NEW YORK, Aug. 12, 2020 /PRNewswire/ -- Gemological Institute of America (GIA) and the American Gem Society (AGS), the two most elite sources of gemological knowledge in the world as well as the most widely trusted graders of gems, have finally announced that they will begin grading lab-grown diamonds in addition to mined diamonds.
For nearly 100 years, the two nonprofit scientific authorities have graded mined diamonds according to the "four C's": color, clarity, cut and carat weight. These metrics provide transparency to consumers and protect them in their gem purchases. Now, with lab-grown diamonds able to receive the authoritative and definitive grading on an even playing field with mined diamonds, many industry leaders see the move as unprecedented fuel for an industry already fired up in upheaval.
The announcements from GIA and AGS indicate that the balance of power is settling and is considered by many to be the final step towards establishing equality between diamond categories set in motion in 2018 by the Federal Trade Commission. Its landmark ruling defined lab-grown diamonds as diamonds, settling the matter of equality based on origin for these gems. However, while the technical definition was secured, lab-grown diamond companies still faced headwinds from entrenched consumer perception, stoked by opposition from centuries-old diamond dynasties.
Amish Shah, the founder and president of ALTR Created Diamonds, was the first to bring branded lab-grown diamond jewelry to market. As the pioneer of the lab-grown diamond category, Shah is the industry's leading voice calling for transparency in the diamond market and the opportunity for consumers to make choices based on their lifestyle , values and budget. "We welcome GIA and AGS to the modern diamond industry's evolving technological, innovative and creative landscape," said Shah. "It is indeed a pivotal point, and a time when we must come together to strengthen and advance our opportunity and relevance in the marketplace and consumer mindshare. I'm proud that GIA and AGS are making such significant moves at this critical moment, and I celebrate their efforts to commit and contribute to the transparency that drives consumer choice."
He continued, "Additionally, ALTR is glad that both GIA and AGS have adopted e-certification, a practice ALTR has used with our retailers and key partners for years now. As the first lab-grown diamond company to promote e-certification, we look forward to working together to trailblaze pathways into the hearts and desires of today's consumers with unprecedented transparency and choice. ALTR is confident that with this new depth of insight, consumers will continue and even accelerate their well-documented movement towards the bigger, more pure, more brilliant lab-grown diamonds that they can be confident in once they are graded and certified from the AGS and GIA."
ALTR Created Diamonds
ALTR is the world's leading lab-grown diamond company, offering unparalleled quality, innovative technology, and brilliant created diamonds and created diamond jewelry. Family owned by R.A. Riam Group with its 85 years of experience in the diamond and fine jewelry industry, ALTR combines a legacy of expertise with cutting-edge technology to create the purest form of diamonds – Type IIA – known to man. The company holds 48 patents on its unique, award-winning cuts. For more information, visit altr.nyc.
SOURCE ALTR Created Diamonds