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Articles from DIAMONDS BY TYPE - SYNTHETIC / LAB-CREATED (77 Articles)











RapNet members have voted against providing a price list for synthetic diamonds and trading them on the platform.
RapNet members have voted against providing a price list for synthetic diamonds and trading them on the platform.

Online trading platform delivers blow to synthetic diamonds

Members of RapNet have emphatically voted against allowing lab-grown diamonds to be bought and sold through the service.

The world’s largest diamond trading network, RapNet, will not include synthetic diamonds on the platform.

Speaking at the recent JCK Las Vegas event, Martin Rapaport, chairman Rapaport Group – the parent company of RapNet – announced that members had voted 79 per cent to 21 per cent against listing synthetic diamonds and confirmed Rapaport would not provide a price list for them.

Rapaport added that the company’s position is that current prices for synthetic diamonds are “artificial” and “based on misleading disclosure”. Lightbox, a De Beers company, currently sells its lab-grown diamonds for US$800 per carat.

Members also voted 88 per cent to 12 per cent in favour of synthetic diamond producers being required to disclose post-growth treatments.











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Monday, 26 August, 2019 03:15pm
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