. Approximate priceconversion scales are published for 6-carat to 9-carat sizes in the monthly Report.Conversion scales are based on percentage increases from 5-carat prices. Large stonesoften trade at premiums to the 5-carat list.
Price Indications for 6- to 9-Carat Stones
These indications should only be used as guidelines. Large stones are very thinlytraded and prices may vary significantly from dealer to dealer and stone to stone.Current availability of large, better-quality stones is very limited and buyersmay find that asking prices and/or transaction prices may be significantly higheror lower than these price indications. This price information should only be usedas a general indication of the current market.
Color and Clarity
Each matrix has a vertical column of colors and a horizontal row of clarities. Thecolors are based on Gemological Institute of America (GIA) standard terminologyfrom D through M. Clarity grades are also based on GIA standards. We have, however,added an SI3 clarity grade that is not recognized by the GIA. SI3 is a split SI2/I1grade. It is included because sellers frequently sell this grade of stone and tradeit in the market. For sizes under 1/4 carat, colors and clarities are grouped together,as these stones are most often sold in parcels.
Prices
All price indications are quoted in hundreds of dollars per carat. For sizes under1/3 carat, prices are quoted to the nearest $10. For example, a price of 6.4 shouldbe read as $640 per carat. Sizes of 1/3 carat and larger are quoted to the nearest$100 per carat. For example, a price of 95 should be read as $9,500 per carat. Pricesthat have increased since the last price sheet are in bold. Prices that have decreasedare in italic bold.
Indexes
For 1/3 carat and larger rounds, there are two Rapaport Diamond Indexes under eachmatrix. The first index RDI, W (white) is the average price per carat of all better-quality(D to H, IF to VS2) stones of that size. The second index RDI,T (total) is the averageprice of all the stones (D to M, IF to I3) in the matrix. The indexes are followedby an = sign and a number that reflects the percentage change in the index sincethe previous Price List. All indexes are in hundreds of dollars per carat.
Cut
Cut has an important impact on price. A poorly cut, flat or deep diamond is worthsubstantially less than a well-cut diamond. The price information in the RapaportDiamond Report relates to fine-cut stones as per Rapaport Specification A3 or better (clickhere for more about Rapaport Specifications). While medium-cut diamonds often tradeat a slight discount to fine-cut stones, poorly cut stones can trade at very highdiscounts. Prices for fancy shape stones are highly dependent on the overall shapeand the quality of cut, with very large discounts for poorly shaped or cut fancies.
Cut Specifications
The Rapaport Price List is based on Rapaport Specification A3 or better stones without strong ormedium fluorescence. Please Note: Rapaport specifications cannot replace the humanfactor in evaluating cut grade. Off-center culets, nonsymmetrical facet junctions,very wavy girdles, large naturals, crown angle comments, pavilion percentages, andthe relationship between depth, table, crown, and pavilion are all factors thataffect cut. Fluorescence and graining may also impact market price. The effect ofcut on price is highly
specific to particular stones and buyers. It is often subjective and varies accordingto market conditions. The specifications sheet is based on the opinion of Rapaportregarding current market conditions and is subject to change without prior notice.
Fluorescence
In some instances, high color diamonds are adversely affected by strong and mediumfluorescence, which give the stones a milky white appearance. In recent years, buyershave discriminated against fluorescent stones even when there is no milky whiteappearance. This may be because fluorescence makes the stone's face-up color lookbetter and some labs have a tendency to upgrade the color for these stones. Forlower J to M color stones, fluorescence may have a beneficial impact on color andmay help the stone bring better prices. In some markets, such as Singapore, theright type of fluorescent stones can bring premium prices.The Price List is basedon stones without strong or medium fluorescence. The table on the right presentsestimates of discounts and premiums for fluorescent stones.
Grading Reports and Certs
Our Price List reflects the value of stones that are accurately graded. Except forSI3, the price list is based on Gemological Institute of America (GIA) grading standards.Stones customarily lab graded by the trade (0.50+, D to K, IF to VS2) are pricedbased on their having GIA reports. Prices for smaller and lower-quality diamondsare based on honest grading. Stones with non-GIA certificates may trade at discountsto stones with GIA reports.
CAUTION: Diamond grading laboratories use subjective methods of analysis. The samediamond may be evaluated differently each time it is submitted to a laboratory.The accuracy of a grading report, its authenticity, date, and the lab that issuedthe report can all have an impact on value. Readers should be familiar with GIAterminology and grading standards to use the Price List effectively.
