GIA says the switch to grading lab grown diamonds simply as “premium” or “standard” will take on 1 October.
The lab announced an end to full 4Cs color and clarity reports in June, but did not say at the time when the change would take effect.
In a statement yesterday (26 August) it also laid out the criteria it will use to distinguish Premium lab growns from Standard. Diamond that don’t meet all the minimum criteria for Standard will not receive a GIA assessment.
Premium diamonds must meet all these criteria:
- Clarity – Very, Very Slightly included and higher
- Color – D
- Polish, symmetry – Excellent
- Cut grade – Excellent (round brilliant cut diamonds only)
Standard diamonds must meet all these criteria:
- Clarity – Very Slightly included
- Color – E-to-J
- Polish – Very Good
- Symmetry – Very Good (or Good for fancy shapes)
- Cut grade – Very Good (round brilliant cut diamonds only)
GIA will charge $15 per carat, with a minimum fee of $15. Evaluation fee for diamonds below the minimum criteria is $15.
“Using descriptive terms for the quality of laboratory-grown diamonds is appropriate as most fall into a very narrow range of color and clarity,” said Pritesh Patel, GIA president and CEO.
“Because of that, GIA will no longer use the nomenclature created for natural diamonds to describe what is a manufactured product.”
Meanwhile rival lab IGI (International Gemological Institute) insists it will carry on with 4Cs grading for lab growns “to prevent industry and consumer confusion”.
Source: IDEX