GIA Readies Cut Grade Debut; Makes Other Lab Service Changes


December 22, 2005

GIA Readies Cut Grade Debut; Makes Other Lab Service Changes

On Jan. 1, the Gemological Institute of America will formally debut its GIA Diamond Cut Grading System through new versions of the Diamond Grading Report and Diamond Dossier®. In addition to fresh cover designs, the new reports are formatted to make them easier to read, says GIA. Both contain descriptions of the 4Cs.

The new reports for standard round brilliant cut diamonds falling in the GIA D-to-Z color scale and the Flawless-to-I3 clarity scale will now come with a single comprehensive cut grade. The new reports will also contain illustrations of the diamond's actual proportions along with expanded proportion data.

The introduction of the new reports will be accompanied by new services being offered through the GIA Laboratory, including a new fee schedule, free online diamond grading checks and diamond report reissues and updates.

New Diamond Fee Schedule
A new diamond pricing structure for all laboratory clients will go into effect Jan. 1. "We're pleased to implement this new, single pricing policy to better serve all laboratory clients. We are making this important change to our pricing structure so it more accurately reflects our commitment to treat all our customers in a fair and consistent manner," said Tom Moses, senior vice president of GIA Laboratory and Research.

GIA will discontinue its tiered diamond pricing system in favor of the new single-level pricing formula. The majority of customers will see an overall reduction in fees, it says. In addition, the lab is implementing a new universal flat-fee of $1 per stone for handling fees, replacing previously higher charges for domestic and international materials handling.

"We have done our utmost to devise a structure that is fair to all our customers," said Moses. "But we recognize that the new pricing schedule will result in a modest increase for some customers. Our goal is to continue to build value into the products and services we provide. Moving forward, we will work hard to improve cycle times, enhance customer service and make it easier and more convenient for GIA Laboratory clients to conduct business with us."

The new diamond services fee schedule, along with instructions for submitting stones directly to the GIA Laboratory from anywhere in the world, will be available at www.gia.edu beginning Jan. 1. Customers who have questions can call a GIA Laboratory customer service representative at (800) 421-7250 ext. 7590 (U.S. and Canada.) From outside North America call (760) 603-4500, ext. 7590, to reach the West Coast laboratory or (212) 221-5858, ext. 3724, to reach the New York laboratory.

Free Online Diamond Grading Report Check Service
Beginning in 2006, retailers and consumers can check the information on any GIA Diamond Grading Report or Diamond Dossier issued since Jan. 1, 2000, by visiting www.gia.edu.

The new free online Report Check service will be valuable for people who want to confirm that the grading information in their Diamond Grading Report or Diamond Dossier is consistent with the information stored in the GIA database. The service is available by entering the GIA report number and weight of the diamond, and will provide all of the critical information on the original report, including a cut grade when available. Report Check can also be used to determine if you need to resubmit your diamond for a new cut grade (see below).

Moses said the new service will help dissuade the use of counterfeit GIA reports, and be an important service for the public. "Anyone with a GIA Diamond Grading Report or Diamond Dossier can verify the accuracy of their report information quickly and effortlessly through this new service."

Although the free online Report Check service covers diamonds graded after 2000, any diamond graded before Jan. 1, 2000, can be checked by contacting the GIA Laboratory at (760) 603-4500 or laboratorycustomerservice@gia.edu.

Diamond Report Update and Reissue Services
People who own a diamond with a GIA Diamond Grading Report or Diamond Dossier can submit their old report for a new version. The GIA Laboratory will reissue reports to include the new cut grade for D-to-Z color, standard round brilliant diamonds. An updated format will be reissued following these parameters:

• Round brilliant diamonds graded between Aug. 1, 2005, and Dec. 31, 2005. Return the old report to the GIA Laboratory without the diamond and a new report containing a cut grade will be issued. This service is free through March 2006.
• Round brilliant diamonds graded between Jan. 1, 2005, and July 31, 2005. You may need to submit your diamond to the lab. To find out whether your diamond must be returned, go to the GIA Report Check online service (available Jan. 1) and enter your diamond's report number and carat weight. If Report Check returns a cut grade for your diamond, the diamond does not need to be submitted and a new report will be reissued to you upon request. The fee for this service is $15 through March 2006. If Report Check does not return a cut grade for your diamond, the stone will have to be submitted to the Laboratory for additional measurements before an updated report is issued. The fee for this service is $15 through March 2006, and 75% of the grading fee thereafter.
• Round brilliant diamonds graded prior to Jan. 1, 2005. The diamond must be submitted to the GIA Laboratory for additional measurement information before an updated report with a cut grade can be issued. The new report will reflect the current date, not the date of the original report. The fee for this updated report is 75% of the diamond grading fee.

After March 2006, services will return to standard fees – $30 for a reissued report, and 75% of the grading fee for an updated report. In all cases, original reports must be returned to the GIA Laboratory.

Although fancy-shaped and round-modified diamonds graded in 2005 are not eligible for a cut grade, a reissue service to obtain the new report design will be available for a $15 fee through March 2006. If the diamond was graded before 2005, the fee is $30. These diamonds do not need to be returned to the GIA Laboratory.



Sign me up for
THIS WEEK @
professionaljeweler.com