Others follow IGI into full assessment
Antwerp, Belgium (August 20, 2020) — The International Gemological Institute (IGI) broke industry status quo fifteen years ago by offering full grading services for lab-grown diamonds. Earlier this month the Gemological Institute of America (GIA) announced a policy change, following IGI into full lab-grown diamond assessment. On August 5th, the American Gem Society (AGS) Laboratories announced a similar decision.
IGI is proud to have been the first institute to enter this arena, instilling confidence in lab-grown diamond grading for the entire industry – from manufacturers and retailers to consumers. The historic decision to accept, study and fully-grade lab-grown diamonds provided a first-foothold in terms of authenticity and standardization for this growing industry segment in 2005.
“While other labs decided to focus only on a grading system for natural diamonds, IGI took the risk of certifying lab-grown stones, even when volume was minimal, because we not only thought it was the right thing to do, but had an inclination that the industry would one day embrace these diamonds” said IGI CEO Roland Lorie. “We wanted to ensure consumers knew exactly what they were buying, so they could be confident in their purchases.”
In the last year, lab-grown inventory and prominence have drastically increased, resulting in an interesting financial opportunity for our industry. Today, major gemological labs want to get their share of the growing business.
IGI welcomes GIA, AGS and others as they join us in this endeavor going forward. We are proud to see our long-held philosophy regarding the dual-channel legitimacy of natural and lab-grown diamonds embraced by others and believe professionals and consumers alike will benefit from the increased transparency in our industry.
The International Gemological Institute (IGI) operates 18 laboratory locations around the world grading finished jewelry, natural diamonds, lab-grown diamonds and gemstones – and 14 schools of gemology graduating thousands of new jewelry professionals annually. For over 45 years, IGI has provided the fine jewelry community and consumers with a broad range of services including independent diamond grading reports, colored stone reports, identification and appraisal reports, diamond authentication and attestation of origin, laser inscription services, as well as the issuing of the traditional jewelry identification report. Regardless of location or marketplace, an authentic IGI Laboratory Report is the common language of trust and confidence in the gemological world.