IGI broke status quo fifteen years ago by offering full grading services for lab-grown diamonds. We are proud to have been the first institute to enter this arena, instilling confidence in lab-grown diamond grading for the entire industry – from manufacturers and retailers to consumers.
Full disclosure since 2005
IGI’s decision to accept, study and fully-grade lab-grown diamonds provided a first-foothold in terms of authenticity and standardization for this growing industry segment in 2005. IGI CEO Roland Lorie described the impetus behind that decision to Jeweller Magazine:
While other labs decided to focus only on a grading system for natural diamonds, IGI took the risk of certifying lab-grown stones, even when volume was minimal, because we not only thought it was the right thing to do, but had an inclination that the industry would one day embrace these diamonds. We wanted to ensure consumers knew exactly what they were buying, so they could be confident in their purchases.
In the last year, lab-grown inventory and prominence have drastically increased, resulting in an interesting financial opportunity for our industry. Today, major gemological labs want to get their share of the growing business.
Increased transparency for all
Today, we welcome GIA and AGS as they join us in this endeavor going forward. We are proud to see other organizations adopt our long-held philosophy regarding the dual-channel legitimacy of natural and lab-grown diamonds, and believe professionals and consumers alike will benefit from the increased transparency in our industry.