Lab-grown diamonds may be getting cheaper, and so are the prices of some of their reports.
Next year, the Gemological Institute of America’s (GIA) grading lab will offer less expensive, more stripped-down lab-grown diamond reports, which will list the 4Cs but leave out other information specific to lab diamonds.
“In the first quarter of 2023, we will launch a new digital-only report for laboratory-grown diamonds with the 4Cs specifications,” says spokesperson Stephen Morisseau.
“Reflecting how the market has evolved and the fact that there is less consumer or retailer interest in growth method and treatments, the new report will not specify growth method or post-growth treatments. As this information is costly to determine, the new report will have a lower cost,” he says.
The new reports will also not include plots of inclusions.
GIA will still offer its current laboratory-grown diamond reports—which include info on whether the diamond was treated, a specification of its production method (either high-pressure, high temperature or chemical vapor deposition), and inclusion plots.
Market sources say GIA’s diamond reports do not have the same prominence in the lab-grown diamond market as they do in the natural diamond market. They note that GIA’s reports cost more than those of other labs—at least for now—and GIA’s grading standards are also considered tougher than some of its competitors.