A diamond grading report is an essential element when buying a diamond. Basically, it will protect everyone involved in the sale of the diamond by “leveling the playing field” between vendor and customer.
After the diamond has been cut and is ready to be sold, a diamond grading report is obtained by the diamond cutter from a neutral 3rd party. The grading report will then follow the diamond as it moves through the distribution channel.
Do take note that not every diamond may come with a diamond grading report. It depends on how large the diamond is and whether it is economically feasible for dealers to get a certificate for smaller sized diamonds.
Here’s a brief overview of what it takes to get a diamond certified in the labs:
Time – it could take a couple of weeks or more to receive a report depending on the lab and the time of the year. Well known labs like GIA can take up to 1 month in busy seasons where there is peak demand.
Trouble – the loose diamond needs to be packed up securely and insurance has to be purchased. All the proper paperwork needs to be completed before the stone is even delivered to the lab.
Expense – besides the actual cost of the diamond grading report, there are also shipping and insurance charges to and from the lab involved.
Because of these reasons, the cost of sending a diamond to a gemological lab for grading will be added into the price of the diamond.
The Industry Changes As New Technology Evolves
Diamond grading reports are always going through changes as the market needs change. At the time of this writing, AGSL (American Gem Society’s grading lab) is announcing their newest product; a grading report for oval shaped diamonds that will include a diamond cut grade.
Just a few years back, they had started issuing diamond grading reports with diamond cut grades for Round Brilliant Cut, Emerald Cut, and Princess Cut diamonds because the industry has seen an increased demand for cut quality grading.
Having a cut grade on these reports is a great thing because it helps the consumer to compare the quality of different diamonds. These cut grades are a measure of the diamond’s optical performance which is objectively measured by a machine.
In short, grading reports will help alleviate risk to a consumer and help you understand what you are buying exactly.