FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
SourcingMar 26, 2020
The Rap Price List Is Suspended Until May 1
While it remains in limbo, others are stepping in to offer free membership or even launch new platforms.
New York—The Rapaport Group won’t publish a new price list for the next five weeks with the spread of COVID-19 bringing diamond trading to a standstill worldwide.
In a vote that closed Tuesday, Rapaport Group said 72 percent of RapNet members said they want to postpone publication of the next price list until Friday, May 1. (The Rap list normally comes out every Friday.)
Only about a quarter (28 percent) voted to continue publishing the price list every week.
The March 20 price list—the list that has caused an uproar among dealers—remains in effect until May 1.
Rapaport Group’s report on the vote follows a tumultuous couple of days in the diamond industry.
When the list came out last Friday, RapNet members noticed prices had gone down a substantial amount, a decision Rapaport Group Chairman Martin Rapaport said he made to reflect what he saw happening in the market.
“I am doing my job—to communicate diamond prices and to establish a fair balance,” he told National Jeweler during a Skype interview Sunday. “I can’t put out false information.”
In other words: don’t shoot the messenger.
The rollback angered dealers worldwide, many of whom countered that prices couldn’t have gone up or down because, as Diamond Manufacturers & Importers Association of America President Ronnie VanderLinden put it in a statement to members, the industry is operating “in a vacuum of zero trades” due to the coronavirus.
“If Rapaport was dedicated to maintaining stability in the marketplace, he could, and indeed should have, simply announced a suspension of his price list until this crisis is behind us. His actions have done nothing more than try to further destabilize a market in crisis,” the statement reads.
Rapaport told National Jeweler he will not consider rolling back the price cut but did organize the vote for RapNet members on suspension of the list—but at the March 20 levels.
Following the price cut, hundreds of diamond companies removed their diamonds from RapNet, with many vowing to find an alternative to the Rap list, which has been in use for 42 years.
Meanwhile, as the Rap list is suspended—and resentment over the price drop remains palpable—other platforms and organizations are stepping in to offer free membership or even launch new platforms.
News of these offers have been popping up all week as momentum built behind the movement to defect from RapNet.
Rapaport Group did not respond by deadline
to email inquiries on how many companies have removed their diamonds from RapNet, but a source told National Jeweler Thursday morning there have been about 500 companies so far, witih a total of $5 billion in goods gone from the site.
A statement from the World Federation of Diamond Bourses, the umbrella organization for diamond trading halls worldwide, began circulating an announcement about the launch of a WFDB trading platform.
The trading platform will be open to all WFDB members from all bourses, and all transactions will be backed by its arbitration system, it said.
The organization said the new site will go live “in due course.” In the meantime, the Israel Diamond Institute has opened up its trading platform, Get-Diamonds.com, to all WFDB members.
Although the WFDB statement does not mention Martin Rapaport or RapNet by name, it does seemingly allude to the growing notion that the industry needs a replacement for—or, at least, viable alternatives to—RapNet, stating its new platform would “strongly contribute” to “healthy competition.”
IDEX sent out a letter signed by Chairman Ehud Cohen and Tamar Katzav, chief operating officer, stating it is making its diamond trading platform available for free to all newcomers until August. The letter also provided a link to contact information for its offices worldwide.
IDEX said its price index is updated every hour and is derived from its trading inventory of more than 700,000 polished diamonds.
Like WFBD, IDEX does not call out Rapaport by name, but the letter states in part, “We strongly believe that a bold, new vision is what will take us through this turmoil and beyond, to thrive and prosper once more.”
It also makes subtle references to other criticisms lobbed at RapNet. The IDEX price index is described as being “unbiased” and “accurately reflects price trends as they happen in real time, such as the drop of over 2 percent since the start of March.”
Last Friday’s drop in the Rap list was steeper, with prices down an average of 7 percent across the board.
Virtual Diamond Boutique circulated a reminder online that it “always was, always will be” free, and invited buyers to join.
And, on Wednesday morning, diamond marketplace Nivoda said it was freezing its prices to the March 6 Rap list because many members requested it.
The prices will remain frozen for a minimum of three months, giving the industry “time to decide how pricing will be handled going forward.”
“We believe, by freezing the price list, we will allow the discounts at which goods are sold to be the true indication of market prices,” CEO David Sutton said.
A statement from the World Federation of Diamond Bourses, the umbrella organization for diamond trading halls worldwide, began circulating an announcement about the launch of a WFDB trading platform.
The trading platform will be open to all WFDB members from all bourses, and all transactions will be backed by its arbitration system, it said.
The organization said the new site will go live “in due course.” In the meantime, the Israel Diamond Institute has opened up its trading platform, Get-Diamonds.com, to all WFDB members.
Although the WFDB statement does not mention Martin Rapaport or RapNet by name, it does seemingly allude to the growing notion that the industry needs a replacement for—or, at least, viable alternatives to—RapNet, stating its new platform would “strongly contribute” to “healthy competition.”
IDEX sent out a letter signed by Chairman Ehud Cohen and Tamar Katzav, chief operating officer, stating it is making its diamond trading platform available for free to all newcomers until August. The letter also provided a link to contact information for its offices worldwide.
IDEX said its price index is updated every hour and is derived from its trading inventory of more than 700,000 polished diamonds.
Like WFBD, IDEX does not call out Rapaport by name, but the letter states in part, “We strongly believe that a bold, new vision is what will take us through this turmoil and beyond, to thrive and prosper once more.”
It also makes subtle references to other criticisms lobbed at RapNet. The IDEX price index is described as being “unbiased” and “accurately reflects price trends as they happen in real time, such as the drop of over 2 percent since the start of March.”
Last Friday’s drop in the Rap list was steeper, with prices down an average of 7 percent across the board.
Virtual Diamond Boutique circulated a reminder online that it “always was, always will be” free, and invited buyers to join.
And, on Wednesday morning, diamond marketplace Nivoda said it was freezing its prices to the March 6 Rap list because many members requested it.
The prices will remain frozen for a minimum of three months, giving the industry “time to decide how pricing will be handled going forward.”
“We believe, by freezing the price list, we will allow the discounts at which goods are sold to be the true indication of market prices,” CEO David Sutton said.
More on Sourcing
The Latest
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
