Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
The Rap Price List Is Now Weekly Again
The Rapaport Group has nixed the idea of publishing its price list just once a month and scrapped plans for an advisory board.
New York—The Rapaport Group is rolling back all the changes made to its price list following an uproar over a price cut earlier this year.
In mid-March, as the coronavirus paralyzed business worldwide, Chairman Martin Rapaport cut list prices by an average of 7 percent across the board, angering hundreds of dealers and big diamond companies who wondered how there could be such a big swing in price when trading had virtually come to a halt.
Martin Rapaport refused to budge on the price cut, maintaining it accurately reflected what was happening in the market, but did organize a vote among RapNet members on suspending the list during the crisis.
They voted in favor of suspension, and the Rapaport Price List was put on ice until Friday, May 1.
While the list was suspended, Rapaport held two webinars in which he detailed a number of changes he would make when Rapaport Group resumed publication of the list.
He said they would:
— Shift to publishing the Rap list monthly, instead of weekly;
— Introduce a RapNet TradeSheet with discount ranges that will be published weekly; and
— Assemble an advisory board to give input on the list.
But in a note to subscribers published June 11, just a month after the list returned, the Rapaport Group announced it was reverting to publishing the Rapaport Price List every week.
“The diamond markets are returning to activity and it is important that we have the flexibility to change our benchmark prices when and how we see fit,” it stated.
Rapaport Group also said it is nixing the release of the weekly TradeSheet because it has “caused confusion and concern among retailers and added-value suppliers” and decided against having an advisory committee due to “anti-trust and security considerations.”
“While we will continue to regularly contact market participants for market and price information we will not establish a formal advisory committee … We are open to advice and information from all market participants and encourage them to contact us at prices@diamonds.net.”
The next Rapaport Price List is scheduled to come out today, June 19.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.