Amidst some controversies regarding GIA certificates that are being sold in China and Hong Kong for as low as USD 80 – 100 resulting in an apparent scam and leading to some diamantaire stating that GIA or any other grading reports are of no use, several recent developments have happened in diamond grading scene.
De Beers extends its diamond grading services
De Beers’ unit – The International Institute of Diamond Grading & Research (IIDGR), which also provides diamond detection machines, has launched its diamond grading services for earth-mined and untreated diamonds in Far East, Middle East, India and Europe. After conducting a pilot in the Far East, IIDGR will be providing the grading service from its labs in Belgium, India and UK, using its proprietary technology, which is suitable for all diamond sizes, colors, shapes and quality. Till now, IIDGR had limited its diamond assessments to its group brand – Forevermark, but decided to expand its services and expects to be global operation in future.
Rapaport launches new diamond grading report for investments
Rapaport group launched a new diamond grading report – Rapaport Investment Diamond Report (IDR), which grades diamonds based on GIA standards and gives additional gem info including tint, inclusion location and color, high resolution images etc. However, IDR will be issued only for best quality diamonds that are round, 0.5+ carats, D-H, IF-VS2, excellent cut, polish and symmetry and meets Rapaport Specification A1. Gemologists at Rapaport believe that these specs threshold meet the investment quality standards and
IDR is “designed to identify the best diamonds in the market while providing the trade, investors and consumers with the highest level of confidence in quality. It will enhance the ability to trade diamonds electronically and enable new highly liquid and efficient investment diamond markets.”
IDR will not be issues for diamonds that lack overall brilliance, have features limiting trade liquidity or have borderline grades. Besides, all IDR will be accompanied by an additional independent GIA diamond grading report and thus will be double tested. This service is seemingly a prelude to the planned diamond exchange by Rapaport – RAPX and a futures and derivatives platform for diamonds.
GIA grades largest HPHT Lab-grown diamond till date
New York-based The Gemological Institute of America (GIA) has graded an emerald cut, 5.03 carats, Type IIb, HPHT Lab-grown diamond, grown by St. Petersburg based New Diamond Technology (NDT), which is a founding member of recently launched International Grown Diamond Association (IGDA). The examination, which took place in January graded the diamond as fancy deep blue. This was the largest HPHT Lab-grown diamond graded by GIA till date. However, the largest faceted colorless HPHT Lab-grown diamond – a 10.02 carat, E, VS1 stone, grown by NDT only, was previously graded by Hong-Kong based IGI in 2015.
New players entering the scene and extension and expansion of diamond grading services are evolving the Gem-lab sector.