New York—At the end of a presentation on the state of the diamond market, held on May 29 during the jewelry shows in Las Vegas, Rapaport Group Chairman Martin Rapaport ended up on the hot seat over a 25 percent increase in stone prices on his price list. Several members of the packed ballroom at the Venetian hotel said the price increases, which occurred just before the Las Vegas jewelry shows, have created confusion in the market among dealers and buyers worldwide who rely on the list for diamond transactions.

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