GIA Creates New International Diamond Consolidator Network

August 14, 2006

GIA Creates New International Diamond Consolidator Network

The Gemological Institute of America (GIA) has announced it will create a network of take-in windows to be managed by consolidators — services that conslidate diamonds from local regions and ship them to labs — to form an international diamond shipment consolidation system for the GIA Laboratory and its clients. The new service will be called GIA LabDirect.

Contracts have been signed with The Rapaport Group, Malca-Amit LLC and the Dubai Multi Commodities Center (DMCC). The Rapaport Group, in collaboration with Brink's Global Services, will be providing access to GIA via Brink's offices worldwide. In addition, GIA's own offices in Geneva, Hong Kong and Antwerp will provide similar services, as will GIA's education affiliate in Japan, the Association of Japan Gem Trust (AGT).

"We are building a first-class international network of drop-off and shipment points to assist the maximum number of clients in moving their goods to the GIA Laboratory in a safe, expedient and cost-effective way," says Ralph Destino, GIA's chairman.

Under GIA's new system, those interested in having diamonds graded by GIA will be able to drop their stones off at the nearest authorized consolidator, which will transport the diamonds to and from one of GIA's two laboratory facilities located in New York and Carlsbad, CA.

In establishing these arrangements, GIA is fulfilling its pledge to widen access to its laboratory services by discontinuing its former membership structure and by appointing a series of consolidators in Europe, Asia, and the Middle East.

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