RapNet Members Say ‘No’ to Synthetics

RAPAPORT… The RapNet community has voted overwhelmingly against
introducing services for the lab-grown-diamond sector.



Members voted by 79% to 21% against the trading platform
listing synthetics on the site. They also rejected a lab-grown price
list, with 74% voting “no.”


The poll took place on RapNet last week. The audience
applauded when Martin Rapaport, Chairman of the Rapaport Group, revealed the
results Sunday at the annual Rapaport Breakfast at JCK Las Vegas.


Following the results, RapNet will not provide a trading
platform for synthetics, or introduce a price list for the product, Rapaport
confirmed. “We believe the current prices for synthetic diamonds are
artificial, as they are based on misleading disclosure,” he added.


Voters also heavily backed the view that synthetics
producers must disclose post-growth treatments, and supported the establishment
of an organization for the natural-diamond industry.


RapNet vote results:


Should RapNet list synthetic diamonds?

Yes: 1,607 (21%)

No: 5,934 (79%)


Should Rapaport publish a synthetic price list?

Yes: 1,885 (26%)

No: 5,232 (74%)


Should synthetic diamonds be required to disclose
treatments?

Yes: 5,892 (88%)

No: 819 (12%)


Would you support establishment of a natural-diamond
organization?

Yes: 5,528 (85%)

No: 1,104 (15%)


Image: Martin Rapaport. (Rapaport News)