The leading international professional diamond trade network, RapNet, has decided to exclude stones from its database, evaluated by some gemological laboratories of EGL International. This was reported by the American television channel WSMV Channel 4. As the diamond expert from New York Josh Fishman told the channel, RapNet refused to accept for auction all the precious stones that received certificates from the Hong Kong and Israeli laboratories of the company EGL.
The reason for the decision were reports that laboratory experts overstate such indicators of stone quality as color and purity.
WSMV Channel 4 and other US media previously reported cases of the sale by the Genesis Diamonds retailer of diamonds certified by the Israeli laboratory EGL International, the quality of which was lower than that stated in the accompanying documents.
According to jeweler Bob Forster (Bob Forster), during the certification of one of these stones in the Gemological Institute of America (Gemological Institute of America, GIA) it was found that the color indicators were overstated by four positions, and the purity - by one position. So, experts GIA attributed the color of the diamond to the category K, and not to G, and the purity was rated as VS2 instead of VS1.
Many jewelers believe that the decision of RapNet to remove from the auction diamonds certified in laboratories of EGL International, can lead to catastrophic losses for retailers, as well as to the termination of the gemological company in Israel.
The RapNet management has not yet responded to the request of WSMV Channel 4 to comment on reports on the withdrawal of polished diamonds certified by EGL International.
In turn, the owner of Genesis Diamonds Boaz Ramon (Boaz Ramon) argues that the assessment of the quality of diamonds is subjective and the fault of his company is not here.