Industry News: IGI Uncovers Largest Misrepresented Lab Grown Diamond

Industry News: IGI Uncovers Largest Misrepresented Lab Grown Diamond

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A 6.18 carat loose, round brilliant cut diamond was recently submitted to IGI’s Thailand laboratory for verification purposes. Upon analysis, IGI gemologists quickly discovered the diamond was laboratory grown, despite the fact that it was accompanied by a natural diamond grading report from the GIA.

The news was immediately shared by diamond industry news outlets, including Diamond World, Rapaport, IDEX and Instore Magazine

Precision Previously Never Seen

The fraudsters demonstrated a level of premeditation and meticulous precision previously never seen. Not only did the lab grown diamond have the same carat weight and colorless, high-clarity appearance as the GIA-described stone, it was grown, cut and polished to match all measurements reported on the certificate. It was also laser-inscribed with the GIA report number – a deceptive practice which has historically been used by people outside of the diamond trade to mislead consumer buyers.

According to IGI Thailand and Hong Kong Managing Director Bob Van Es:

This is the largest lab-grown diamond ever certified by a leading gemological laboratory, where the sole purpose was to pass off a lab-grown stone as natural. At IGI, we have seen a huge increase in double verification demand, which means before going for a major purchase, consumers like to receive confirmation that the stone matches the original report.

Roland Lorie, CEO of IGI confirmed Van Es’ observations:

A second opinion ensures the integrity of diamonds through detailed analysis, which is an extra, necessary buffer that protects consumers from purchasing misrepresented gemstones. As fraud becomes more apparent, IGI continues to demonstrate its expertise in identifying this malpractice and serving as the end authority for consumers to trust that Institute-certified jewelry is accurately graded and analyzed.

The Fifth “C” – Confidence

Without independent certification, today’s shoppers risk purchasing gemstones that may not be completely consistent with their general descriptions or, as in this case, are of lab grown instead of natural origin. For more than 45 years IGI has been proud to provide consumers with world-class verification and reporting, permitting fine jewelry buyers to have confidence in the quality and value of their purchase.

Earlier this year, the International Organization for Standardization (ISO), the world’s largest developer of voluntary international standards, certified IGI with the ISO 17025 accreditation for lab-grown diamonds, making IGI’s laboratories the world’s first to hold ISO accreditation for both natural and lab-grown diamonds.

Read the original Press Release here.

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IGI

The global authority in diamond, gemstone and jewelry grading.

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