The premise for RoughPrices.com is that diamonds (rough and loose polished diamonds) are a commodity.
U2 Diamonds Limited which publishes PolishedPrices.com on Bloomberg is a 30% owner of RoughPrices.com, the other shareholders are individuals from WWW International Diamond Consultants Limited (WWW). Some equity has been set aside for those companies that agree to provide information on pricing.
The aim of RoughPrices.com is to provide a multiple sourced rough price list which will provide a genuine reflection of current market prices.
There is no common format for a rough price list. RoughPrices.com has used as its base a modified version of the WWW International Diamond Consultants Ltd (www.diamondwww.com) format which it uses for its market valuations for inter alia its work valuing all current exports of rough diamonds from Canada for royalty purpose for the Federal and Ontario Governments. This amounts to approximately $1.5 billion of rough diamonds per annum.
No one working for Rough Prices Ltd, WWW or U2 Diamonds buys or sells rough or polished diamonds.