ColumnistsMay 27, 2026
What Jewelers Can Learn From Luxury Fashion’s Digital PlaybookHigh-end fashion houses know how to emotionally connect with customers online. Retail jewelers should take note, Emmanuel Raheb writes.
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.)
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
Events & AwardsMay 27, 2026
5 Security Tips for Las Vegas Jewelry Market Week 2026This year, it’s what could happen outside of show hours that worries JSA Executive Vice President Scott Guginsky.
Events & AwardsMay 27, 2026
Couture’s ‘The Iridescence’ Will Showcase 7 Emerging Jewelry DesignersThe designers are the third cohort of mentees from the show’s Belonging @ Couture mentorship program.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
