GIA Cuts Prices 10% Amid Market Slowdown

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PinkDiamond
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GIA Cuts Prices 10% Amid Market Slowdown

Post by PinkDiamond »

Although the reason they give for the slowdown is certainly plausible, I had to chuckle wondering if people starting to read the fine print that says they're not liable for any errors in their reports has anything to do with it. :lol:

GIA Cuts Prices 10% Amid Market Slowdown
Jul 16, 2019 5:07 AM By Joshua Freedman

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"RAPAPORT... The Gemological Institute of America (GIA) has temporarily reduced grading fees for certain smaller diamonds after recording a drop in submissions during the recent industry slump.

The organization is slashing prices of reports by 10% for polished weighing from 0.30 to 0.49 carats until October 15, the GIA said in a letter to clients last week, seen by Rapaport News.

“Right now, GIA is issuing fewer laboratory reports than normal because the industry is ... "

https://www.diamonds.net/News/NewsItem. ... 2bSlowdown
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rocks2dust
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Re: GIA Cuts Prices 10% Amid Market Slowdown

Post by rocks2dust »

PinkDiamond wrote:Although the reason they give for the slowdown is certainly plausible, I had to chuckle wondering if people starting to read the fine print that says they're not liable for any errors in their reports has anything to do with it.

Yep... and maybe now folks are also going to start wondering about how much they are paying for those overpriced "certificates" that certify nothing, why the lab biz is so lucrative, and how much more they could discount the prices before they'd come closer to what the pieces of paper represent (i.e., that someone glanced at their gem, typed into a computer and sent out a cert containing some info that might, or might not, be correct)?
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