The Rapaport Price List is a weekly list of indicative diamond prices, published since 1978, in hundreds of dollars per carat, by weight, colour and clarity. The prices are “high cash asking” prices, a starting ceiling rather than transaction prices. In the trade, diamonds usually sell at a percentage discount to the list, and the retail price adds the shop’s costs.

If you have spoken with a diamond dealer, you have probably heard “it’s Rap minus 30” or “below list”. This refers to the Rapaport price list, the most widely used benchmark in the international diamond trade. It is useful to professionals, but easy for buyers to misunderstand.

What the list is

The list has been published by the Rapaport Group since 1978, weekly, for round diamonds and for fancy shapes (the “Pear” list). It is a subscription product protected by copyright, which is why we do not reproduce any values from it.

Unit: hundreds of US dollars per carat.
Grid: colour D–M and clarity IF–I3, including the SI3 grade, used by Rapaport between SI2 and I1 although GIA does not assign it.
Weight brackets: for example 0.30–0.39 ct, 0.50–0.69 ct, 0.90–0.99 ct, 1.00–1.49 ct, 2.00–2.99 ct. All stones within a bracket have the same per-carat price on the list.
Working assumption: well-cut stones without medium or strong fluorescence.

What “high cash asking price” means

The list describes asking prices, at a high level, for immediate payment. Rapaport itself states that they may be substantially higher than actual transaction prices. That is why the trade talks in percentages: a stone sells at a discount (sometimes a premium) to the list, depending on cut, fluorescence, report and demand.

Why it is not the shop-window price

It is a trade price between professionals, for unmounted stones. The retail price includes the setting, labour, warranty, rent and the shop’s margin.
It ignores the details that make the difference: inclusion position, exact tint, the real quality of the cut within the same grade.
It is in dollars and per carat: for the stone’s price you multiply by the weight, then apply the discount, the exchange rate and taxes.
It does not cover laboratory-grown diamonds. In 2019, members of the Rapaport network voted against listing synthetic diamonds and against a price list for them; their prices follow a separate market.

The RAPI index, in brief

Separately from the list, Rapaport publishes the RAPI index. It tracks asking prices on the RapNet platform for 25 quality combinations (D–H, IF–VS2, round diamonds with a GIA report) at 0.30, 0.50, 1 and 3 ct. The index shows the market trend from month to month, not the price of a particular stone.

How it helps you, in practice

It helps you understand why two seemingly similar stones have very different prices.
It explains the price jumps at certain weights; details in our article on “magic sizes”.
It does not replace an appraisal: the value of a specific piece requires examining it.

On our site we use our own indicative calculator, with values in euros per carat, which does not reproduce the Rapaport list. For a reasoned market value, book a diamond examination.