Pricing Martin Rapaport

1 pricing

1.1 diamonds commodity
1.2 price manipulation
1.3 diamonds investment
1.4 european commission

pricing
diamonds commodity

rapaport tried in 1982 filing out contract proposal new york mercantile exchange create diamond commodity market. effort failed, claimed, because diamond industry didn t want price transparency. writing new proposal , believes matter of time before idea succeeds, long sufficient criteria of standardization created. rapaport says diamonds commodity.

buy , sell them cash. re natural resource limited supply; re defined; re certified; re analyzed, graded, tradable around world.

neil d. reiff writes rapaport destroying diamond industry trying commoditize diamonds, , price guide no longer reflects wholesale value of diamonds sold, influences prices before go market. rapaport counters diamonds not unique, de beers marketing claims, , subject same laws of supply , demand else. new york times report in 2012 cited rapaport among list of other major industry players edahn golan , companies idex countering argument diamonds have many characteristic differences traded in standardized commodity market.

price manipulation

dating genesis of price guide, rapaport has been outspoken critic of de beers, , believes effort manipulate diamond prices. made reference negative unintended consequences of corporation s practice of trying control supply of diamonds in market:

diamond pipeline stuffed goose , there s indigestion.

in reference possibility large companies might dictate prices in future, mr. rapaport stated:

there powerful companies involved in diamonds , real concerns price manipulation, supply , demand determine price. if think prices on exchange not fair, walk away project.

diamonds investment

rapaport has spoken @ length diamonds investment. in 2008 while speaking guardian, cited diamonds durability during 2008 financial crisis because there new wealth around globe , wives want in on action - , if can t hands on big stones, price go up. summer 2012, has referred investment market because of low prices stones , high, rising demand out of emerging markets in china , india.

rapaport argues diamonds indeed commodity, against detractors each stone has evaluated individually based on list of different factors.

european commission

martin rapaport submitted papers in 2002 , in 2005 criticizing european commission s handling of investigations of collusion between de beers , russia s state owned diamond cartel, alrosa. alleged european body ignored evidence alrosa selling diamonds de beers @ prices 8 20 percent below market value, , aiding , abetting unethical , illegal business practices.