IDEX Online Introduces Suggest Retail Price (SRP) at Ramat Gan Exchange
IDEX Online analyst Ken Gassman and IDEX Online Chairman Udi Cohen formally introduced on Monday the Suggested Retail Price (SRP) for polished diamonds to a crowd of diamond traders at the Israel Diamond Exchange (IDE) in Ramat Gan.
Endorsed by the World Federation of Diamond Bourses (WFDB), the SRP list is intended to fill a void in the market by providing transparent polished diamond pricing, increasing consumer confidence and boosting retail and wholesale sales.
WFDB President Avi Paz, who first introduced the SPR list at the Diamond Symposium in Antwerp last week, said the WFDB is endorsing the SRP list because it is transparent and subject to third party auditing. He also recounted the hundreds of diamond traders that requested a price list that is based on total transparency.
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