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Labs Launch Credit Card-Sized Grading Reports

HRD Antwerp and IGI products are easier to transport and store.
Oct 26, 2017 4:35 AM   By Joshua Freedman
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RAPAPORT... HRD Antwerp and the International Gemological Institute (IGI) have both released credit card-sized diamond reports, aiming to make grading more efficient for traders.

The two Antwerp-based laboratories unveiled the polished-diamond identity cards this week, though their products are unrelated to each other. Both organizations’ reports contain the stone and the report together in a sealed card, making them easier to ship, store and sell.

HRD’s “ID CARD” is available for diamonds ranging from 0.08 carats to 0.298 carats, and includes grades for color, clarity, proportions and fluorescence. In addition, the organization’s new “ID CARD PLUS,” for stones between 0.30 carats and 0.998 carats, includes symmetry and polish — the same criteria that appear on the organization’s regular diamond reports. The products will be available immediately from HRD’s laboratories in Antwerp and Istanbul, and from the Mumbai base by the end of the year.

The compact, relatively low-priced document will improve transparency in trading of smaller diamonds, HRD’s CEO Michel Janssens told Rapaport News this week. Some 99% of polished diamonds traded around the world weigh less than 0.30 carats, but most of these do not carry a grading report because the cost of getting one cuts into dealers’ profit margins, he explained.

“With this product, we aim to bring a comprehensive solution to one of the diamond market’s main challenges: ensure confidence in small-sized diamonds,” Janssens added.

IGI, meanwhile, has named its new product the “Diamond ID,” which it launched in April but formally announced this week. IGI is aiming to create a safer and more efficient way to trade stones, with a report that users can easily ship and store or carry in a wallet. It is also cheaper than other reports and requires minimal office work for the holder, and makes the process of selling a diamond smoother, IGI explained.

“We created the Diamond ID report with a goal of making our evaluations easier to use and safer to transport,” said Roland Lorie, co-CEO of IGI. “Bringing together the report and stone in one secure place will allow industry professionals to do their work more efficiently.”

Both the HRD and IGI reports come with a unique barcode that links to more information about the diamond on the laboratories’ online user platforms, such as images or confirmation of authenticity.
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Tags: Antwerp, diamond grading, Diamond ID, diamond reports, grading, grading reports, HRD, HRD Antwerp, ID CARD, ID CARD PLUS, IGI, International Gemological Institute, istanbul, Joshua Freedman, Laboratories, Labs, Michel Janssens, mumbai, Rapaport News, Roland Lorie
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