Natural Diamond Prices – November 2024
At PriceScope, we remain committed to delivering timely and insightful updates on the diamond market’s latest trends. Our expert analysis focuses on the economic and social changes that shape consumer…
The International Gemological Institute, better known as IGI, is the world’s largest independent institute for analyzing and grading gemstones and fine jewelry. It is no coincidence that IGI has been given the world’s leading gemological organization status. It is through years of study, collaboration, and synergy with both industry experts and consumers that have granted IGI this premium world status. This blog post takes a closer look at who IGI is, what separates IGI apart from its competitors, and taps into IGI’s consumer service offerings.
IGI is the largest organization of its kind, operating in 20 laboratory locations across Europe, the Middle East, North America, East Asia, and South Asia. Contact an IGI laboratory near you.
IGI is world renown for grading finished jewelry, natural diamonds, lab-grown diamonds, and gemstones. IGI is also home to 14 Schools of Gemology that sees thousands of students graduate into jewelry professionals each year.
IGI is the only gemological institute in the world that evaluates and grades finished jewelry, as well as loose diamonds and colored gemstones to ensure transparent consumer confidence. As of now, IGI provides industry-wide assurance by screening millions of carats of tiny diamonds and distinguishing natural from lab-grown on behalf of the world’s most prestigious jewelry designers and brands.
IGI is the first gemological laboratory in the world to be ISO-certified in both natural and lab-grown diamond grading. The single most significant standard for calibration and testing laboratories across the world is the International Organization for Standardization 17025 laboratory competence certification, which covers all laboratory conditions.
IGI is the world’s first gemological laboratory to pledge to carbon neutrality. In doing this they have joined the Responsible Jewelry Council, International Precious Metals Institute, and Initiative for Responsible Mining Assurance, joined forces with SCS Global Services, a foremost authority in the sustainability certification field.
IGI was the first laboratory to give Hearts & Arrows diamond makers and sellers co-branded reports, and it has since established itself as the chosen authority for Hearts & Arrows diamonds sold across Asia and India. When seen via a reflecting scope, “Hearts & Arrows” diamonds are cut so perfectly that their facet reflections overlap. IGI pioneered grading criteria for these diamonds. Hearts & Arrows’ accuracy is usually linked with high-quality Excellent-Ideal cuts.
In 2005, IGI became the first laboratory to fully grade lab-grown diamonds, establishing a foundation of legitimacy and consistency for this rapidly increasing business area. IGI now has more knowledge and experience, grading more lab-grown diamonds and finished jewelry than any other body, allowing the whole industry – from manufacturers and retailers to consumers – to have faith in lab-grown diamond grading.
IGI’s experience and reach are unmatched, with millions of reports issued each year. In North America, Europe, and Asia, IGI is the most trusted name in finished jewelry grading. In 2020, in response to the country’s rapid expansion in online e-commerce sales, eBay India launched a countrywide program for sellers to have their jewelry items evaluated by IGI, boosting buyer trust and confidence in the world’s largest domestic jewelry market.
IGI’s schools of gemology are unsurpassed in diversity and reach, offering courses in person and online via customized webinars and eLearning programs in more places across the world. IGI goes beyond typical diamond and gemstone training, promoting creativity and graduating thousands of new jewelry professionals each year. From raw diamonds to computer-assisted jewelry design and retail assistance, IGI goes above and beyond traditional diamond and gemstone training.
IGI was the first to issue Jewelry Identification Reports, the first to offer rough diamond courses, the first to seal diamonds, the first to issue comprehensive cut-grading criteria, the first to offer appraisal services, and the first to offer co-branded reports in collaboration with renowned jewelry brands. Today, IGI is a pioneer in the industry when it comes to sustainability and environmental stewardship, with initiatives and resources aimed at assisting other jewelers in this crucial area. IGI recently awarded a $5,000 grade prize to a jeweler in California, toward helping them become carbon neutral.
Even industry experts in today’s world need to make use of specialized technology to detect gemstone treatments and verify whether they are natural or lab-created. Since the 1980s, IGI has been developing and applying the world’s most advanced identification spectrometry, pioneering comprehensive evaluation of lab-produced diamonds since 2005, and holding ISO certification in both natural and lab-grown diamond grading.
Most of all, IGI is dedicated to making the jewelry business more sustainable and humane. Cooperation with IGI is built on a common commitment to openness, authenticity, and disclosure in the field of diamond, gemstone, and jewelry examination.
Catch up on our most recent webinar with PriceScope Director of Education John Pollard and President of International Gemological Institute – IGI North America Avi Levy where they discuss natural and lab diamond trends, how consumer behavior and expectations have changed, and how the diamond business can be more sustainable.
Have you consumed any of IGI’s services? How was your experience? Have you had all of your jewelry, diamonds, and colored gemstones graded? If not, why not? Would you use IGI’s grading system? Let us know by clicking the comments button below.