GIA to Cut Back Antwerp Business

 

The Gemological Institute of America (GIA) will scale back its Antwerp operations from January, but has decided not to shut the laboratory entirely.

“Today, we notified clients of the GIA laboratory in Antwerp that, as of January, the laboratory will offer consolidated services with reduced staff,” a spokesperson told Rapaport News Monday. It will continue to provide client consultations, rough-diamond analysis for the GIA Diamond Origin Report, and some follow-up services and inscriptions for D-to-Z diamonds up to 3.99 carats, he added.

In August, the GIA revealed preliminary plans to close or significantly trim its laboratory and offices in the Belgian city, citing market conditions and the Covid-19 pandemic.

Source: DCLA

GIA to Cut Back Antwerp Business

 

The Gemological Institute of America (GIA) will scale back its Antwerp operations from January, but has decided not to shut the laboratory entirely.

“Today, we notified clients of the GIA laboratory in Antwerp that, as of January, the laboratory will offer consolidated services with reduced staff,” a spokesperson told Rapaport News Monday. It will continue to provide client consultations, rough-diamond analysis for the GIA Diamond Origin Report, and some follow-up services and inscriptions for D-to-Z diamonds up to 3.99 carats, he added.

In August, the GIA revealed preliminary plans to close or significantly trim its laboratory and offices in the Belgian city, citing market conditions and the Covid-19 pandemic.

Source: DCLA

GIA Unveils New Lab-Grown Reports

 

The Gemological Institute of America (GIA) has launched its new grading reports for lab-grown diamonds, offering an updated look and format.

The new documents, branded “LGDR by GIA,” come in digital-only form and use specific color and clarity scores rather than the descriptive terms and ranges that appeared in its previous reports, the organization said Tuesday.

“The evolution of GIA’s reports for laboratory-grown diamonds is fully aligned with our mission to protect all consumers,” said Susan Jacques, GIA president and CEO. “Everyone who purchases gemstone jewelry — whether natural or laboratory-grown — expects and deserves the information, confidence and protection that come with a GIA report.”

The offering includes two different Laboratory-Grown Diamond Reports for colorless synthetic diamonds — a standard report and a dossier — and two for colored diamonds: one with plot diagrams and one without.

Notably, the GIA avoids calling the documents “grading reports” — a term it reserves for natural diamonds. Earlier this week, the World Jewellery Confederation (CIBJO) recommended that laboratories use that term only for natural stones and instead call synthetics reports “Laboratory-Grown Diamond Product Specifications,” arguing that the concept of grading implies rarity.

“The color and clarity specifications for laboratory-grown diamonds are described on the same scale as GIA grading reports for natural diamonds, but that does not correlate to nature’s continuum of rarity,” the GIA noted.

The reports state that a stone was created by chemical vapor deposition (CVD) or High Pressure-High Temperature (HPHT) and that it may include post-growth treatments to change the color. Each report also comes with a QR code linking to a custom page on GIA’s website with information about lab-grown diamonds.

Each stone will also receive a laser inscription with the report number and the words “laboratory-grown,” unless another acceptable term already appears on the girdle.

Source: DCLA

GIA Unveils New Lab-Grown Reports

 

The Gemological Institute of America (GIA) has launched its new grading reports for lab-grown diamonds, offering an updated look and format.

The new documents, branded “LGDR by GIA,” come in digital-only form and use specific color and clarity scores rather than the descriptive terms and ranges that appeared in its previous reports, the organization said Tuesday.

“The evolution of GIA’s reports for laboratory-grown diamonds is fully aligned with our mission to protect all consumers,” said Susan Jacques, GIA president and CEO. “Everyone who purchases gemstone jewelry — whether natural or laboratory-grown — expects and deserves the information, confidence and protection that come with a GIA report.”

The offering includes two different Laboratory-Grown Diamond Reports for colorless synthetic diamonds — a standard report and a dossier — and two for colored diamonds: one with plot diagrams and one without.

Notably, the GIA avoids calling the documents “grading reports” — a term it reserves for natural diamonds. Earlier this week, the World Jewellery Confederation (CIBJO) recommended that laboratories use that term only for natural stones and instead call synthetics reports “Laboratory-Grown Diamond Product Specifications,” arguing that the concept of grading implies rarity.

“The color and clarity specifications for laboratory-grown diamonds are described on the same scale as GIA grading reports for natural diamonds, but that does not correlate to nature’s continuum of rarity,” the GIA noted.

The reports state that a stone was created by chemical vapor deposition (CVD) or High Pressure-High Temperature (HPHT) and that it may include post-growth treatments to change the color. Each report also comes with a QR code linking to a custom page on GIA’s website with information about lab-grown diamonds.

Each stone will also receive a laser inscription with the report number and the words “laboratory-grown,” unless another acceptable term already appears on the girdle.

Source: DCLA

GIA Considers Shutting Antwerp Lab

The Gemological Institute of America (GIA) plans to close or heavily scale back its Antwerp operations following a review of its business in the Belgian city.

“Based on global and local market conditions and activity, and the impact of the global pandemic, the GIA conducted an evaluation of the long-term viability of GIA Belgium,” a spokesperson for the organization told Rapaport News on Friday. “As a result of that evaluation, we have the intention to close or significantly reduce the GIA laboratory and offices in Antwerp, which will likely result in a reduction in staff.”

The GIA invested in its Antwerp business as recently as 2018, expanding the office’s research and traceability services and adding diamond grading to its capabilities — though it also shuttered its Dubai branch the same year.

The decision about the “closure or near-closure” in Antwerp is not final, the GIA noted, and the group is consulting with staff members in Belgium.

Around 50 people could lose their jobs if the move goes through, according to Belgian newspaper Het Laatste Nieuws.

Belgium’s diamond industry has struggled in recent years amid a shift in manufacturing work to India and a reduction in bank lending to the sector. The coronavirus has intensified the situation: The country’s polished exports for 2020’s second quarter slid 71% year on year to $813.2 million as global demand plummeted and shipping routes shut down. The GIA lab closed for almost two months during the pandemic.

The laboratory will maintain its current operations in the meantime, meaning clients will still be able to submit and pick up stones, the GIA stated.

Source: DCLA

GIA Considers Shutting Antwerp Lab

The Gemological Institute of America (GIA) plans to close or heavily scale back its Antwerp operations following a review of its business in the Belgian city.

“Based on global and local market conditions and activity, and the impact of the global pandemic, the GIA conducted an evaluation of the long-term viability of GIA Belgium,” a spokesperson for the organization told Rapaport News on Friday. “As a result of that evaluation, we have the intention to close or significantly reduce the GIA laboratory and offices in Antwerp, which will likely result in a reduction in staff.”

The GIA invested in its Antwerp business as recently as 2018, expanding the office’s research and traceability services and adding diamond grading to its capabilities — though it also shuttered its Dubai branch the same year.

The decision about the “closure or near-closure” in Antwerp is not final, the GIA noted, and the group is consulting with staff members in Belgium.

Around 50 people could lose their jobs if the move goes through, according to Belgian newspaper Het Laatste Nieuws.

Belgium’s diamond industry has struggled in recent years amid a shift in manufacturing work to India and a reduction in bank lending to the sector. The coronavirus has intensified the situation: The country’s polished exports for 2020’s second quarter slid 71% year on year to $813.2 million as global demand plummeted and shipping routes shut down. The GIA lab closed for almost two months during the pandemic.

The laboratory will maintain its current operations in the meantime, meaning clients will still be able to submit and pick up stones, the GIA stated.

Source: DCLA

GIA Now Able to Screen Fancy-Shaped Melee

The Gemological Institute of America (GIA) has expanded its melee-screening capabilities, with the organization now able to test whether parcels of fancy-shaped diamonds contain lab-grown or treated stones.

The melee-analysis service separates natural diamonds from synthetics, simulants and stones that are potentially treated using High Pressure-High Temperature (HPHT). Since launching it in 2016, the GIA has only been able to sort round-brilliant melee, the GIA said last week.

The service processes 1,800 to 2,000 stones per hour, and can also sort screened round diamonds by color and size range. Once diamonds are sorted, the melee is sealed in a secure package and returned, the GIA noted. 

Source: DCLA

GIA Now Able to Screen Fancy-Shaped Melee

The Gemological Institute of America (GIA) has expanded its melee-screening capabilities, with the organization now able to test whether parcels of fancy-shaped diamonds contain lab-grown or treated stones.

The melee-analysis service separates natural diamonds from synthetics, simulants and stones that are potentially treated using High Pressure-High Temperature (HPHT). Since launching it in 2016, the GIA has only been able to sort round-brilliant melee, the GIA said last week.

The service processes 1,800 to 2,000 stones per hour, and can also sort screened round diamonds by color and size range. Once diamonds are sorted, the melee is sealed in a secure package and returned, the GIA noted. 

Source: DCLA

GIA to Give Full Color, Clarity Grades for Lab-Grown

The Gemological Institute of America (GIA) is launching a new digital report for lab-grown diamonds that will feature specific color and clarity grades. The organization, which currently only offers loose descriptions and grade ranges for synthetics, will introduce the new reports early in the fourth quarter, it said Tuesday.

The service will incorporate the GIA’s two existing lab-grown reports. Its full reports — available for stones weighing 0.15 carats and larger — will include a 4Cs assessment and plotted diagrams showing clarity and proportions. Its lower-priced “dossiers,” which are available only for stones ranging from 0.15 to 1.99 carats, will just include the 4Cs assessment and the proportions diagram. The lab will also offer specific color and clarity grades for lab-grown colored diamonds.

The GIA began grading synthetic diamonds in 2007, and has since aligned the service more with what it offers for natural stones. Until last year, it only provided descriptions of color and clarity, such as “colorless” and “slightly included.” However, from July 1, 2019, it started indicating the range of traditional color and clarity scores to which those descriptions referred — such as “D to F” and “SI1 to SI2.”

The institute has now moved a stage further, arguing that enhanced transparency will benefit consumers and the trade.

“Natural- and laboratory-grown diamonds coexist today, accepted by both consumers and the trade,” said CEO Susan Jacques. “Ensuring consumers’ trust with GIA’s reliable, independent and authoritative grading reports for all diamonds benefits the public and the entire gem and jewelry industry. We believe the growth of laboratory-grown diamonds will expand the overall diamond market and bring in new customers.”

The reports will only be available in a digital format and will feature an updated design that distinguishes them from their natural-diamond counterparts. The California-headquartered organization will continue to laser-inscribe the stones with the words “laboratory-grown” alongside the GIA report number to further ensure differentiation from naturals. The documents will still carry a statement that the graded stone may have undergone post-growth treatment to alter its color, the GIA pointed out.

The GIA is keeping the same fee structure as for natural-diamond reports since the grading work is the same, it noted.

Source: DCLA

GIA to Give Full Color, Clarity Grades for Lab-Grown

The Gemological Institute of America (GIA) is launching a new digital report for lab-grown diamonds that will feature specific color and clarity grades. The organization, which currently only offers loose descriptions and grade ranges for synthetics, will introduce the new reports early in the fourth quarter, it said Tuesday.

The service will incorporate the GIA’s two existing lab-grown reports. Its full reports — available for stones weighing 0.15 carats and larger — will include a 4Cs assessment and plotted diagrams showing clarity and proportions. Its lower-priced “dossiers,” which are available only for stones ranging from 0.15 to 1.99 carats, will just include the 4Cs assessment and the proportions diagram. The lab will also offer specific color and clarity grades for lab-grown colored diamonds.

The GIA began grading synthetic diamonds in 2007, and has since aligned the service more with what it offers for natural stones. Until last year, it only provided descriptions of color and clarity, such as “colorless” and “slightly included.” However, from July 1, 2019, it started indicating the range of traditional color and clarity scores to which those descriptions referred — such as “D to F” and “SI1 to SI2.”

The institute has now moved a stage further, arguing that enhanced transparency will benefit consumers and the trade.

“Natural- and laboratory-grown diamonds coexist today, accepted by both consumers and the trade,” said CEO Susan Jacques. “Ensuring consumers’ trust with GIA’s reliable, independent and authoritative grading reports for all diamonds benefits the public and the entire gem and jewelry industry. We believe the growth of laboratory-grown diamonds will expand the overall diamond market and bring in new customers.”

The reports will only be available in a digital format and will feature an updated design that distinguishes them from their natural-diamond counterparts. The California-headquartered organization will continue to laser-inscribe the stones with the words “laboratory-grown” alongside the GIA report number to further ensure differentiation from naturals. The documents will still carry a statement that the graded stone may have undergone post-growth treatment to alter its color, the GIA pointed out.

The GIA is keeping the same fee structure as for natural-diamond reports since the grading work is the same, it noted.

Source: DCLA

GIA Embraces Automated Clarity Grading

The Gemological Institute of America (GIA) has teamed up with IBM Research to develop an automated system for grading the clarity of a diamond.

The artificial intelligence (AI) technology uses data from tens of millions of diamonds GIA laboratories have examined in the past, applying the institute’s existing grading standards. It’s already in limited use at the GIA’s New York and Carlsbad laboratories, the institute said Monday.

Grading laboratories have increasingly invested in AI in recent years, as it promises more accurate and consistent results. Sarine Technologies unveiled its automated color and clarity grading equipment in 2016, while the GIA has been working with IBM on the joint project for around two years.

“IBM’s AI technology, combined with GIA’s expertise, extensive data and gemological-research capabilities, enables us to deliver advancements in consistency, accuracy and speed unlike any other organization,” said Tom Moses, the GIA’s executive vice president and chief laboratory and research officer.

The program will initially include the most popular diamond sizes. The GIA aims to expand it to other sizes, shapes and qualities in the future. The GIA and IBM are planning other collaborations combining gemological evaluation with AI.

Source: DCLA

GIA Embraces Automated Clarity Grading

The Gemological Institute of America (GIA) has teamed up with IBM Research to develop an automated system for grading the clarity of a diamond.

The artificial intelligence (AI) technology uses data from tens of millions of diamonds GIA laboratories have examined in the past, applying the institute’s existing grading standards. It’s already in limited use at the GIA’s New York and Carlsbad laboratories, the institute said Monday.

Grading laboratories have increasingly invested in AI in recent years, as it promises more accurate and consistent results. Sarine Technologies unveiled its automated color and clarity grading equipment in 2016, while the GIA has been working with IBM on the joint project for around two years.

“IBM’s AI technology, combined with GIA’s expertise, extensive data and gemological-research capabilities, enables us to deliver advancements in consistency, accuracy and speed unlike any other organization,” said Tom Moses, the GIA’s executive vice president and chief laboratory and research officer.

The program will initially include the most popular diamond sizes. The GIA aims to expand it to other sizes, shapes and qualities in the future. The GIA and IBM are planning other collaborations combining gemological evaluation with AI.

Source: DCLA

GIA to Reopen New York Lab

The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.

“As restrictions are lifted and the global gem and jewelry industry begins to recover, we are safely reopening GIA locations, returning staff to work and preparing to engage in our mission-driven activities,” GIA CEO Susan Jacques said Thursday. “We are strictly following government regulations and guidelines, implementing new processes, and adapting our facilities to keep everyone who comes to GIA — staff, clients, students and visitors — healthy and safe.”

With the 47th Street venue back in action, all 11 of the GIA’s laboratories will have unlocked their doors. The 10 other sites are steadily increasing their hours and adding extra shifts to meet growing demand for their services, the GIA said.

Meanwhile, its gemological schools in Taipei and Hong Kong are open, and all other GIA educational centers will welcome back on-campus students “in the near future,” it said.

The organization closed most of its sites in March as the virus spread, and gradually reopened them as lockdown restrictions eased. It will continue to monitor local-government and health rules in each location and adjust its services as necessary.

Source: DCLA

GIA to Reopen New York Lab

The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.

“As restrictions are lifted and the global gem and jewelry industry begins to recover, we are safely reopening GIA locations, returning staff to work and preparing to engage in our mission-driven activities,” GIA CEO Susan Jacques said Thursday. “We are strictly following government regulations and guidelines, implementing new processes, and adapting our facilities to keep everyone who comes to GIA — staff, clients, students and visitors — healthy and safe.”

With the 47th Street venue back in action, all 11 of the GIA’s laboratories will have unlocked their doors. The 10 other sites are steadily increasing their hours and adding extra shifts to meet growing demand for their services, the GIA said.

Meanwhile, its gemological schools in Taipei and Hong Kong are open, and all other GIA educational centers will welcome back on-campus students “in the near future,” it said.

The organization closed most of its sites in March as the virus spread, and gradually reopened them as lockdown restrictions eased. It will continue to monitor local-government and health rules in each location and adjust its services as necessary.

Source: DCLA

GIA Calls Off New York Career Fair

The Gemological Institute of America (GIA) has canceled next week’s career event in New York due to the coronavirus.

The GIA Jewelry Career Fair was due to take place on March 13. It targets job seekers in the greater New York City area, and is open to the public. The organization plans to find a new date for the event.

“We believe this is in the best interest of all participants’ health and safety,” a GIA spokesperson said Wednesday.

Last year, the fair attracted more than 450 students, GIA alumni, job seekers and other professionals, as well as 56 companies looking to hire and 23 career coaches.

The GIA has already reduced the operating hours at its Hong Kong and Tokyo laboratories due to the health situation. It continues to monitor the conditions in all its locations, the spokesperson added.

Concerns about the spread of the coronavirus in the US increased this week. As of Wednesday, nine people had died out of a total of 80 cases across 13 states, according to the Centers for Disease Control and Prevention. The US has not yet banned public events, but California declared a state of emergency on Wednesday.

The JCK Las Vegas and Luxury shows will still take place in late May and early June, organizers Reed Jewelry Group confirmed on Tuesday. This week’s Hong Kong shows and the Baselworld fair — scheduled for April 30 to May 5 in Switzerland — have both fallen victim to the epidemic.

Source: DCLA

GIA Calls Off New York Career Fair

The Gemological Institute of America (GIA) has canceled next week’s career event in New York due to the coronavirus.

The GIA Jewelry Career Fair was due to take place on March 13. It targets job seekers in the greater New York City area, and is open to the public. The organization plans to find a new date for the event.

“We believe this is in the best interest of all participants’ health and safety,” a GIA spokesperson said Wednesday.

Last year, the fair attracted more than 450 students, GIA alumni, job seekers and other professionals, as well as 56 companies looking to hire and 23 career coaches.

The GIA has already reduced the operating hours at its Hong Kong and Tokyo laboratories due to the health situation. It continues to monitor the conditions in all its locations, the spokesperson added.

Concerns about the spread of the coronavirus in the US increased this week. As of Wednesday, nine people had died out of a total of 80 cases across 13 states, according to the Centers for Disease Control and Prevention. The US has not yet banned public events, but California declared a state of emergency on Wednesday.

The JCK Las Vegas and Luxury shows will still take place in late May and early June, organizers Reed Jewelry Group confirmed on Tuesday. This week’s Hong Kong shows and the Baselworld fair — scheduled for April 30 to May 5 in Switzerland — have both fallen victim to the epidemic.

Source: DCLA

De Beers Optimistic After 2019 Earnings Slump

De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.

Early data from the holiday season indicate midstream stock levels are more balanced than they were, the company reported Thursday in parent company Anglo American’s annual financial results. The miner maintained its production forecast of 32 million to 34 million carats for the year, citing a “currently anticipated improvement in trading conditions compared with 2019.”

Last year was the worst for De Beers in the past decade, as rough demand plummeted amid an oversupply of polished in the manufacturing and trading sector. The miner reported that underlying earnings slid 87% to $45 million, while revenue fell 24% to $4.61 billion, its lowest level since the financial crisis.

Rough sales declined 26% to $4 billion, with volume down 8% to 30.9 million carats. De Beers’ average selling price slumped 20% to $137 per carat, reflecting a 6% decline in like-for-like rough prices, as well as weak demand for higher-value diamonds.

Sales from other divisions, which include the Element Six industrial-diamond unit and Lightbox, its lab-grown brand, fell 17% to approximately $570 million, according to Rapaport calculations.

Last year started on a weak note, as stock-market volatility and the US-China trade war led to sluggish 2018 holiday sales, leaving the trade with higher stock levels than it had expected, the company explained. The situation worsened as US retailers took more goods on memo and pruned their physical-store networks, while consumers shifted further to online buying, reducing the need for inventory. The midstream also suffered from tight bank financing, dampening demand for more rough, De Beers noted.

De Beers observed “stable” consumer demand so far in 2020, especially in the US, but cautioned that several uncertainties — including the coronavirus outbreak — could pose a threat. An increase in online purchasing has caused retailers to destock, while US-China trade tensions and geopolitical escalations in the Middle East could also affect economic growth and consumer sentiment, the company added.

Source: DCLA

De Beers Optimistic After 2019 Earnings Slump

De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.

Early data from the holiday season indicate midstream stock levels are more balanced than they were, the company reported Thursday in parent company Anglo American’s annual financial results. The miner maintained its production forecast of 32 million to 34 million carats for the year, citing a “currently anticipated improvement in trading conditions compared with 2019.”

Last year was the worst for De Beers in the past decade, as rough demand plummeted amid an oversupply of polished in the manufacturing and trading sector. The miner reported that underlying earnings slid 87% to $45 million, while revenue fell 24% to $4.61 billion, its lowest level since the financial crisis.

Rough sales declined 26% to $4 billion, with volume down 8% to 30.9 million carats. De Beers’ average selling price slumped 20% to $137 per carat, reflecting a 6% decline in like-for-like rough prices, as well as weak demand for higher-value diamonds.

Sales from other divisions, which include the Element Six industrial-diamond unit and Lightbox, its lab-grown brand, fell 17% to approximately $570 million, according to Rapaport calculations.

Last year started on a weak note, as stock-market volatility and the US-China trade war led to sluggish 2018 holiday sales, leaving the trade with higher stock levels than it had expected, the company explained. The situation worsened as US retailers took more goods on memo and pruned their physical-store networks, while consumers shifted further to online buying, reducing the need for inventory. The midstream also suffered from tight bank financing, dampening demand for more rough, De Beers noted.

De Beers observed “stable” consumer demand so far in 2020, especially in the US, but cautioned that several uncertainties — including the coronavirus outbreak — could pose a threat. An increase in online purchasing has caused retailers to destock, while US-China trade tensions and geopolitical escalations in the Middle East could also affect economic growth and consumer sentiment, the company added.

Source: DCLA

De Beers Adds Grading Specs for Lightbox

Lightbox has added grading information for its synthetic white diamonds in an effort by the De Beers brand to bring further transparency to the lab-grown sector.

The company will provide technical specifications showing the minimum quality of its stones across cut, color, clarity and carat weight, Lightbox said Monday. It will include these descriptions with each white lab-grown diamond it sells, but will not grade each stone individually. The specifications are based on internationally recognized grading standards, the De Beers-owned company noted.

“This new feature is just one more way Lightbox can instill consumer confidence,” the company added.

An infographic with the information is also available on Lightbox’s website. Those specifications list its synthetic white diamonds to be “near colorless” or better, which the company defines as between G to J, meaning only a trained gemologist can detect a trace of color. The stones all have a minimum clarity of VS, and a cut of “very good.” The stones are still priced at $800 per carat.

Lightbox, which De Beers launched in 2018, does not currently intend to offer grading information for its blue or pink lab-grown diamonds.

Source: DCLA

De Beers Adds Grading Specs for Lightbox

Lightbox has added grading information for its synthetic white diamonds in an effort by the De Beers brand to bring further transparency to the lab-grown sector.

The company will provide technical specifications showing the minimum quality of its stones across cut, color, clarity and carat weight, Lightbox said Monday. It will include these descriptions with each white lab-grown diamond it sells, but will not grade each stone individually. The specifications are based on internationally recognized grading standards, the De Beers-owned company noted.

“This new feature is just one more way Lightbox can instill consumer confidence,” the company added.

An infographic with the information is also available on Lightbox’s website. Those specifications list its synthetic white diamonds to be “near colorless” or better, which the company defines as between G to J, meaning only a trained gemologist can detect a trace of color. The stones all have a minimum clarity of VS, and a cut of “very good.” The stones are still priced at $800 per carat.

Lightbox, which De Beers launched in 2018, does not currently intend to offer grading information for its blue or pink lab-grown diamonds.

Source: DCLA