The sixth and seventh installments of my “Top Ten Tips” to buying jewelry is about two frequently confused, but very important documents – Certificates and Appraisals.
Both of these documents have an important, but distinctly different purpose. The confusion surrounding them has led to many misinformed buying decisions and their abuse has fueled negative consumer perceptions of the jewelry industry’s integrity. A clear understanding of each documents purpose and limitations is absolutely critical to making an informed jewelry purchase.
Certificates
Although they are, in my opinion, equally important when buying a major colored gem such as a diamond, I will focus on the diamond certificate or “cirt” as they are commonly called because they have become such a major part of the diamond buying process. A diamond certificate is actually a diamond grading report (or diamond quality report or diamond certificate report), done by an independent gemological laboratory. The purpose of these reports is to provide an unbiased, independent opinion of a diamond’s quality. I say opinion because no two diamonds, or gemstones, are ever exactly identical. every diamond is unique, so diamond or gemstone grading can, within certain establish guidelines, be somewhat subjective. That said, the value to the consumer of a diamond whose grading has been determined by an independent laboratory, with no interest in the sale of that diamond, is obvious.
All grading reports are not equal. The three most common labs are American Gem Society (AGS), Gemological Institute of America (GIA) and European Gemological Laboratories (EGL). AGS and GIA are considered the strictest, and EGL believed by some to be more "relaxed" in its grading. We use all three labs, but I prefer AGS or GIA in that order. Any diamond that has a grading report from another lab, we consider it a “non cirted” diamond and disregard the report.
A diamond report will give you the following information:
• The weight of the diamond in carats.
• The diamonds measurements in millimeters.
• Information on the diamond's proportions, which is important in determining the quality of the diamonds cutting.
• An assessment of the diamonds symmetry and polish, called finish, which is also important in determining the quality of the diamonds cut.
• The diamonds color grade.
• The diamonds clarity grade.
• Any other general characteristics the grader feels are important and should be noted.
• A plot, or map, of the diamonds clarity characteristics.
A diamond report will not give you the following information:
•The diamond's value. Any grading report with a dollar figure is an appraisal and should be treated as such; more on that subject in part two about appraisals.
•If the diamond is beautiful. There are retailers out there that want you to believe
that the only two things one needs to see when buying a diamond is the grading report and the price. The internet diamond business is built on this false premise. In the industry it is called buying the paper. I have seen plenty of great looking lab reports that went with unremarkable looking diamonds and as many mediocre looking lab reports that went with spectacular looking diamonds. I don’t ever buy a diamond based on its report and price alone. I need to see it and evaluate it for myself before I make any commitment.
A diamond’s grading report, or “certification,” provides important details about the quality and thus the value of the gem. Having this information provided by a neutral third party has become, regrettably, in most cases necessary when making the purchase of a diamond. But, like I have said before on this blog, the only real way to make sure you are getting the very best is to educate yourself, ask questions and take a look at it yourself.
And that is how I see the world of jewelry form Rochester, NY
David West Nytch CGA www.westandcompany.com
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