GradingJan 05, 2023
GIA’s Migration to All-Digital Reports Has Begun GradingJan 13, 2023
Sarine To Acquire Majority Stake in GCAL
The acquisition allows GCAL to expand overseas while giving Sarine a “recognized and respected” channel for offering eGrading in the U.S.
Sarine Technologies Ltd. has signed a memorandum of understanding to acquire a majority stake in New York-based grading lab GCAL, which will transition to using Sarine’s automated, cloud-based and artificial intelligence-driven eGrading technology.
New York—Israel-based Sarine Technologies Ltd. is set to acquire a majority stake in the Gem Certification and Assurance Lab, the laboratory Don and Pamela Palmieri opened more than 20 years ago.
Sarine announced the pending acquisition early Thursday, stating it had signed a non-binding memorandum of understanding (MOU) to purchase GCAL in an all-cash deal that’s subject to customary due diligence.
The financial terms of the deal are not being disclosed. A closing date and the name for the combined entity will be announced once due diligence is completed, Sarine said.
The acquisition will give New York-based GCAL, a single-lab operation, opportunity to expand overseas by using Sarine’s automated, artificial intelligence-driven eGrading while giving Sarine ownership over a grading laboratory with a known and respected name.
“We are thrilled by this opportunity to join forces with and acquire a major position in GCAL,” Sarine CEO David Block, who was traveling Thursday and unavailable for an interview, said in a press release.
“I am confident that GCAL, leveraging Sarine’s technologies, will now be able to increase its market presence, to the benefit of the industry in general and to U.S. consumers in particular, without degrading from their industry-unique principles of guaranteed quality and consistency. No less importantly, Sarine will gain access to the Palmieris’ decades-long experience in managing a gem lab with the highest standards possible and will gain a recognized and respected channel through which to offer the expansive key U.S. retail industry its grading technologies, to the benefit of retailers and consumers alike.”
Angelo Palmieri, GCAL’s chief operations officer, said in an interview Thursday that in the last decade or so, the industry has seen major labs rapidly open multiple locations overseas, only to have the quality and consistency of their grading deteriorate.
GCAL views using Sarine eGrading as the way to expand overseas without sacrificing quality or its Zero Tolerance 4Cs Consumer Guarantee, the lab’s cash-back policy for consumers that guarantees the accuracy of the cut, color, clarity and carat weight on GCAL certificates.
“We would have not sold the company if we had to abandon the guarantee,” GCAL President Don Palmieri said.
Angelo said Sarine’s AI machine grading offers consistent and accurate grading if the machines are programmed correctly, and GCAL is “highly confident” they are.
Don added, “There’s no question that when it comes to diamond technology, [Sarine] is the leader in the world. We like to believe we [at GCAL] are the most accurate and consistent, though probably the smallest, of the internationally recognized labs.
“By taking our integrity and the quality of the work we do and connecting it with AI, it’s a grand-slam homerun.”
Related stories will be right here …
Sarine announced the pending acquisition early Thursday, stating it had signed a non-binding memorandum of understanding (MOU) to purchase GCAL in an all-cash deal that’s subject to customary due diligence.
The financial terms of the deal are not being disclosed. A closing date and the name for the combined entity will be announced once due diligence is completed, Sarine said.
The acquisition will give New York-based GCAL, a single-lab operation, opportunity to expand overseas by using Sarine’s automated, artificial intelligence-driven eGrading while giving Sarine ownership over a grading laboratory with a known and respected name.
“We are thrilled by this opportunity to join forces with and acquire a major position in GCAL,” Sarine CEO David Block, who was traveling Thursday and unavailable for an interview, said in a press release.
“I am confident that GCAL, leveraging Sarine’s technologies, will now be able to increase its market presence, to the benefit of the industry in general and to U.S. consumers in particular, without degrading from their industry-unique principles of guaranteed quality and consistency. No less importantly, Sarine will gain access to the Palmieris’ decades-long experience in managing a gem lab with the highest standards possible and will gain a recognized and respected channel through which to offer the expansive key U.S. retail industry its grading technologies, to the benefit of retailers and consumers alike.”
Angelo Palmieri, GCAL’s chief operations officer, said in an interview Thursday that in the last decade or so, the industry has seen major labs rapidly open multiple locations overseas, only to have the quality and consistency of their grading deteriorate.
GCAL views using Sarine eGrading as the way to expand overseas without sacrificing quality or its Zero Tolerance 4Cs Consumer Guarantee, the lab’s cash-back policy for consumers that guarantees the accuracy of the cut, color, clarity and carat weight on GCAL certificates.
“We would have not sold the company if we had to abandon the guarantee,” GCAL President Don Palmieri said.
Angelo said Sarine’s AI machine grading offers consistent and accurate grading if the machines are programmed correctly, and GCAL is “highly confident” they are.
Don added, “There’s no question that when it comes to diamond technology, [Sarine] is the leader in the world. We like to believe we [at GCAL] are the most accurate and consistent, though probably the smallest, of the internationally recognized labs.
“By taking our integrity and the quality of the work we do and connecting it with AI, it’s a grand-slam homerun.”
GCAL leadership will remain in place following the proposed acquisition, and Don and Angelo said GCAL will be retaining all of its staff and likely adding more.
It will also stay in its current location, on the 27th floor at 580 Fifth Ave.
Both Don and Angelo said it is too early to say where and when GCAL might be opening labs overseas.
While GCAL will be transitioning to AI-based grading, Don said gemologists are still going to be examining the diamonds submitted to the lab for grading.
He also said GCAL will not stop offering any of its services—like its new cut grade standard 8X—because of the acquisition but, instead, will be adding more, such as Sarine’s Journey reports, which trace diamonds from mine to market.
Don and Pamela Palmieri opened GCAL in 2001.
They sold the lab to Collectors Universe (which also owned American Gemological Laboratories, or AGL, at one point) in 2006 but bought it back in 2009.
Angelo joined GCAL in 2005. He became an equal partner in the business after they repurchased the lab from Collectors Universe.
Sarine is based in Hod HaSharon, Israel, and is publicly traded on the Singapore Exchange Mainboard.
More on Grading
The Latest
TrendsJun 20, 2025
Dua Lipa Stays On-Trend With Chunky Engagement RingThe singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.
TrendsJun 20, 2025
Piece of the Week: Yvonne Léon’s ‘Python Gold’ BraceletThe bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.
CrimeJun 18, 2025
7 Men Indicted in $100M Brinks Jewelry HeistThe heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
AuctionsJun 18, 2025
Historic ‘Marie-Thérèse Pink’ Diamond Fetches $14M at Christie’sThe 10-carat fancy purple-pink diamond with potential links to Marie Antoinette headlined the white-glove jewelry auction this week.
Weekly QuizJun 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJun 18, 2025
Q&A: Caryl Capeci Dives Into Cruise Jewelry ShoppingThe Starboard Cruises SVP discusses who is shopping for jewelry on ships, how much they’re spending, and why brands should get on board.
AuctionsJun 18, 2025
16th-Century ‘Gresham Grasshopper’ Ring Sells for $56KThe historic signet ring exceeded its estimate at Noonans Mayfair’s jewelry auction this week.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
CollectionsJun 18, 2025
Kirk Kara Celebrates 135 Years With New JewelsTo mark the milestone, the brand is introducing new non-bridal fine jewelry designs for the first time in two decades.
SourcingJun 18, 2025
Gemfields Sells 36-Carat Rough RubyThe gemstone is the third most valuable ruby to come out of the Montepuez mine, Gemfields said.
TechnologyJun 18, 2025
Alex Brown Named President of Smithee GroupFounder and longtime CEO Ben Smithee will stay with the agency, transitioning into the role of founding partner and strategic advisor.
EditorsJun 17, 2025
The Best New Jewelry from Couture 2025, Part 1Associate Editor Natalie Francisco shares 20 of her favorite pieces from the jewelry collections that debuted at Couture.
ColumnistsJun 17, 2025
Peter Smith: Is Your Comp Plan a Hiring Hindrance?If you want to attract good salespeople and generate a stream of “sleeping money” for your jewelry store, then you are going to have to pay.
AuctionsJun 17, 2025
Colored Gemstones, Signed Jewels Shine in Sotheby’s High Jewelry SaleThe top lot was a colorless Graff diamond, followed by a Burmese ruby necklace by Marcus & Co.
MajorsJun 17, 2025
Amanda Gizzi Gets a Promotion at JAGizzi, who has been in the industry since 2001, is now Jewelers of America’s senior vice president of corporate affairs.
MajorsJun 17, 2025
Kering Names Automotive Exec as Its New CEOLuca de Meo, a 30-year veteran of the auto industry, will succeed longtime CEO François-Henri Pinault.
EditorsJun 16, 2025
Q&A: Bogolo Joy Kenewendo on Mining, Tariffs, and the Energy of Las VegasFollowing visits to Vegas and New York, Botswana’s minerals minister sat down with Michelle Graff to discuss the state of the diamond market.
IndependentsJun 16, 2025
Greenwich St. Jewelers Launches Commitment Campaign Celebrating LGBTQ+ CouplesThe “Your Love Has the Perfect Ring” campaign showcases the strength of love and need for inclusivity and representation, the jeweler said.
MajorsJun 16, 2025
Ivette Nersesyan-Stephanopoulos Joins Tiffany & Co.The former De Beers executive is the jewelry house’s new director of high jewelry for the Americas.
MajorsJun 16, 2025
Catbird Names WNBA Star Nyara Sabally as Its New Brand AmbassadorThe New York Liberty forward is the first athlete to represent the Brooklyn-based jewelry brand.
CollectionsJun 13, 2025
Piece of the Week: Robinson Pelham’s Pear EarringsTake a bite out of the 14-karat yellow gold “Fruits of Love Pear” earrings featuring peridots, diamond stems, and tsavorite leaves.
Events & AwardsJun 13, 2025
AGA to Host ‘Diamonds From Mine to Market’ Education ConferenceThe one-day virtual event will feature speakers from De Beers, GIA, and Gemworld International.
EditorsJun 12, 2025
15 Questions With Jewelry Photographer Ella SophieThe California-based creative talks jewelry photography in the modern era and tackles FAQs about working with a pro for the first time.
AuctionsJun 12, 2025
Vintage Patek Philippe From the ‘50s Sells for $4M at Sotheby’s Al Capone’s pocket watch also found a buyer, though it went for less than half of what it did at auction four years ago.
Events & AwardsJun 12, 2025
Gabriel Love Foundation Introduces Scholarship Honoring Elias GabrielThe foundation has also expanded its “Stronger Together” initiative with Jewelers for Children.
AuctionsJun 12, 2025
Former De Beers Exec Celine Assimon Joins BonhamsAssimon is the auction house’s new chief commercial officer.
EditorsJun 11, 2025
Q&A: Al Cook on Differentiating Natural Diamonds, Traceability, and TariffsThe De Beers Group CEO discusses the company’s new “beacon” program, the likelihood diamonds will be exempt from tariffs, and “Origin.”
