Wednesday, April 9, 2014

EGL vs GIA diamonds

We recently returned from a trade show in Chicago where the hot diamond topic was again EGL vs GIA lab reports and what is means for today's retailer and consumer.

In a nut shell, the consumer needs to know what they are buying when they hear the that the diamond they are purchasing comes with a "lab report" or "cert". Not all reports are created equal!

First, a diamond is graded by humans - which means that mistakes are made. Humans make mistakes at all labs, it is unavoidable because you are using humans and not machines (thankfully!).

Second, a diamond does have inherent value. Therefore even if you have no intention of selling your diamond later or even upgrading your diamond, it is still important to get good value for your investment at the time of purchase.

Third, a diamond's 4C's (cut, color, clarity and carat weight) are major factors when determining pricing. Not just to a consumer purchasing a diamond, but also the wholesale price of that diamond to the jewelry retailer. Different laboratory reports determine color and clarity differently, yet most use the same terminology. This leads to price confusion. You cannot simply compare two diamonds with two different laboratory reports. No wonder peoples' heads spin when they buy diamonds!

Here is a link to a short video produced by TruthAboutDiamonds.com. The video does a nice job of explaining why consumers don't compare "apples to apples" when they shop EGL vs GIA diamonds.

The video can get a bit technical and it's over 9 minutes long. So if you want the punch line, look at 4:30 and again at 9:12. 

Punchline: "GIA diamonds will always be cheaper for the exact same stone." (His words, not mine!)


At St. John & Myers Jewelry, when we sell a certified diamond, we only sell GIA and AGS reports. Not every diamond that comes our way meets our rigorous standards. Here is another short video from an English retailer who agrees with our decision to not sell diamonds with certain reports. If the first video made your head spin, this one presents in a more simplified way.
 

Remember, when you are next in the market for a diamond, do yourself and your budget a favor. Work with a locally owned, independent jeweler. And then, do your homework. Not all reports or retailers are created equal! St. John & Myers was recently named one of America's Coolest Stores by national publication, InStore Magazine. 

At St. John & Myers, we would love to have you visit the store, see our selection, ask questions and make an informed investment in your next diamond!