Diamond grading reports verification

[casanewt]

Hi there,

I recently had a client in for an appraisal of a new diamond purchase. The loose stone was purchased from a reputable diamond company out of New York (according to the client -one that Rapaport suggested). It is also a company that I have heard good things about…

The diamond was a 2ct round brilliant, VS2, excellent cut. The Diamond report (not GIA lab) stated “F” for the color. I graded the color as a low “H”. I know that some reports can be off sometimes…

My question is – Isn’t there some kind of “checks and balances” that these companies should perform on these diamonds, rather than assuming that the report is accurate??? Do they check a certain percentage? I would think that stones over 2 carats should be highly regarded.

What are your thoughts?

Thank you,

Katy B

 

[denverappraiser]

Hi Katy,

Rapaport recommends particular sellers? This surprises me.

As I’m sure you know, there are lots of ‘certified’ stones out there where the documents are fantastically deceptive. I see them regularly and I’m sure you do too. It’s up to the jeweler to decide if they want to carry this sort of merchandise and whether they want their own good name associated with it. These documents tell you far more about the selling jeweler than they do about the diamond. For some it’s the whole point while others find it to be a terrible embarrassment. Apparently that particular jeweler either doesn''t have sufficient internal systems to prevent selling of misgraded stones or they choose to do so deliberately. They should have a trusted grader look at every stone they sell. If they find they are relying on the opinions of a particular lab or grader that turns out to be inaccurate they should find an alternative strategy. It is, of course, up to them to decide how to handle this. ''Don''t ask - Don''t tell'' is a pretty common solution. How they react to the customer complaint will give another hint into the style and character of the store.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[oldminer]

We are confronted all the time with large retailer users of non-GIA reports seeking to have my lab liberally grade diamonds in a way that they can sell them and so that they are cheap enough to make extra money on. At the same time their vendors want us to liberally grade their diamonds too so they can deliver off graded merchandise to the seller. Guess what?, Both sides want to put my lab in the middle as the fall guy in case the s*** hits the fan one of these days.

It isn''t worth the risk, the way I see it. Yet it is all too commonplace for exactly this nonsense to go on. Do I see the known culprits who do this on a daily basis with huge volumes going to court or to jail? No!. Am I jealous? No!. But I am annoyed and upset that consumers can''t all get the message to be aware that not all labs grade equally. The more consumers who find this out, the better off the entire business will be for the honest guys who deserve and need your business. The crooks have had a field day for years and years at the expense of naive consumers and a silent majority in the trade.

No one wants to be the whistle blower. There will be huge animosity aimed at such a firm or person who puts names to the accusation. I admit I have been unwilling to do it myself, but I am not afraid to tell people to generally stick with the two major US labs which nearly all Pricescope diamonds have been examined by.

A good friend of mine from another lab, a big and fine operation, but not GIA or AGS, has had big problems with a major clients over his strict grading both from the firm itself and from their vendors. He may lose the deal with the firm over it. He''ll be losing the deal because he puts honesty and integrity first. It is a shame that honesty and integrity are not among the highest virtues, but money does talk in our society. Just play it safe and be aware.