Yes. Not for profit labs tend to grade more critically than for profit labs. The video below shows you how the same diamond recieved two different cut and clarity grades one from the Gemological Institute of America or the GIA (not for profit) and one from the European Gemological Laboratory or EFL (for profit).
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History of Diamonds
- Diamonds were first discovered in South America in 1725 after the diamond industry in India began to falter.
- Diamonds were not found in North America until the 1840s, but the excitement was short lived after the Great Diamond Rush was discovered in Africa.
- Russia currently holds the highest production of diamonds by volume, while Botswana produces the highest value of diamond.
- Although the United States produces nearly no diamonds, America has the potential to produce as much as 12 percent of the world’s total diamond production.
- While America produces few diamonds, the US purchases more than 40 percent of the world’s diamonds, holding the title for the world’s largest diamond market.
Carat and Quality
- Less than 20 percent of diamonds mined globally are true gem quality.
- The word carat used to describe the weight of a diamond originated from the Carob Mediterranean tree, due to the fact the tree’s seed was used for weighing precious stones.
- 1 carat equals 0.2 grams or .007 ounces.
- In a pile of thousands of diamonds, you’ll only find one polished diamond that weighs more than 1 carat.
- The largest diamond discovered weighed 3,106 carats, which was discovered in 1905.
- Diamonds are colorless in their purest state.
- Yellow and brown diamonds are the most common colored diamonds.
- The rarest colored diamonds are blue and red.
Other Interesting Facts
- Diamonds are the hardest natural substance on the planet.
- Diamonds are nearly impossible to burn. In order to burn a diamond, it must be heated to 1292 degrees Fahrenheit.
- Diamond crystals move closer to the Earth’s surface through volcanic activity.
- Diamonds were formed billions of years ago as the result of tremendous pressure and extremely high temperatures.
- Diamonds were formed between 75 and 120 miles below the Earth’s surface.
- The earliest reports of diamonds date back to 500 B.C.
- Carat – While the value of a diamond goes up as the carat or weight increases, the size of the diamond can greatly affect its rarity. Large diamonds are more rare than small diamonds, so a larger stone doesn’t just cost more; it also costs more per carat.
- Only about 1 in 1 million diamonds mined are quality one-carat stones, only 1 in 5 million are 2-carat; and 1 in 15 million are 3-carat.
- Looks can be deceiving: If there are two D-color round brilliants with identical clarity and cut, that are close in carat weight, the one that appears larger, but actually weighs less, can often be considered more rare to a customer and fetch a higher price.
- Color –The world’s foremost diamond authority, the Gemological Institute of America, uses a grading scale that ranges from the most rare and valuable colorless “D” to the highly colored “Z”. However some colored diamonds, especially saturated pinks, blues, and greens, can be considered more rare than diamonds with less color.
- Clarity – Diamonds have internal features, called inclusions, and surface irregularities, called blemishes. Diamonds graded Flawless don’t have any of these visible clarity characteristics when examined under a microscope. Flawless diamonds are so rare that it’s possible to spend a lifetime in the jewelry industry without ever seeing one.
- Cut – The value and appearance (sparkle, brilliance and fire) of a diamond depends more on cut than any other factor. Cut refers not to a diamond’s shape (e.g. round, oval, pear, etc.) but to a diamond’s proportions, symmetry and polish.
- The largest diamond ever sold at auction was a 118-carat egg-sized jewel that went for $30.6 million at Sotheby’s in 2013, the highest price ever paid for a white diamond.