March 23, 1999
GIA Responds to Lazare Kaplan, Pegasus Diamond Process
The Gemological Institute of America issued a stark response to an announcement about a new diamond process by Pegasus Overseas Ltd., criticizing the company for failing to bring the enhancement to GIA's attention.
Pegasus Overseas, a subsidiary of Lazare Kaplan International Inc., says the process enhances certain characteristics of natural diamonds. LKI and Pegasus Overseas cite proprietary agreements with General Electric, the inventor of the process, as the reason they won't disclose what the process entails or its specific effects on diamonds. (Read more about the companies' announcement here.)
In a press release, GIA says it shares the industry's concerns about the announcement and calls for immediate information to provide identification criteria.
"It is usual for GIA to be consulted well in advance by firms involved in gemstone treatments. I see this situation as no exception," says William Boyajian, GIA president. "Early consultation is a vital stage of the disclosure process. Due to such scant information, GIA has yet to discover any conclusive evidence to identify this treatment. The ability to identify the treatment and ultimately identify diamonds treated by this process is the diamond industry's business. If diamonds are treated in any way, then the trade has a right to know and ultimately so does the consumer."
- by Robert Weldon, G.G.