NEW YORK (PRWEB) June 28, 2018
A lot goes into purchasing or selling a diamond or a precious stone. Fima Kandinov, Luriya’s CEO and expert appraiser, discusses the importance of gemstone certifications and certificates of authenticity.
“When buying or selling diamond rings, precious stones, or other precious metals, it is essential to understand that every diamond should be equipped with a gemstone certification – a document of authenticity that provides a detailed description of the value of a precious stone. This document should also determine a precious stone’s rarity, quality, and general markup,” says Kandinov. Industry leaders such as the Gemological Institute of America (GIA), the International Gemological Institute (IGI), the American Gem Society (AGS), and the European Gemological Laboratory (EGL) are all trusted certifying bodies that use their own grading systems. “Each of these laboratories have their own grading categories meaning that a report for the same precious stone may vary from lab to lab,” says Kandinov.
Another benefit of having a certificate of authenticity is to ensure that your diamond is exactly wat your jeweler describes it as, and, should you ever choose to sell it, a certificate will guarantee you a higher resale price. “Each laboratory offers a different area of expertise,” explains Kandinov. “Therefore, it is important to know what’s out there, what’s trusted, and what’s reliable.”
So how do I choose between these certifying bodies?
The IGI, or the International Gemological Institute, is one of the largest of its kind. With laboratories around the world, its primary location is in Antwerp, Belgium. While the IGI is extremely reliable and widely used, it is most popular in Asian countries.
On the other hand, the EGL, or the European Gemological Laboratory, is highly popular in most European countries, but its main office is located in New York City’s Diamond District. The EGL is well known for its large global presence and for researching and executing diamond grading techniques for stones that weigh less than one carat.
The American Gemological Society (AGS) is a respected organization around the world and is recognized for its scientific research and original approach to grading diamonds on a numerical scale as opposed to an alphabetical one. The AGS’ main office is in Las Vegas.
“While other certifications are reliable and widely accepted, Luriya prefers to see a certificate from the GIA,” says Kandinov. The GIA, more formally known as the Gemological Institute of America, is the world’s most prominent authority when it comes to diamonds, colored stones, and pearls. Other than diamond grading, the GIA conducts a large amount of research and provides a variety of educational resources as well.
The GIA’s mission is “to ensure the public trust in gems and jewelry by upholding the highest standards of integrity, academics, science, and professionalism through education, research, laboratory services, and instrument development.” With locations around the world, including NYC’s Diamond District, the GIA has over 3,000 employees including scientists, educators, and certified diamond graders.
“When selling diamonds or any other precious stone or metal, it is of utmost importance that you do a little bit of research first before going into any type of transaction. Having a little bit of know-how will go a long way and will warn you of any dubious deals that might undervalue your product – knowledge and vigilance is key,” Kandinov concludes.
Let Luriya and its 25 years of experience help you in determining the price of your diamond. Visit http://www.luriya.com and schedule an appointment today.