PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
EditorsMay 09, 2014
A report on grading reports
This week, WSMV-TV, an NBC affiliate in Nashville, Tenn., aired a two-part segment about Genesis Diamonds (not to be confused with lab-grown diamond company Gemesis), a local jewelry store that uses reports from EGL International, among other precious gemstone grading labs.
To me, the report that just aired in Tennessee seemed like a lot of he said-she said between the jeweler and others in the area who question the store’s business practices and use of EGL International certificates, as the lab has been said to over-grade diamonds.
For example: the “others” in the segment speaking out against Genesis claim that most of the diamonds the store sells have EGL International certificates. Genesis owner Boaz Ramon, meanwhile, said in the segment and told National Jeweler Thursday that 78 percent of his stones carry GIA certs while the rest are a mix among EGL USA, EGL International, IGI, AGS Labs and HRD Antwerp.
In the first of the two-part series, one of the gentlemen speaking out against this particular retailer says that Genesis is “basically changing the diamond market (and) the landscape in Nashville, and not for the good.”
But a myriad of other factors have changed the diamond market everywhere, including the Internet; consumers’ level of education about diamond buying; where, when and how consumers shop; a new generation with a different set of values and many more luxury items to choose from; the shrinking middle class … the list goes on.
What are retailers to do about it? I don’t claim to have all the solutions, but I don’t think complaining about competing jewelers use of EGL International is it. There’s nothing illegal about using these grading certificates.
In any industry, not just jewelry, all business people choose to run their operations differently. There’s nothing you can do about it. What you can control, however, is what goes on in your store. If you want to carry diamonds with EGL International certificates, then understand the alleged implications that go along with that and educate your customers accordingly.
If you choose not to carry diamonds from this lab, then understand that other retailers in your area might be carrying them, and be prepared to
Editors' Picks
Sponsored by
educate consumers who come in with grading report questions.
At one point in the segment, the anchor uses the phrase “alphabet soup” in reference to the initials of the various grading laboratories, IGI, GIA, EGL, etc. This actually brought a smile to my face. What would she think of she really knew the full scope of the “alphabet soup” in the industry, the latest, and arguably greatest, of which is the Precious Stones Multi-Stakeholder Working Group, or the PSMSWG. (Just rolls off the tongue, doesn’t it?)
In any case, her “alphabet soup” comment was not only spot-on, and truer than she realizes, but it illustrates a larger point: This type of information--color grades, clarity grades, the different laboratories, diamond prices--is all very confusing for consumers.
When news reports like this one air, it doesn’t really do anybody in the industry any favors. What it mostly serves to do, instead, is to fuel consumer sentiment that jewelers are dishonest and that consumers potentially are getting ripped off every time they enter a jewelry store.
At one point in the segment, the anchor uses the phrase “alphabet soup” in reference to the initials of the various grading laboratories, IGI, GIA, EGL, etc. This actually brought a smile to my face. What would she think of she really knew the full scope of the “alphabet soup” in the industry, the latest, and arguably greatest, of which is the Precious Stones Multi-Stakeholder Working Group, or the PSMSWG. (Just rolls off the tongue, doesn’t it?)
In any case, her “alphabet soup” comment was not only spot-on, and truer than she realizes, but it illustrates a larger point: This type of information--color grades, clarity grades, the different laboratories, diamond prices--is all very confusing for consumers.
When news reports like this one air, it doesn’t really do anybody in the industry any favors. What it mostly serves to do, instead, is to fuel consumer sentiment that jewelers are dishonest and that consumers potentially are getting ripped off every time they enter a jewelry store.
More on Editors
The Latest
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
