Tuesday, 18 June 2013

Let’s Think This Through…

In Vegas, Martin Rapaport stood-up and made a haunting statement.  With regards to the various grading standards among competing diamond grading labs, he stated “at least we have something to complain about.”  So, let’s think this through.  Were there no diamond labs, what would our industry look like?  Well, assuming there is still an I3 through FL clarity scale and D-Z color scale, I would speculate that there will still be diamond dealers who apply those descriptions with strict integrity, and those who “stretch” a bit, and then those who “stretch” a lot.  There would remain those jewellers who choose their dealers based upon their own level of integrity.

What would be missing?  The official looking piece of paper that can be used to convince unwitting consumers that they’re getting a great deal; and which can also be used to assure savvy consumers that they’re getting the quality they desire.  If there were no diamond labs, that might be good for Gem Scan, I.G.L. and Harold Weinstein because some consumers would insist upon an unbiased “second opinion” because they don’t trust their local jeweller.

In all likelihood our Canadian appraisal labs would generate their own reputations, and you’d end-up with one taking the moral high-ground, one catering to those who want a preferential grade and one would land in the middle. 

Is this just human nature, or is it our industry?  I’m not totally sure, but I’m going to interview people from various other industries and just see if there are similar problems elsewhere in our crazy world.  Watch for the results in an upcoming Canadian Jeweller Magazine article by yours truly…

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