Not all sellers provide diamond grading lab reports (aka diamond quality reports) to their consumers. So my common advice to you is to keep your profit your pocket when dealing with such jewelers.
Only purchase a diamond gemstone if it comes with the original diamond quality report.
A lab report is an independent evaluation of the 4Cs of a loose diamond and includes a plotted diagram of the stone’s clarity characteristics and a graphic representation of the stone’s proportions.
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Having such a report enables you to compare diamonds of different qualities plus ultimately helps you make a more informed buying decision.
A retailer may cut corners and not provide a lab report or an unscrupulous vendor may provide a fake one due to the time, trouble and expense he will bear to getting a stone rated.
Yeah – there is a price intended for grading a diamond (though that cost is eventually paid by the consumer), plus the shipping and insurance fees for sending the diamond towards the lab. And let us not forget the chance cost of a jeweler not having the particular diamond in his store for sale for some weeks while the grading takes place.
Nevertheless , a diamond grading report could also not be available because the costs to getting one may impact too heavily on the final price of the ring.
For example , a 0. 3ct diamond ring costing $250 say, may cost around $75 to be graded and have the report number inscribed on the girdle around the diamond.
As you search for that ideal diamond engagement ring for your sweetheart, you’ll find that there is an alphabet soup of labs claiming to provide reputable diamond grading reports. But I would only put my money on…
The Leading Diamond Grading Lab Reports
Indeed, all diamond quality reports are not created equal. Within the industry, this is a consensus that the two premier labs are GIA-GTL (Gemological Institute of America’s Gem Trade Lab) and the AGS (American Gem Society Laboratories).
The GCAL (Gem Certification plus Assurance Lab) also offers highly regarded reviews or “diamond certificates” as they are usually referred to by GCAL.
The GIA has the strongest global reputation to get independence and consistency. Due to their constant color and clarity strictness recommendations, the globe’s largest and most expensive diamonds have been sent there to get grading decades. In 2006, GIA-GTL added a two-dimensional cut grading system for round brilliant expensive diamonds.
AGS uses the strictest trim standards in the industry. It uses a three-dimensional light performance metric that can grade several diamond shapes. In fact , it is the only cut grading system that is recognized by the scientific community.
What is more, its Diamond Quality Document utilizes an unique and proprietary 0 in order to 10 grading system to evaluate the particular 4 Cs – a system that is easier to comprehend than GIA’s grading system. In fact , AGS even will go the extra step by equating their particular 0-10 rating scale to other forms of rating.
For example , the conventional VS1 gemstone clarity rating is a 3 on the AGS Diamond Quality Document.
Gemstone Reporting – The Drawbacks
1 . Diamond grading is not standardized or even regulated and hence you may come across rate 2 labs that employ loose guidelines to the tier 1 grading labs mentioned above.
If you buy a diamond that has been graded by a tier two lab, you may end up paying even more for a lesser quality diamond. Therefore for example , a diamond rated the “F” in color at a tier 2 lab may get a G, H, or lower color ranking at a more reputable lab.
The industry also discounts diamonds graded simply by lesser known labs by about 15-30% or even more. So either you only buy a gemstone graded by a tier 1 laboratory or you accept that you might be buying a smaller quality diamond than what is mentioned on the report if that diamond is graded by a lesser known lab.
2 . Many large chain stores have huge contracts with lesser known labs with “softer” diamond grading guidelines. Some of these softer labs place “suggested replacement values” on the laboratory reports – values which are greater than what stores intends sell the diamonds for.
So a salesperson in a chain store may say to you, “Look at the great deal you are getting here. We are selling a person this diamond engagement ring for $2500 but the report says that the recommended replacement value is $4000. inches Wow – what a deal – NOT! This is why it is better that you believe in only independent tier 1 labs.
Also bear in mind that reputable diamond grading reports are not appraisals and don’t offer appraisal figures. Diamond appraisals tend to be grossly inflated and are not something you’ll want to rely on.
3. Diamond reviews are riddled with disclaimers that specify that nothing is “certified” or assured and that the labs are not responsible for errors. In fact , the GIA provides a disclaimer of sorts on their internet site regarding the use of the word “certify. ” The website says:
“It is wrong to state that students, graduates, their own businesses, or particular gemstones are usually “certified” by GIA. The Gemological Institute of America does not certify anyone or anything. Neither students nor a graduate who has already been awarded a certificate or diploma, nor a gem which has been graded or identified by GIA continues to be certified by GIA”.
So it is probable that you the consumer is left holding the bag should an inaccuracy in a report is later uncovered. Courts have frequently ruled that sellers, not labs, are responsible for like errors. Why? Because the labs indicated beforehand that their reports couldn’t be held liable.
Fortunately, a few couple ways to give yourself more buyer protection:
A. You could travel to India where jewelers provide a lifetime buyback policy to their clients. Too expensive to fly?
B. You could discover one of the 20% of US jewelers that sell fully bonded diamonds. These are diamonds that are sold with lifetime breakage, lifetime trade-in and life time buyback policies.
C. Not as good a remedy as buying a fully bonded diamond but you could buy a diamond that comes with an actual “certificate” and not a written report. “Certified diamonds do come with guaranties” albeit for shorter durations.
Some sellers refer to a “diamond report” as a “certified diamond” yet technically this is not correct. From a lawful standpoint, a diamond report is really a simply an expert opinion though in fact, aspects of a diamond grading review are not just opinions.
For example , a diamond’s carat (weight) can be precisely determined as well as its cut grade by measuring its optical performance or by referring to a computer model. A certificate on the other hand is a statement of fact – a document for which the issuer accepts culpability and will make restitution to the consumer for mistakes.