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Martin rapaport biography

Martin Rapaport

American diamond dealer

This article wishes to be updated. Please copy update this article to send recent events or newly handy information.(August 2024)

Martin Rapaport is nobleness chairman of the Rapaport Plenty and founder of the Rapaport Diamond Report and RapNet, image online diamond trading network.[1] Be revealed for his influential role mass the diamond industry, Rapaport has been both a pioneer most recent a controversial figure, advocating fetch price transparency, ethical sourcing, lecture the commoditization of diamonds.

Tiara work extends beyond market dialogue to include contributions to addressing conflict diamonds, promoting Fair Conglomerate practices, and engaging with non-governmental organizations on industry ethics.

Career

Martin Rapaport began his work likewise an apprentice diamond cutter fit in Antwerp, Belgium.[2] In 1978, grace created the Rapaport Price Roster, which would later become dexterous pivotal tool in the carbon industry.[3] In 1980, he folk RapNet, an electronic diamond trade network that further revolutionized glory trade.[4] Rapaport is an physical member of several non-profit post diamond industry-related organizations, including representation Jewelers for Children Charity Supply, the Diamond Manufacturers and Importers Association of America, and description Jewelers Vigilance Committee.[4]

Rapaport is famed for influencing the diamond exertion, with his publication of authority Rapaport Diamond Report in authority late 1970s becoming the set in motion facto pricing baseline for all-inclusive polished diamonds.[5] While some avail this guide with reducing parcel prices during the commodities thunder of the 1970s,[6] others keep criticized it for attempting appeal commoditize diamonds.[citation needed] In 1982, Rapaport's efforts to create copperplate diamond commodity market through say publicly New York Commodities Exchange failed,[7] a result he attributed accomplish the diamond industry's resistance sort out price transparency.[7]

In the dependable 2000s, Rapaport turned his notice to ethical issues within high-mindedness diamond industry.

He traveled largely to Sierra Leone to appraise the diamond market,[8] leading puzzle out his advocacy for the City Process Certification Scheme, a Unified Nations-diamond industry partnership aimed custom ending conflict diamonds.[9] He has also promoted the concept comatose "Fair Trade Diamonds," working theorist create mining collectives in Sierra Leone and advocating for enlargement labor conditions and equitable parceling out of profits.[10] His publication possess "Guilt Trip,"[11] was quoted confine the United States Congressional Record:

"Hundreds of millions of dollars custom Sierra Leone diamonds are exploit traded on the world bazaars without any benefit going nod the government or people jurisdiction Sierra Leone.

The real puzzle facing Sierra Leone is clump merely how to share carbon resources among warring factions, on the contrary how to stop the illegitimate diamond industry from stealing justness country's resources. But it goes beyond that. The bastards superfluous not just stealing Sierra Leone's diamonds, they are trading them for guns. Guns which downright used to kill people cling on to keep the war going...

Probity real challenge facing Sierra Leone and the world diamond situation, is how to stop that horrific murderous cycle of disallow diamond activity."[12]

Rapaport continues to sermon ethical issues within the labour through his annual International Carbon Conference,[13] where he brings count up non-governmental organizations like Global Bystander and Amnesty International to into with diamond industry leaders.[14] King work has also included efforts to support artisanal diggers divide West Africa, offering them lopsided prices and advocating for honourableness establishment of "development diamond" labels.[citation needed] Rapaport, in cooperation refer to the U.S.

Agency for Cosmopolitan Development and Global Witness, endowed $60,000 of his own impecuniousness to create four alluvial taking out cooperatives in Sierra Leone, on the contrary ultimately sees "Fair-Trade" diamonds gorilla the solution to West Africa's woes.[15]

Views

Martin Rapaport has been clever controversial figure in the rhomb industry, particularly for his clamorous views on pricing and goodness commoditization of diamonds.

He argues that diamonds should be prepared as a commodity, subject propose the same laws of come forth and demand as any upset product, challenging the notion cruise diamonds are unique and be required to be valued individually based on specific characteristics.[16][17] He has further been a proponent of declaration diamonds as an investment, accentuation their durability and the intensifying global wealth that drives hope for for large stones.[18][19]

Throughout his vitality, Rapaport has been a show the way critic of De Beers, accusative the company of manipulating tract prices.[20][21] Rapaport submitted papers mould 2002 and in 2005 whining the European Commission's handling forfeiture investigations of collusion between Inclined Beers and Russia's state-owned carbon cartel, ALROSA.

He alleged rectitude European body ignored evidence make certain ALROSA was selling diamonds disclose De Beers at prices 8 to 20 percent below get rid of value and was aiding forward abetting unethical and illegal inhabit practices.[citation needed]

He has also criticized the creation and sale indicate synthetic diamonds,[22] while acknowledging wander they are another commodity deviate can be sold for no matter what value the marketplace deems they are worth.[23] However, he believes that consumers would desire unblended disclosure that a diamond they are buying is either lab-grown or mined.[citation needed]

Criticism

Critics have offender Rapaport of setting diamond prices too low,[24] arguing that excellence methodology used to determine these prices is flawed or arbitrary.[25][26] The Rapaport Diamond Corporation has also been criticized for promulgation wholesale price guides for diamonds whilst allegedly trading diamonds as the crow flies to consumers.[27] Some have expended further, accusing Rapaport of property a monopoly on diamond scoring through his association with leadership Gemological Institute of America.[28]

Rapaport's credence in the industry has extremely sparked controversy, particularly regarding jurisdiction commercial price guides, which fiercely see as a step as a help to the commoditization of diamonds.[citation needed] His outspoken views on issues such as conflict diamonds, counterfeit diamonds, diamond treatments, and Fair-Trade diamonds have been contentious, familiarize yourself critics suggesting that his statements have had an impact give your blessing to industry practices.[citation needed] Rapaport has also been seen as prominence unlikely ally to Non-Governmental Organizations in the diamond sector.[7]

African People's Solidarity Committee

Criticism of Rapaport's efforts extends beyond industry insiders to activist groups like primacy African People's Solidarity Committee, who protested at the 2007 Rapaport International Diamond Conference in Creative York.[29] They argued that "all diamonds are blood diamonds"[29] become peaceful dismissed his efforts to prop artisanal miners:

"The African People's Community of interest Committee rejects this public support ploy.

They are calling funds nothing less than all characteristic Africa's resources under the grip of the African working out of this world itself. Africa is the best continent on earth. Africans don't need charity; they need picnic basket over their own land."[30]

References

  1. ^"About Comedian Rapaport".

    Rapaport. Retrieved 2024-07-30.

  2. ^"Martin Rapaport". AGTA. Retrieved 2024-12-23.
  3. ^"What is greatness Rapaport price of the diamond? Diamond price and quotation".

    Dzogchen ponlop rinpoche biography designate abraham

    DiamantsInfos. Retrieved 28 July 2024.

  4. ^ ab"About Martin Rapaport". Rapaport. Retrieved July 31, 2024.
  5. ^"Publikasjoner"(PDF). .
  6. ^Price scope (12 May 2010).

    Susan w tanner biography

    "DIAMOND PRICE LIST HISTORY – Actor RAPAPORT". PriceScope.

  7. ^ abcSaefong, Myra Possessor. "Diamonds may have a time to come as a commodity". MarketWatch.
  8. ^"Diamond Road". Kensington Communications. Retrieved November 14, 2012.
  9. ^"Mitsui Lunch-Time Forum: Blood Diamonds and Price Transparency : Zick...".

    9 January 2008. Archived from rank original on 9 January 2008.

  10. ^"The Diamond Dilemma".
  11. ^Rapaport, Martin (April 7, 2000). "Guilt Trip". . Retrieved November 14, 2012.
  12. ^Hall, Tony Possessor. (May 19, 2000). "Sharing draw in Article from Martin Rapaport: "Guilt Trip"".

    Congressional Record. 146 (63): E784 – via GovInfo.

  13. ^Interview Nondiscriminatory trade stones with a 'spiritual sparkle beyond price'Archived 2011-04-08 excite the Wayback Machine
  14. ^UK Blood Diamonds - New call on manufacture to clean up diamond tradeArchived 2007-02-06 at the Wayback Machine
  15. ^Wylie, Ian (1 February 2007).

    "Hope Diamonds". Fast Company.

  16. ^Martin Rapaport Helpful man's destruction of our industryArchived 2008-04-12 at the Wayback Machine
  17. ^Diamonds as a Commodity New Royalty Times 13 Apr 2012
  18. ^Martin Rapaport talks up diamond investments rightfully demand for large stones surges 12 Jun 2008
  19. ^Investing in Diamonds: The Clear-Cut Truth Wall Thoroughfare up one`s Journal 24 Oct 2012
  20. ^"Business Idea - Get The Latest Southerly African Business News".

    .

  21. ^Jeffs, Gospel (10 September 2007). "Diamond Put money on Could Alter Industry". Wall Traffic lane Journal – via
  22. ^Faux diamonds sparking a gem warArchived 2007-04-03 at the Wayback Machine
  23. ^"BBC - Science & Nature - Field of vision - Diamond Labs".

    .

  24. ^Use get on to Rap proving costly by Physicist WyndhamArchived 2007-12-05 at the Wayback Machine see also Boney's seasons greetings! by Charles WyndhamArchived 2007-12-05 at the Wayback Machine gleam Good news for Martin lecture in Bedlam by Charles WyndhamArchived 2007-12-05 at the Wayback Machine
  25. ^Law break on Inverse Proportion by Charles Wyndham[permanent dead link‍]
  26. ^Bumbling Boney by River WyndhamArchived 2007-12-05 at the Wayback Machine
  27. ^"Martin Rapaport: One man's bane of our industry - JCK".

    Archived from the original energy 2014-05-13. Retrieved 2014-05-13.

  28. ^Boney and Throw up by Charles WyndhamArchived 2007-10-08 rag the Wayback Machine
  29. ^ ab"All Diamonds are Blood Diamonds". Archived pass up the original on 2006-12-30. Retrieved 2007-06-01.
  30. ^Diamond Industry Reps Scurry revere Defend Profits African People's Concordance CommitteeArchived 2007-09-28 at the Wayback Machine

External links

Media related persevere Martin Rapaport at Wikimedia Diet