GIA M2M: tracking rough>polished>consumer

[Garry H (Cut Nut)]

http://www.diamonds.net/news/NewsItem.aspx?tc_dailyemail=1&ArticleID=59036

"These initiatives, which the GIA says could change the way diamonds are sold and monitored, are making the laboratory an unlikely frontrunner not only in diamond-grading, but in the drive to keep better track of diamonds and to tell their stories."

 

[pearaffair]

As a budding gemologist and librarian, this is fascinating to me! RFID technology is already being used in the library world. I see this as a really neat element to bring into the diamond world. Thanks for sharing!

 

[LightBright]

M2M is an interesting concept. I think it would be possible to digitize the inclusions, color and graining of a diamond crystal to record a "fingerprint" that can be tracked for the life of the diamond. That's valuable for the industry. To me, a fairly well educated consumer, the technology is interesting but doesn't necessarily create more confidence and keep me coming back for more as the article says. I'm actually not sure what the trade means when it talks about "consumer confidence".

If the trade could use this information to market certain diamond mines, along the lines of the "Argyle Mine" or "Golkonda Mines" that might be more interesting to me. That would truly create a "story", like the article says.

IMO, the consumer will only care about source and story if there are meaningful differences between the color and characteristics of the rough from those sources. We are encouraged as consumers not to care about that, as evidenced that GIA doesn't even qualify the tint of a diamond (green yellow, yellow, brown, grey, etc.) for example. So for now, sourcing diamonds (the origin of the rough) is an industry secret that is really obscured.