List price is the published reference price for an item, against which trade discounts are typically quoted. In the diamond trade the principal list reference is the Rapaport Price List, published weekly by the Rapaport Group and used throughout the international rough and polished diamond trade as a discount baseline. Polished diamonds are quoted as percentage discounts to or premiums against the Rapaport list, for example as a thirty per cent discount to Rapaport, or as Rap minus thirty.

The Rapaport list is itself a published indication rather than a market-clearing price; trade goods routinely transact at significant discounts to the published number, and the size of the discount varies by category, by market conditions, and by the bargaining position of the parties. Rough diamond prices are also quoted relative to similar published lists, and individual companies maintain their own internal price books for goods they handle.

For coloured stones there is no equivalent universal list. Trade pricing relies on a combination of comparable sales references, auction house results, internal price books maintained by individual dealers, and category-specific guidance such as the GemGuide pricing service or the Palagems Reference Price Guide. List pricing in the coloured stone trade is therefore less standardised than in diamonds, and quoting a percentage to a published list is not the routine practice that it is in the diamond market.