It used to be that only dealers of diamonds were using gemological reports. Nowadays, buyers have become more conscious of the quality of the items they buy. Different questions arise from buyers who are seeking precious diamonds. They want explanations as to why a small diamond is much more expensive than the other one.
Consequently, after unwanted cases of fake and unreal diamonds, customers today are more familiar and aware of what the 4Cs are about. Jewelers now think about supplying this information as a vital part of their sales technique. Extensive training programs are now available to stress the significance of giving self-regulating gemological reports for jewelry and gems aside from educating the consumers.
A long time ago, there was no name or history for a gem. The final user or the end buyer doesn’t know where it was found or it came from, who made it, who extracted it, not even the dealer’s name. This arouses curiosity in the buyers, contributing to popularity of diamonds as well as the gemological report.
Because buyers are now looking for this, the Gemological Institute of America or GIA was formed. It is the largest and highly respected nonprofit institute in the field of gemological research and learning. It was established in 1931 with the mission to ensure public confidence in jewelry and gems by keeping the highest principles of academics, science, professionalism, and integrity through research and education.
Due to high competition and the need for high-quality loose diamonds and gemstones, many gemstone and diamond fanatics have been very keen and careful in buying these precious stones, purchasing only from highly recognized institutions in this field. To prevent the Gemological Institute of America from monopolizing the gemstone and diamond market, several institutions that aim to compete with GIA were also established.
To date, the Gemological Institute of America has four strict and direct competitors, which also give diamond grading reports:
Hoge Raad Voor Diamant (HRD)
HRD is the Diamond High Council of Europe. It is popular in the Far Eastern part of the world and almost monopolize the gem and diamond industry in Europe. HRD releases documents recognized and accepted by the different countries of European Union. Loose and polished diamonds are submitted for inspection to the HRD, which, in turn, will release a diamond certificate guaranteeing that the gem or diamond is genuine and real and follows the detailed quality description attached to it. Hoge Raad Voor Diamant focuses mainly on carat, cut, color, and clarity. It was granted the ISO 17025 certification, which means that this institution greatly adheres to the standards of diamonds and gemstones laboratories. To keep up with the standards, HRD continuously do extensive in-house trainings to ensure provision of the highest level of quality and expertise in the field of diamonds and gemstones.
The International Gemological Institute (IGI)
IGI, or the International Gemological Institute, is a remarkable competitor of GIA. It does a huge quantity of diamond transactions, much more than GIA does. Most of its services focus more on appraisal. Established in different places in the world, it is probably the world’s largest gem and diamond certification institute. IGI is highly renowned for its extensive experience and quality service.
The European Gemological Laboratory (EGL)
Providing different services such as diamond certification, diamond consultation, advice on diamond Repolishing, champagne diamond certification, Tanzanite grading (loose and set), the EGL College of Gemology is a gemological institute that aims to provide jewelers and buyers a better understanding of the different kinds of diamonds.
Having served the diamond industry for 27 years, the European Gemological Laboratory sees to it that quality and expertise are superb. Hence, the organization decided to put up their own university. This is to continuously provide diamond and gem education to their students, so that in time, these highly trained individuals will be a part of the institute and will provide diamond grading services to the institute’s clients. However, the standards of EGL are less strict as compared to GIA, so some diamond dealers prefer to get certification from EGL than GIA because diamonds inspected at EGL are usually given higher grading.
The American Gemological Society (AGS)
The AGS, or the American Gem Society, was founded in 1934 by a selected group of jewelers working with Robert M. Shipley, the founder the Gemological Institute of America (GIA). With the vision of creating an institution fully dedicated to providing highest possible standards in the jewelry industry, AGS sees to it that the needs of their clients are met with certain degree of professionalism and ethics. The American Gem Society focused traditionally on cut grade, which other institutions have not. AGS believe that this is necessary to market high-end merchandise.
Diamond prices are based on their quality grade, usually based on the 4Cs. Unless a dealer gives you a diamond or gem certificate, what you are buying is probably not genuine or of good quality. Do not simply trust local labs since these small labs are often affiliated to some diamond stores; there is connivance in giving the diamonds higher grading. Trust only the respected institutions in this field such as the above-mentioned organizations. They may be competitors of GIA, but they are still reliable compared to others that are not recognized.
Diamonds and gemstones may not be as good investments as real estate or bonds or stocks, but these shimmering items are still worth a fortune and may still be called investments. Protect them by getting a certificate from your dealer; this way, you are sure that you will get your money’s worth when time comes.
A certification enhances the gratification and pleasure of a treasured gift. It adds distinction and assurance in whatever you buy. Diamonds and gemstones are unique and rare. Since time immemorial, diamonds and gemstones have been mined and considered as one of the most prized possessions on earth. There is no questioning of the fact that they are not just forms of adornment but definitely great additions to luxury and elegance.
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