When purchasing or selling your diamond having a it certified can increase the value. But not all Diamond Grading Labs grade diamonds to the same standard. A diamond grading report not only provides you with a blueprint of your diamond’s properties and characteristics, but also verifies the diamonds authenticity. As a buyer or seller, understanding your diamond lab report, can inform you of your diamond’s true value. Diamond Banc of Kansas City will educate you on exactly what kind of jewelry you have.
Differences in Diamond Grading Labs
There are many different diamond grading laboratories around the world, but not all laborties are created equal. Different institutes may have varying results on a report, even if they grade the same diamond.
The Gemological Institute of America is the world’s most undisputed authority on diamonds. GIA is non-profit. So, it provides dealers and consumers with non-biased, conservative and consistent grading. This lab is the most trusted and widely used because many other labs are for-profit. Thus, they are usually more liberal in their grading. When purchasing a diamond, many consumers want a certified diamond, but do not know there is a difference between each lab report. Many retailers do not explain the differences in labs because it will affect what the customer is willing to pay. This is why having an understanding of your diamond lab report is important. Here are several examples:
The International Gemological Institute(IGI) is the second most well-known lab in the world. In both reports the clarity grade came back lower from GIA. This makes a big difference to the value of the diamond.
The European Gemological Laboratory(EGL) is known within the industry as being lenient in their grading. In this example color and clarity are both one lower in the GIA report. The EGL report led the customer to believe they were purchasing a higher quality diamond. While in reality, they most likely overpaid for the diamond.
Diamond Banc of Kansas City is here to help!
Knowing the true value of your diamond is extremely important. That can start with understanding your diamond lab report. Diamond Banc does not require a GIA lab report, but can assist in determining the accuracy of a report or appraisal. Diamond Banc will show customers comparable GIA graded diamonds on the wholesale market, in order to determine the diamond’s true liquid value. If you are interested in selling, Diamond Banc of Kansas City has Diamond Experts to take into account all value adding factors to get you the best price for your diamond. There are two ways to get the process started. Fill out an online submission or schedule a visit to the Kansas City office, located at the Country Club Plaza.