Jewellery Technology & Machinery - JTM
WFDB Concerned about Rapaport listing policy

Yoram Dvash,
Acting President WFDB
Calls for Transperancy

In a letter from WFDB to the Diamond Industry Yoram Dvash, Acting President stated concern about the reverse policy of Rapaport in terms of publishing of price list. Just Two months back the Diamond Industry experienced a furore regarding Rapaport price list and the pricing platform had to face the angst of its members. According to Yoram Dvash, “Rapaport had suggested during that time that the price list would be published monthly instead of weekly giving time for the Industry to breath”. But now in a recent statement Rapaport has taken back their decision and said that the price list would again be published weekly. This at a time when the world is still battling COVID 19 and the Diamond Industry is yet to crawl towards a demand graph”.

Yoram also adds the setting up of an advisory board as suggested by Rapaport is facing problems and might not see light in the near future. Yoram in his letter shows deep concern for the Diamond Industry members who have to sway to the decisions that might be detrimental to the entire Industry during these challenging times. He once again calls for transparency and urges Rapaport to establish a valuable interaction with the community regarding the previous statements given out by him.

The New Jeweller International Media Group View:

While the Diamond Industry has been subjected to a kind of domination when it comes to a Diamond price facilitator, it also has been exposed to closed door decisions lacking transparency. There was always a cry for alternative pricing platforms based on Algorithm arrive at an unbiased and neutral Diamond pricing. Now with getdiamonds.com too coming in the Diamond Industry has alternative’s to choose. Let’s leave it to the Industry to take the best that suits.

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