egl vs. other labs

[lilyeternity]

I have been noticing that the diamonds with egl certs are MUCH lower in price than a diamond with either a GIA or an AGS - can anyone explain the GREAT differences in price???

 

[valeria101]

Have you seen this Gradind Lab Survey ? Based on lab stats alone (as the listings in the Pricescope database come), there already are serious price defferences between stones that "sound" the same. The several quotes for each stone can be quite a far apart as well... let alone any differences that have any substance at all. There are typos out there too !

Lots of ways to justify price differences in general. Do you have a certain case in mind ?

 

[diamondsbylauren]

Thru the years EGL has earned a reputation for .....innaccuaracy.
Results of the PS study not withstanding, the trade themselves feel that EGL is not dependable- therefore, when buying diamonds with EGL reports, most diamond dealers figure down a grade on color and clarity.
For example: if EGL gives a diamond G/VS2, most dealers assumethe diamond is H/SI1-and will price it that way- that''s IF it looks like a G/VS2.
If it looks worse then the price will be even lower.

I would keep this in mind- If a diamond is lesss expensive- say it''s smaller than 1.00, or lower than say H color, then the use of EGL is more acceptable.
The reason- the lower colors are far less expensive, so the buyers are less particular.
If someone is offering a 2.00 D/VS1 with an EGL report- I would look very closely at the stone and the dealer offering it.
Who are they trying to fool?

 

[oldminer]

David: I think EGL is not trying to fool anyone, however their standards must be somewhat different than the GIA, It is all too easy to say they are innaccurate, when it the way the trade treats their papers is to just discount the price of diamonds with their reports to meet what are the perceived standards EGL uses. Where EGL is the weakest, the prices are most discounted. Where they are most reliable, the prices are not much discounted.

I would say that a few retailers are really the ones trying to fool people with EGL reports by implying that no matter who graded the stone, the grades are GIA equivalent. They might occasionally be equivalent and who is to say? That''s where the fooling is taking place, from retailer to consumer. No one else it being tricked at all.

I''d bet you can buy an EGL diamond without any problem since you know how to grade diamonds. A good value is agood value, and the EGL report can be tossed away if a dealer wants a different lab report. Only the consumer can be tricked or fooled.

We warn people to compare apples to apples all the time and that all labs do not produce identical results. I think it is an oversimplification to imply that EGL is tricking anyone, when it is knowledgeable dealers using such reports in order to trick naive consumers. These dealers are to blame for an abusive behavior and they know full well what they are doing.