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- Oct 21, 2004
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Interesting view....
"The Difference One Decimal Can Make
“A calculation on the back of an envelope will show that every year the worldwide diamond industry loses approximately $100-$135 million because of the (highly unjustified) practice of gemological laboratories only giving a diamond''s weight to the second decimal point. Every third decimal point that weighs less than 0.009 is rounded downwards. If you have a $3,000 p/c stone that weighs 0.505 carat, the GIA’s or any other certificate will say it weighs 0.50 carat. In this instance the seller loses $15 since in fact, the true price for the stone should be $1,515. The seller is losing almost 1 percent of the value!......”
http://www.idexonline.com/portal_FullEditorial.asp
"The Difference One Decimal Can Make
“A calculation on the back of an envelope will show that every year the worldwide diamond industry loses approximately $100-$135 million because of the (highly unjustified) practice of gemological laboratories only giving a diamond''s weight to the second decimal point. Every third decimal point that weighs less than 0.009 is rounded downwards. If you have a $3,000 p/c stone that weighs 0.505 carat, the GIA’s or any other certificate will say it weighs 0.50 carat. In this instance the seller loses $15 since in fact, the true price for the stone should be $1,515. The seller is losing almost 1 percent of the value!......”
http://www.idexonline.com/portal_FullEditorial.asp