A lot of news lately about lawsuits and potential lawsuits involving jewelers who sell diamonds that have EGL diamond grading reports.
A customer looked at a diamond in our store recently and then proceeded to tell us that she could get a similar diamond somewhere else in Springfield, MO of a certain color and clarity but at a lower price than our diamond. The price did not make sense to us, so we asked her to find out who graded the diamond and to let us know. She then came in later and told us that it had an EGL diamond grading report. Valerie then told the customer to google EGL grading reports for herself. The EGL is not the same as the GIA. The GIA created the system that is used today and Valerie has been a graduate gemologist for over 30 years.
Established in 1931, the GIA is the world’s foremost authority on diamonds, colored stones, and pearls. A public benefit, nonprofit institute,the GIA is the leading source of knowledge, standards, and education in gems and jewelry.
Martin Rapaport, as of Oct 1, 2014, decided to no longer use any grading reports from any of the European Gemological Laboratories “EGL” RapNet is the largest online diamond trading network that allows diamond trade professionals to buy and sell diamonds online.
The EGL is not the only company that grades with very lax standards.
We at Manoli’s Jewelers prefer to use GIA and AGS diamond grading reports in our store. If you have any questions about this diamond grading issue contact us at 417-882-0394.