WHAT ARE THE PITFALLS?
At their best, grading reports will give the lay person some information by which to evaluate the quality of the diamond. But when you are new to the field, as most people buying an engagement ring are, they can confuse more than enlighten.
Here’s why:
Art not Science
Grading diamonds is an Art, not a Science, the standards are set at different levels by different grading bodies. There are a number of different grading bodies and they have their own examination standards for grading qualifications. Not only that, diamond grading depends on an individual’s interpretation of those standards so there is variation even among members of the same organisation. For the layperson, the danger is that you end up not comparing like with like.
Over-Grading
In recent years the industry has seen over-grading in some quarters and by some grading bodies. This undermines confidence in the whole process and could make a ‘certificate’ almost worthless. While some of this is fraudulent, much is down to the different standards of each body.
'Selling the Certificate'
Some retailers, especially online are, in effect, ‘selling the certificate’ rather than the diamond itself. These retailers are middlemen between the diamond merchants and the consumer and may never actually see the diamond. As the consumer is not an expert, he or she can’t really know what they are buying and the entity selling to them doesn’t always know either.
Not an Ethical Guarantee
A grading report does not mean that a diamond has been ethically produced, and it certainly does not even guarantee that the diamond is truly ‘conflict-free’. This is because the problems and holes in the Kimberley Process, which was supposed to address the serious issue of ‘blood diamonds’, mean that stones from undesirable sources can enter the supply chain at every level.
Value Trade-Offs
A grading report cannot give you any idea of ‘value for money’ or help evaluate the trade-offs which are always possible between one stone and another to enable you to get the best for your money.
In-House Reports
Many High Street jewellers and online retailers don’t offer independent grading reports with their diamonds, relying on in-house reports. These have no objectively verifiable criteria at all and the consumer can have no redress as grading is then a matter of opinion.