The Rapaport Diamond Trading Network has upgraded its RapNet Price List. The new list provides the best and average asking prices for specific categories of diamonds offered for sale by the diamond trade on RapNet. In addition, prices are presented in hundreds of dollars per carat and as percentages below the traditional Rapaport Price List. Prices are based on RapNet TradeScreen asking prices at midnight for Rapaport Specification 2 (RapSpec-2) or better diamonds graded by the GIA, AGS, or HRD. The RapNet TradeScreen presents identical and additional real time price information on a 24/7 basis.

The RapNet Price List is distributed exclusively to members of Rapaport’s RapNet Diamond Trading Network. It differs significantly from the traditional Rapaport Price List which provides the diamond industry with a price guideline based on Rapaport’s opinion of high cash asking prices. The RapNet Price List is not based on opinion, but is solely based on actual diamond trade asking prices as presented on RapNet. As such, it changes in real time and may be much more volatile.

Rapaport’s RapNet is the largest diamond trading network in the world with daily listings of over $4 billion and 450,000 laboratory graded diamonds. It is part of the Rapaport Group, an international network of companies providing added value services that support the development of free, fair, and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information.

Source: www.jckonline.com

 RAPAPORT…  August 5, 2008, New York- The RapNet Diamond Trading Network is pleased to announce the August 8, 2008, launch of www.RapNet.cn - the first multi-lingual Chinese and English diamond trading network. RapNet China is the first diamond trading network to provide Chinese buyers with direct access to the global diamond markets and give foreign suppliers direct access to Chinese buyers. This innovative step sets a new standard for diamond traders in the Far East who will now be able to deal directly with each other without any commission, advancing both the local Chinese market and the global marketplace. The RapNet professional trading community has over 3,800 members with daily diamond listings of over 425,000 diamonds valued at more than $3.2 billion.

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The RapNet Diamond Trading Network has upgraded its ‘Buy Request’ service to create a more efficient search and sales engine. The new features allow buyers and sellers to quickly and easily match buy requests with online inventory.

Some of the central enhancements include an ‘InstantMatch’ feature which instantly notifies buyers when a diamond matching their request is uploaded to RapNet; a new interface for listing and searching buy requests; and improved printing and Microsoft Excel support. Buyers now specify how long the request will remain posted (maximum of 14 days) to ensure only valid buy requests are shown.

“By upgrading our buy request service, we are enabling the RapNet community to better trade amongst themselves. Judging from the positive response we had in the beta-testing phase, we are sure the upgraded buy requests will be popular with our members and increase B2B diamond sales,” says Saville Stern, Chief Operating Officer of RapNet.

Source: www.diamondintelligence.com