Valuing Diamonds
Diamonds are graded according to an international grading system. This system ties in to an accepted pricing guide. And this is why traders prefer lab-graded stones: it’s possible to know exactly what you’re working with.
When gem laboratories grade diamonds, we look at four distinct characteristics. These let us determine the grade, which in turn helps us determine the price.
What about coloured stones?
When we grade coloured stones, we use five characteristics to reach a final grade. This, then, relates to price. An extremely effective grading system is the ICSL grading system. I have valued, bought, and sold coloured stones using this grading system for over 25 years … and it has certainly stood the test of time.
The ICSL (Independent Coloured Stone Lab) was the FIRST laboratory in the world to give FINAL GRADES. These are, in turn, based on all of the other component parameters. The nomenclature ‘FINAL GRADE’ was introduced by ICSL in 1982. In 1985, the ICSL Coloured Stones Grading System was first published in 1985 in the USA. Not long afterwards, the first laboratory in New York followed suit (although they used different terminology).
You can read the 2016 review on the ICSL grading system here.
The ICSL system is very effective, and with some guidance it can be easy to use. That’s why we are putting together a booklet to show how to use the grading system correctly. We also offer courses on coloured stone grading.
When you work in the jewellery trade, it is essential for anyone dealing in coloured gemstones to know how to grade them. Traders sometimes make up unrealistic prices at times, hoping to make an unfair profit. By knowing how to grade a stone, you will save yourself a lot of money.
The more you know about your industry, the more profitable your business can be. And your business’ reputation for integrity will improve, too!
To order your ICSL guide, or find out about our next coloured stone grading course, call me on 021 761 1746 or email jeremy@gemlab.co.za.
We’re looking forward to watching your business grow.
Warm regards, Jeremy
