MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
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
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
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
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.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
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.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
