Rapaport Suspends Price List Amid New Furor [View all]

[thecrow]

Steep diamond price drops on the March 20 Rapaport Price List have caused widespread anger in the trade—leading publisher Martin Rapaport (pictured) to suspend the list’s publication until May.

Last Thursday’s price list was a “sea of bold”—its method of indicating a price change. The price cuts hit almost every diamond category, with the drops ranging from 5% to 9% on both rounds and fancies. The average drop was generally estimated at 7%.

“Please note, in our 42-year history we have never suspended the price list,” he said in a statement announcing the vote. “This is an extraordinary step we are taking as an act of solidarity with the trade.”

https://www.jckonline.com/editorial-article/rapaport-suspend-price-list-furor/

**This is not good. During the Great Depression, DeBeers stashed a lot of diamonds in
milk cans to wait out the crisis and preserve prices.
This is unheard of as the article says, and there is backlash from the jewelers.