Martin Rapaport is chairman of the Rapaport Group and the founder of the Rapaport Diamond Report and the RapNet Online diamond trading network.
Rapaport, an American Jew who lives in Israel, is a well-known figure in the diamond industry and is often affectionately referred to as "the man with the bowtie," because of the red bow tie he wears whenever he makes a public appearance.
Rapaport began his way in the diamond industry as a cleaver and rough sorter in Antwerp, Belgium. He moved to New York in 1975, where he worked as a rough and polished diamonds' broker.
He may have remained anonymous had he not created the Rapaport Diamond Report for polished diamonds in 1978, as until then, there were no official price lists or standards for polished diamond prices.
Ever the maverick, in 1980 Rapaport founded the RapNet electronic trading network, which over the years has become the industry's major polished diamonds e-commerce site.
In addition, he publishes a monthly magazine, which features the Rapaport Diamond Report.
The Rapaport Diamond Report
The Rapaport Diamond Report includes the price list for all the major cutting and polishing styles in the market,
listed according to weight, color and clarity grading.
The price list's systematic and detailed format allows users to easily determine the price of a wide variety of diamonds of different quality levels. The price list specifies the recommended price for the various categories.
The Rapaport Diamond Report is usually published once a month.
Over the years, it has been rivaled by several other services trying to offer diamond price lists, but the Rapaport Diamond Report remains the most popular among diamantaires.
At first, many diamantaires strongly opposed using the price list, but over the years it has proven itself as a very useful instrument.
Today, the Rapaport Diamond Report is a tool that reflects industry and market trends, and it can be used as the basis for calculating prices while examining supply and demand trends.
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