International Gemological Institute (IGI) has forged a “strategic alliance” with Charles & Colvard, which will see IGI issue grading reports for Charles & Colvard’s lab-grown moissanite.
IGI will grade the moissanite based on its regular standards for clarity and cut, as well as its recently introduced light performance measures for round brilliant diamonds.
Color, however, will be graded selectively. Charles & Colvard CEO Don O’Connell tells JCK that only D and E stones will receive individual color grades. (The color of Charles & Colvard’s highest-end product, Forever One, falls in the D-through-F and G-H range.)
For F-color moissanite and below, IGI will just note color ranges—“colorless” for F stones, “near colorless” for G-H stones. All moissanite will be laser-inscribed by IGI.
To prepare for these new reports, Charles & Colvard will elevate the minimum clarity of Forever One moissanite to VVS. (Previously, the product’s minimum clarity was VS.)
Avi Levy, president of IGI North America, says IGI plans to issue reports only for moissanite from Charles & Colvard, though it will continue to offer either an identification report or a certificate of authenticity for moissanite created by other manufacturers.
The news comes as some in the lab-grown diamond market are starting to question the economics of getting grading reports for their stones, given the steep drops in lab-created diamond prices.
In a release sent out today, the new Grown Diamond Trade Organization argued that traditional lab grading reports weren’t necessary for created diamonds—and its logic was quite similar to that originally used by De Beers’ Lightbox brand.
“Lab-grown diamonds are manufactured to strict standards and should be graded accordingly,” said the group’s executive director, Marty Hurwitz, in the statement. “Lab-grown diamonds are grown to strict tolerances with multiple quality control steps throughout. Sending a grown diamond to a laboratory to verify the quality after it’s produced is akin to reopening and tasting every bottle of wine after it’s corked. It simply doesn’t make sense.”
Even though moissanite generally sells for less than lab-grown diamonds, O’Connell says, “we believe the IGI reports will add value to our moissanite. We believe the consumer wants to know that they’re getting quality products, that it’s not just generic moissanite. We want to hold everyone accountable, including ourselves. A lot of people say they sell D flawless moissanite. Now we’re saying, ‘Prove it.'”
O’Connell acknowledges that “there’s a bit of a premium associated with the reports, but there’s a premium associated with Charles & Colvard moissanite as well.” He says the new reports won’t affect Charles & Colvard’s plan to reduce the cost of its moissanite, to be more competitive with lab-grown diamonds.
To start, IGI reports will accompany Forever One stones. Eventually, Charles & Colvard’s less expensive Forever Bright stones will carry IGI jewelry cards.
(Photo courtesy of Charles & Colvard)
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