Quick Question RE Diamond Grading Labs...

[tlh]

So my friend is getting ready to pull the trigger on his purchase for his FI, and he wanted to know about the diamond grading labs. He is looking at RB shapes. I don''t have a lot of knowledge beyond what is available on PS including http://diamonds.pricescope.com/labs.asp so I am not able to give him much info on the labs beyond this linky. I had sent him some beautiful stones online, but he wants to purchase from a B&M, and this was his question as he says all the stones the stores have shown me so far have been pretty and sparkly... so how do I know I''m getting a good one? (I''m walking him through some of those questions, but since I''m a distance away I''m having to help him virtually...)

My question is ....

Would you purchase a diamond that you''ve seen and held that was certified by IGI or EGL? Or would knowing that the lab may be "softer" when compared to HRD, GIA, and AGS be an issue for you?

 

[Ribbon Ring]

You really can't talk about EGL as one lab, as there are many around the world. My own research, as opposed to actually looking at the diamonds from various labs, seems to indicate that EGL USA is the best of the EGL labs. From what I've read they are accurate, despite what some will say, but on closer calls they will tend to err to a higher grade than AGS or GIA. So when I was shopping I assumed the colour was one grade lower than it was certed at if it was EGL USA.

 

[oldminer]

When buying a diamond, it is always good to attempt to buy it for one color grade lower than the document. If it is a GIA or AGS graded diamond, all you can do is to make the effort, but it is likely that the diamond will meet the GIA standard. With an EGL-USA document, you will likely find the asking price is somewhat less to begin with and the liklihood of one grade less in color is far greater. Still, makng the effort to pay less yet can''t be harmful. Once in a while the EGL-USA document is dead on and the bargain is then better than GIA or AGS situations. However, this is luck of the draw and can''t happen by design or under your control It is accidental.

Expect deeper discounts and greater softness on color from Foreign EGL and IGI reports. Initial prices should be lower yet, but they may not be the first go around. The seller may be testing your willingness to haggle. Go ahead and haggle away on diamonds with non-GIA or non-AGS reports. It is your right to make an offer so long as you want to buy the diamond and are willing to take a larger risk. The risk is on the BUYER.

Playing it safe has a lot more appeal for the majority of people. Diamonds with no documents at all can be equal in quality to any lab graded stone, but who promises it? The seller? His own GG or his appraisal lab that he walked you into down the street from his sales office? Risk or the avoidance of risk is the real issue. You know how to play it safe and there are ways to potentially win, but they come with obvious and inherent added risk.

 

[tlh]

Date: 5/21/2009 4:32:20 PM
Author: oldminer
When buying a diamond, it is always good to attempt to buy it for one color grade lower than the document. If it is a GIA or AGS graded diamond, all you can do is to make the effort, but it is likely that the diamond will meet the GIA standard. With an EGL-USA document, you will likely find the asking price is somewhat less to begin with and the liklihood of one grade less in color is far greater. Still, makng the effort to pay less yet can''t be harmful. Once in a while the EGL-USA document is dead on and the bargain is then better than GIA or AGS situations. However, this is luck of the draw and can''t happen by design or under your control It is accidental.

Expect deeper discounts and greater softness on color from Foreign EGL and IGI reports. Initial prices should be lower yet, but they may not be the first go around. The seller may be testing your willingness to haggle. Go ahead and haggle away on diamonds with non-GIA or non-AGS reports. It is your right to make an offer so long as you want to buy the diamond and are willing to take a larger risk. The risk is on the BUYER.

Playing it safe has a lot more appeal for the majority of people. Diamonds with no documents at all can be equal in quality to any lab graded stone, but who promises it? The seller? His own GG or his appraisal lab that he walked you into down the street from his sales office? Risk or the avoidance of risk is the real issue. You know how to play it safe and there are ways to potentially win, but they come with obvious and inherent added risk.

Thanks. I''ll let him know what you advise, and the potential risks. So it sounds like there is some wiggle room in color. Is there also the same wiggle room in the grades w/ clarity?