On Friday, Rapaport changed some of his 50 point prices for the first time this year. Admittedly, the change was only to the three top price points but at least it’s something.

This is the first change to any of his prices in our Fine category (D-I, IF-VS2) since November 2006, and the first upward movement of any price in that range since the recovery phase of the blip in January 2006. (see in the Comment section ‘Rap’s latest jump’, 23/01/2006 and ‘Direct from the source?’, 30/01/2006).

The graph below shows the path of the PolishedPrices Fine 50 point index since January 2004.

Prices for this range of goods were on a clear upward path during 2004 and 2005, but fell back again during 2006. Since then the trend has again been upward.

It cannot help the market to develop if, what inexplicably remains, the pricing benchmark remains essentially stagnant compared to reality.

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