DearFriends,Iam sending you this email due to my deep concern about the systematicover-grading of diamonds – over 100,000 over-graded diamonds valued at morethan one billion dollars.
Attached,please find a detailed article dealing with the issue. Additional informationis also provided
Essentially,EGL International has been providing grading reports using GIA terminologywhile applying alternative standards that overstate diamond grades. A recentlawsuit claims that diamonds graded as G color were in fact M and N colors.When challenged, EGL International announced in a press release that, “there isno single, international standard for diamond grading that has national orinternational status or acceptance.” I believe that this statement is false andfully support the GIA standard as defined by the GIA Gem Trade Laboratory.
Therampant over-grading of diamond quality hurts consumers. It is a significantthreat to the integrity and legitimacy of the diamond industry. It must be stopped.
Iam shocked that numerous dealers and retailers continue to sell over-gradeddiamonds. I urge you to take action by personally contacting the leaders ofdiamond and jewelry trade organizations and asking them to implement thefollowing trade rules:
1. Recognize that it is an unfair tradepractice to sell diamonds using GIA terminology while applying alternativegrading standards that overstate the quality of a diamond.
2. Define over-graded diamonds asdiamonds graded using GIA terminology that, when verified by the GIA, are morethan one color or one clarity grade lower than the original grade.
3. Make suppliers responsible for whatthey sell. Require sellers to provide a full refund in the event that they sellover-graded diamonds. Failure to provide the refund, or the continued sale ofover-graded diamonds, should result in the member’s suspension.
Iencourage you to read the attached article and share it and your views viaemail, social media and the diamonds.net/honestgrading webpage. Given theimportance of the issue, permission is hereby granted to freely redistribute myarticle.
Mostimportantly, I urge you to personally contact the officers and directors ofyour trade organizations. Send emails and use your connections to request thatthe organizations take action. Please
onthese emails as this will help us encourage our industry to ensure fair gradingstandards.
Itake this opportunity to wish all our friends a successful and prosperousholiday season.
Regards
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