CEO Beth Gerstein said she believes in the jeweler’s omnichannel approach as its retail rollout continues.
More Stones with Fraudulent Inscriptions Submitted to GIA
This time, they were either lab-grown diamonds or treated natural diamonds with counterfeit GIA report number inscriptions.
New York—The GIA said it recently received more stones with counterfeit GIA report number inscriptions on their girdles.
Submitted for updated reports or verification services, the lab said stones were either lab-grown diamonds or treated natural diamonds that had been submitted to various labs around the world.
According to GIA, the diamonds with the counterfeit inscriptions were close in size and quality to the diamonds to which the report numbers actually belong.
For example, the report that came with one of the diamonds sent to GIA for an update was for a 1.50362-carat, VVS2, E color, Type I natural diamond with an excellent cut grade.
The submitted stone, however, was a lab-grown diamond weighing 1.51212 carats, VVS2, D color, and Type IIa with a very good cut grade, indicating these were clearly two different diamonds.
In cases such as this, GIA said it overwrites the counterfeit inscription with Xs, issues a new, accurate report, and then inscribes said stone with the new report number and, if applicable, the words “Laboratory-Grown,” per its protocol for grading lab-grown diamonds.
The lab also noted that in these cases, depending on the circumstance, it considers all options outlined in its Client Agreement, including notifying the submitting client, law enforcement and/or the public.
In a press release about the diamonds with counterfeit inscriptions, GIA reiterated the importance of having an updated diamond grading report before purchase, especially when the buyer hasn’t yet built a trusted relationship with the seller.
This is not the first time GIA has seen counterfeit inscriptions.
In fact, just last month the lab reported three stones had been submitted to its Johannesburg, South Africa location that ended up being moissanites inscribed with GIA report numbers belonging to natural diamonds.
The lab said Tuesday there is nothing to indicate the two incidents are related.
PGI created the program to accelerate the growth of the platinum jewelry market in the U.S.
Take a tour of Italian designers at COUTURE 2021.
They bought and resold jewels from a South America-based gang that targeted traveling salespeople across the United States.
It’s the follow-up to “Emerald” and “Ruby.”
Health care coverage is a big expense for small businesses - find out how to lower costs long-term instead of every 12 months.
Graders at HRD Antwerp found this one, a HPHT-treated natural diamond inscribed with the report number of an untreated stone.