New York, NY (PRWEB) June 9, 2006
For the first time consumers will be able to purchase diamonds certified by an independent, third-party that shows the source of the rough diamond and the original point of distribution. The unprecedented program, named the Source Veritas(SM) Passport, combines guaranteed grading of quality by a respected gem lab along with unbiased assurance of the origin of the diamond.
"We are giving the diamond a birth certificate, a fingerprint and a guaranteed quality rating for consumer's peace of mind," said Donald A. Palmieri, President of Gem Certification & Assurance Lab, Inc. (GCAL) of New York City, a division of Collectors Universe, Inc. (NASDAQ: CLCT). GCAL developed the Source Veritas ("truthful source") Passport program and has a patent pending.
The new diamond certification program uses GCAL's Gemprint(TM) technology, a laser "fingerprint" image of the unique sparkle pattern of the registered diamond. The Gemprint protects against swapping one stone for another, and also aids in the identification of lost or stolen gems.
Along with the diamond fingerprint, Source Vertias Passports provide assurance the polished diamond was cut from a rough diamond in compliance with the Kimberley Process. The Kimberley Process is a 2003 joint government, international diamond industry and civil society initiative to stem the flow of rough diamonds that are used by rebels to finance wars against legitimate governments.
The Source Veritas Passport is currently being offered to the sightholders (authorized buyers) from the diamond mines who can verify that the rough diamond is compliant with the Kimberley Process.
Since the Kimberley Process stops with final sale of rough diamonds, once a diamond is cut and polished buyers must rely on a system of warranties provided by their sellers. These new GCAL services provide unprecedented assurance of legitimate sources and Kimberley compliance. Because GCAL is not a buyer or seller of diamonds, the assurances provided by the Source Veritas Passport are independent of the distribution chain; an important first for the diamond market.
GCAL formally unveiled the Source Veritas Passport program at the recent JCK jewelry trade show in Las Vegas, Nevada, June 3 - 7, 2006. Diamonds certified under this comprehensive program soon will be available through various participating retailers.
For additional information, contact Gem Certification & Assurance Lab, Inc, 580 Fifth Ave., New York, NY 10036. Phone: (212) 869-8985. Online: http://www.gemfacts.com.