IGI Certification Explained
Diamond certification involves assessing a diamond and documenting its characteristics based on established standards set by a grading laboratory. Certification provides buyers with an objective understanding of a diamond's quality, eliminating the need for extensive expertise. Various prominent diamond grading organizations, such as the International Gemological Institute (IGI), issue reports commonly associated with loose diamonds and diamond jewellery in Australia and globally. IGI, among the largest grading organizations globally in terms of the number of diamonds graded, is well-known and holds a reputable position in the global marketplace.
About IGI
The IGI was founded in 1975 in Antwerp, Belgium. The company has branches in many countries. The company is well represented in Asia, particularly India, where most of the world's diamonds are cut and polished.
IGI is widely recognized for its rapid reporting and cost-effectiveness, making it a preferred choice for low to mid-cost volume jewelers.
Despite having almost 500 employees worldwide, the company asserts strict control over standards. In addition to diamond grading and reporting, IGI provides an array of services such as laser inscription for identification marks, table branding, diamond repair, jewelry engraving, and photography. The company extends its offerings to gemmology training through its own schools and distance learning programs.
Grading Consistency And Diamond Values
Diamond grading reports do not provide an estimated or appraised value, and the certificates do not indicate the cost of a diamond. Jewellers leverage these grading certificates to justify the selling prices of diamonds, whether in loose form or set in jewellery. Even a minor variation in quality grade can significantly impact the retail price of the diamond. Determining the accuracy of the grading is challenging for buyers, who must trust that the classification is not only precise but also consistent with diamonds graded by other labs or within the same company at different branches.
Diamond vendors are well aware of the operational differences among grading labs and tend to select the most advantageous lab-typically the one offering the highest grades for a given type of diamond.
