RapNet Blog

Industry tips & tricks, best practices and market insights

  • Facet Definition: What You Need to Know

    Every facet on a diamond fulfills a specific function. The crown facets are the ‘windows’ of the diamond which let light enter and exit a diamond. The pavilion facets are the ‘work horses’ that reflect light back through the crown facets. It is important that facets be placed in the correct positions and on the correct angles to perform their task effectively. The crown and pavilion facets have to line up perfectly. Also, all the facets have to be polished, so that they are free of any polish lines, abrasions or other surface anomalies that could compromise light reflection. After all, any diamond is only as good as its worst facet.

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  • Does Your Logo Need a Makeover?

    We’re only a few months into the new year. A clean slate. So there couldn’t be a better time to take a hard look at who you are as a company and who you want to be. And in marketing, who you want to be generally has something to do with who you want to see walking in your store. In other words…your target market. Many retailers are looking to become a bigger bridal store. Others are venturing into more custom or estate. If it’s changed over the course of many years, it’s time to look at everything you do, from the inventory you carry to the staff representing you and yes, to your marketing. That begins with your corporate logo.

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  • The Diamond Retail Evolution

    The dynamic between the customer and a company is delicate. When a company evolves, customers must learn to adapt to its new ways. Similarly, when customer patterns change, the market needs to be ready and willing to tend to their needs. If either party remains static, the healthy dynamic gets lost. When it comes to diamonds, there are so many fluid aspects that define both customers and dealers. For example, while at one point the entire industry was very private, today there is almost complete transparency. Not only can a customer immediately compare your products with your competitor, they can go as far to check the stone’s market value and tell you what you should be charging for your own goods!

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  • Trading Safely Online: Top Tips for Avoiding Email Fraud, Phishing Scams and Hackers

    Trading online has many great advantages. It’s easy, efficient and cost effective and opens you up to a world of diamonds and inventory which would otherwise be difficult to access. However, as with all business matters where money and high value items change hands, you must be sure to trade smart in order to avoid falling victim to would-be fraudsters.

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  • A Retailer’s Guide to Natural Fancy Color Diamonds

    The diamond and gemstone industry is somewhat of an enigma. On one hand it is all about keeping up with the latest fashions and trends, yet on the other hand, its product is stones that have been on this planet since ancient times. While diamonds, sapphires, emeralds, rubies and the various semi-precious gemstones have been worn and appreciated by different civilizations for centuries upon centuries, now ancient natural fancy color diamonds are coming into demand. So much so that many of the biggest jewelry companies, like Zales, Tiffany & Co., and Blue Nile have started heavily increasing their yellow diamond collections over the past year.

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  • Turning Damaged Inventory Into Profits

    If you don’t have a relationship with a diamond cutter (someone who actually cuts diamonds), chances are you’re missing out on countless opportunities to realize additional revenue for your business. Hidden in your safe or stashed away at the back of your drawer are the lesser diamonds, which you’ve taken in over the years. They may be chipped, scratched, burnt or broken - damaged goods in dire need of repair. More than likely, you have thousands of dollars tied up in diamond inventory that you aren’t able (or prepared) to show in their current condition. So how do you sell these diamonds without a decent cut grade or trusted grading report, especially if you are known as the trusted source for fine diamonds in your market?

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  • 6 Myths About Online Diamond Trading – DEBUNKED!

    With so many industries making the transition from brick and mortar to the cloud, the diamond industry is following suit. But should it be? Or is going online a necessity for jewelers looking to survive in what seems like an inevitable industry-wide shift? Furthermore, does the internet actually make sourcing and selling diamonds easier, more convenient and less expensive? Or is it an unnecessary waste of time?

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  • How to Negotiate Like a Boss in the Diamond Trading Business

    Diamonds Traders value honor and tradition almost as much as they value the diamonds themselves. So when buying and selling diamonds, it is crucial to know and follow the unspoken rules of negotiation.

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  • From Princess to Cinderella – How to Cut a Princess Diamond

    One of the things we have discovered after serving the jewelry industry for many years through our dedicated diamond re-cut and repair service is that Princesses form a disproportionate percentage of repairs. It is also the most abused and butchered of all diamond shapes. Over the years I have seen it all. Out of center culets, misaligned girdles, no girdles, Great Wall of China girdles, steep and flat facet groups and diamonds proportionately compromised with weights that they had no right to. But that is not all.

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  • 8 Reasons You Need to be on an Online Diamond Trading Network Today

    These days, 41% of people spend most of their time online with colleagues in professional networks. Joining a community dedicated to all things diamond, provides a unique place to find current market and pricing information and exchange ideas with other people interested in diamonds and diamond jewelry.

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