The Rapaport Diamond Report is a publication of Martin Rapaport used by the wholesale and retail diamond trade as a guide in determining the prices of diamonds being bought and sold on the open market. It is a price guide and not an absolute indicator of the actual selling price of a diamond. Generally diamonds being purchased by a registered member of the diamond trade will be bought at a percentage off of the price listed on the Rapaport Diamond Report. Don't be fooled by ploys to sell you a diamond "at Rap" or "off of Rap" without understanding how the Rapaport Diamond Report works... The suggested list price is merely the starting point of the discount series... Factors like the proportions of the diamond have major effects on the discount off of the suggested list price published on the Rapaport Diamond Report. Be sure to read our article The Rap Trap and click here for more information on the Rapaport Diamond Report.