TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
EditorsOct 07, 2014
The importance of being honest
Last week another laboratory, EGL Platinum, issued a statement speaking out against the over-grading of diamonds while seeking to separate themselves from the EGL labs associated with this practice, a statement issued in the wake of the Rapaport Group’s move to quit listing diamonds graded by any EGL lab on RapNet.
I see the labs’ point; over-grading by some shouldn’t overshadow the work of every lab with the initials EGL, and, to be fair, it seems the industry’s diamond trading platforms agree. Polygon, for example, made a decision to quit listing diamonds from EGL International but not EGL USA.
And so I called Martin Rapaport, chairman of the Rapaport Group, last week with one question on my mind: Would he consider relaxing the RapNet ban to allow for EGL reports from labs with a better track record? The short answer is no. He said consumers don’t understand the difference between the various EGL brands, and EGL labs that don’t want to be associated with over-grading need to change their names.
“If you want to be a legitimate laboratory you cannot use the same brand name” as a lab that’s over-grading, Martin Rapaport said. “Consumers … are not going to understand the difference between a good EGL and a bad EGL. Good EGLs need to change their name so they are not confused with bad EGLs.”
During the course of the conversation, I asked Rapaport about a rumor I’d heard recently that his group plans to issue grading reports in the near future. I mentioned that some had speculated that, perhaps, this was part of the reason for his decision to quit listing all EGL-graded diamonds.
He categorically denied that this has anything to do with why he chose to stop listing all EGL-graded diamonds. He did it to make a statement about over-grading and to separate his marketplace from marketplaces in which diamonds are misrepresented. “I am not worried about what people say (about my intentions),” he told me. “I am worried our industry is supporting a bunch of liars and cheaters who defraud consumers. This industry isn’t fighting against people who are lying to consumers.”
(As for the grading report rumors, he said Rapaport Group, which has offered a range of gemological services since 2007 but never grading reports, likely will begin issuing grading reports for investment-grade diamonds only next year, but offered little detail on the program. “We will give free and fair announcement before we do something,” he said.)
Editors' Picks
Sponsored by
During our conversation last week, Rapaport also told me that he thinks I, along with the rest of the trade press and industry organizations like the WFDB, JA, AGS and JVC, need to quit being neutral on the topic of over-graded diamonds and speak out against labs that are “lying to consumers.”
So, in writing this today, I would like to take a cue from a father of many (Martin Rapaport) and pass along a little (more) wisdom from a dad to two, my own father. It is one of my favorites from him, along with “do what you love and the money will come.”
His advice: those who are honest always come out ahead.
If you own a store, don’t sell diamonds to your customers with grading reports from any lab that you feel overstates the quality of the stones they grade, even if the store, or stores, down the street are doing it. A recent InStore column by Terry Chandler (who also calls upon a parent’s wisdom) advises the same.
In the short term, sales might be lost but, in the long term, larger headaches will be avoided. Case in point, the current consumer-brought lawsuits against Genesis Diamonds in Tennessee. Win or lose, do you really want to spend your store’s time and resources defending yourself in court?
You don’t have to take just my word for it. Listen to the advice of a fellow jeweler, Tom Daube, owner of Washington Diamond in Falls Church, Va.
Long before the current furor erupted, Daube added a page to his website explaining to customers why he has opted not to sell diamonds graded by any EGL lab. This page, he told me, has been up for nearly 10 years now.
When I found the web page, I called Daube to speak with him about his stance on EGL. One of my main questions was, has he lost sales to jewelers who sell over-graded diamonds? The answer was yes, but, “We have a very highly educated clientele and they respect our ethics,” Daube told me.
And, perhaps more importantly, “I sleep well at night,” he says. “I know I’ve done the right thing for my customers.”
So, in writing this today, I would like to take a cue from a father of many (Martin Rapaport) and pass along a little (more) wisdom from a dad to two, my own father. It is one of my favorites from him, along with “do what you love and the money will come.”
His advice: those who are honest always come out ahead.
If you own a store, don’t sell diamonds to your customers with grading reports from any lab that you feel overstates the quality of the stones they grade, even if the store, or stores, down the street are doing it. A recent InStore column by Terry Chandler (who also calls upon a parent’s wisdom) advises the same.
In the short term, sales might be lost but, in the long term, larger headaches will be avoided. Case in point, the current consumer-brought lawsuits against Genesis Diamonds in Tennessee. Win or lose, do you really want to spend your store’s time and resources defending yourself in court?
You don’t have to take just my word for it. Listen to the advice of a fellow jeweler, Tom Daube, owner of Washington Diamond in Falls Church, Va.
Long before the current furor erupted, Daube added a page to his website explaining to customers why he has opted not to sell diamonds graded by any EGL lab. This page, he told me, has been up for nearly 10 years now.
When I found the web page, I called Daube to speak with him about his stance on EGL. One of my main questions was, has he lost sales to jewelers who sell over-graded diamonds? The answer was yes, but, “We have a very highly educated clientele and they respect our ethics,” Daube told me.
And, perhaps more importantly, “I sleep well at night,” he says. “I know I’ve done the right thing for my customers.”
More on Editors
The Latest
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
