I was confused about a situation a friend of mine is involved in and am reaching out to the diamond industry to help me out:
I bought a 5ct diamond, submitted it to GIA headquarters in Carlsbad for a certificate. 8 months later and I have spent thousands in attorney fees, in CA and NY fighting for my diamond becuase GIA will not give it back to me.
A jeweler from NY who was previously arrested in India for smuggling diamonds, has reported a diamond stolen (with no insurance). My diamond was withheld for being substantially similiar to this reported diamond.
So my questions are as follows:
Is this a loophole for fraud minded jewelers to get their hands on diamonds?
Would it be possible that the jeweler smuggled a diamond abroad (like previously) sold it, and then reported it stolen since there was no documentation of the diamond?
Why would GIA confiscate a diamond that was reported stolen with no evidence, insurance, nor a recent GIA certificate (might even be a duplicate certificate)? obviosuly they do not do background checks to see if the reporting party would or has been in this situation before.
I recently read a memo about Duplicate GIA certificate, could this be ine of them? it took GIA a long time before they changed their policy, why have they not changed the policy of how they handle reported stones.
If I would be in the other persons shoes and GIA sent me a letter, telling me where and who might have a similiar diamond, then if it actually did get stolen/lost then I would go after them myslef. Why does GIA need to be involved?
Please contact us by e-mail and we can explore whether we can assist.
Jacqueline ReardonDiamond Intelligence Briefing
See Direct Shopping Network (DSN) Andesine Class Action V Robert James International School of Gemology.
Does anybody have a statistical overview of 2009 (market share).
I can't seem to find one anywhere.
Market Share of Producer Companies
Market Share of trading Centres (rough/polished split)
Market Share of trading companies
Market Share of Banks
Yes, we have.
You can contact us on firstname.lastname@example.org
In reply to this week's Memo by Chaim titled " GIA's Indian Papers " 25th February 2010 : " The rumor mill about the quality of GIA India certificates started almost from the very moment that the diamond-grading lab in Mumbai opened "
Since GIA's failure to name the GIA bribers during the Certifigate fiasco is it any wonder that rumours are rife about GIA grading reports ?
GIA has itself only to blame for not bringing closure to this issue.
However my main concern is the actual accuracy of colour grading and clarity grading. There are inconsistencies.
Since the advent of so many online diamond vendors, GIA grading reports have become regarded as the " internet certificate ".
Many of these diamonds are the ones rejected by dealers and palmed off on the internet... the "seconds "...the ones that have fallen throught the net and especially in Hong Kong then dumped elsewhere.
In Australia I often lose sales when a client insists GIA grading reports are checked again by the International Diamond Council diamond grading laboratory the Diamond Certification Laboratory of Australia ( DCLA ) of which HRD is also a member.
It's a telling sign in itself when clients want to be reassured by questioning GIA grading reports.
It seems more often than not, most GIA diamond colour grades in particular are one colour better than the DCLA or HRD colour grades.
Often fluorescence is an issue. An E colour with medium blue flurorescence often becomes a GIA D colour. I have proved this to myself again and again.It's an easy way to make money without breaking the rules but not exactly ethical and not helpful if GIA is to be respected for it's integrity.
However whenever I purchase a GIA graded D colour diamond under one carat from and Indian source, diamonds are often genuine E colours upon rechecking at the DCLA.
There is a Laboratory Manual Harmonization Committee of which most of the leading diamond grading labs are members.
Different diamond grading labs have their own grading parameters.
Why can not a uniform international standard be applied to colour grading amongst all these organisations ?
What is the purpose of the LMHC ?
My potential clients immediately lose confidence at these discrepancies especially when they are told ad nauseum that GIA is so well respected in addition to comparing other graded diamonds from other diamond labs.
To summarize, both vendor and buyer are disappointed.
Where is the consumer protection ?
GIA needs to lift their game if they are to be respected and trusted if they keep insisting they are " the foremost authority in gemology "
Daniel F Katz GG
In regard to Obert Mpofu : What is mined is your's and what is your's is mine !
China seems to be the the catalyst here unashamedly exploiting the resources for the benefit of the Zimbabwean elite showing no care for their own people.
Is this what diamonds do for poor people ?
What chance have the World Diamond Council to monitor conflict diamonds from Zimbabwe when dealing with a Zimbabwean minister that ignores his country's judiciary in fear of his country's army constant threat while China remains the beneficiary at the expense of the indigenous population ?
It is time the World Diamond Council and the World Federation of Diamond Bourses starts putting more pressure on members of the Shanghai Diamond Exchange and stop pretending SDEx is not part of the equation.
Boyajian's milk of amnesia for those who can still remember the GIA grading report bribery scandal over which Boyajian presided at GIA, confirms there must be commercial pressure on all labs to upgrade marginal stones or lose business to other labs who are prepared to reduce standards. AGS states " The AGS Laboratories, created in 1996, is committed to protecting the consumer by providing unbiased reports based on the highest standards of diamond grading." So why in hell's name would AGS want to be remotely associated with Boyajian ? It's laughable but still an annoying reminder to those of us who know better. The apathy of the jewellery industry has only itself to blame for the harm to it's fragile reputation by it's continued silence and not letting AGS know your objections to this ridiculous situation of Boyajian's ressurrection. We have removed all AGS logos and AGS graded diamonds from our website.It is just too embarrassing.
are rubies expensive than diamonds
I guess since I'm a "Baby Boomer"(63) ,I'm NOT too well versed in these new millenium cybernetically inclined "Internet" procedures, and there is No Way N' Hell that I can find a Rough Diamond Grading School in our old US of A. Can anybody recomend one?
Thank You all, and Merry Christmas.
Here is to an open and productive forum on the important issues of the day, which hopefully won't be shut down like some were.
Cheers...., I will drink to that ;-)
We invite you to participate in our forum designed to allow discussion of the global diamond industry and the issues affecting it.
Before posting to the forum, please make sure to read the Forum Rules.
www.diamondintelligence.com Forum Management