RapNet Votes No on Synthetic Diamonds

RAPAPORT PRESS RELEASE, June 5, 2019, Las Vegas ... Members of RapNet, the world's largest diamond tradingnetwork with daily listings valued at $7.5 billion, voted overwhelmingly againstintroducing services for synthetic diamonds. The following are the votingresults for the issues polled. Should RapNet provide listings for synthetic diamonds?No: 5,934 (79%),Yes: 1,607 (21%).Should Rapaport publish a price list for synthetic diamonds? No: 5,232(74%),Yes: 1,885 (26%).Should syntheticdiamonds be required to disclose color and other treatments applied after theircreation? Yes: 5,892 (88%), No: 819 (12%). Should syntheticdiamonds require disclosure that they are different from natural diamonds asthey have no supply limitations?Yes:5,528 (85%), No: 1,104 (15%). Following the vote, RapNet announced it would notlist synthetic diamonds on its trading network and Rapaport USA announced itwould not publish a price list for synthetic diamonds. In a keynote address at the Las Vegas JCK jewelryshow Martin Rapaport called on the diamond industry to support a $1 billionmarketing campaign for natural diamond engagement rings. He also called onthose selling synthetic diamonds to make full disclosure regarding theinability of synthetic diamonds to store value as they can be produced inunlimited quantities. A video of the presentation is available on theDiamonds.net news portal [Click here]. Inaddition, an important article entitled "Synthetic Ethics" is available andhighly recommended. [Click here]. Media Contacts: Media@Rapaport.ComUS: SherriHendricks +1-702-893-9400Global:Avital Engelberg +1-718-521-4976?EUR? About the Rapaport Group: The Rapaport Group is an international networkof companies providing added-value services that support the development ofethical, transparent, competitive and efficient diamond and jewelry markets.Established in 1976, the Group has more than 20,000 clients in over 121countries. Group activities include Rapaport Information Services, providingthe Rapaport benchmark Price List for diamonds, as well as research, analysisand news; RapNet, the world's largest diamond trading network, with over 15,000members in 97 countries and daily listings of more than 1.5 million diamondsvalued at over $8 billion; Rapaport Laboratory Services, providing GIA andRapaport gemological services in India, Israel and Belgium; and RapaportTrading and Auction Services, the world's largest recycler of diamonds, sellingover 500,000 carats of diamonds a year. Additional information is availableat www.diamonds.net.Image: A lab-grown diamond necklace from the Light Heart Collection. (Helzberg Diamonds)