The Gemological Institute of America (GIA) will introduce a new grading report for lab-grown diamonds that features fewer technical details and has a lower price tag.
The digital-only document will launch in the first quarter of 2023, providing 4Cs specifications, a GIA spokesperson told Rapaport News on Wednesday. It will not state whether a stone was created via chemical vapor deposition (CVD) or High Pressure-High Temperature (HPHT), or whether there is evidence of post-growth color refinements. It will also not include inclusion plots.
“Reflecting how the market has evolved and the fact that there is less consumer or retailer interest in growth method and treatments, the new report will not specify growth method or post-growth treatments,” the spokesperson said. “As this information is costly to determine, the new report will have a lower cost.”
The GIA’s standard synthetic-diamond reports currently cost the customer $125 for a 1-carat, D- to Z-color stone, compared with $113 for the natural equivalent, according to fee schedules on the institute’s website. The lab-grown report includes a girdle inscription, whereas that service for mined stones incurs an additional charge. Lower-priced dossier reports are also available for both categories.
“Increasing the number of laboratory-grown diamonds in the market with GIA reports protects more consumers,” the spokesperson added.
The organization has not determined the new fees yet. The move will not affect prices of natural-diamond reports.
Image: GIA graders. (GIA)
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