Monday, July 30, 2012

Ethical Standards in the Diamond Retail Industry

I want to start off by directing out that these are cover findings, and are my own. There are many devoted, reliable, and sincere people in valuable rock store company and you should give them credit for their initiatives to keep the market ethical, and to keep valuable customer assurance.

Ethics. They seem simple enough to understand, but somehow are quickly approved over, overlooked, or fallen. Every industry of company, education and studying, belief, even our life has it's own set and wide range of values. Many overlap, and are pretty conventional "rules" or ethical concepts of performing yourself in a culturally decided way. As a quick example; just as most people would not take a biscuit out of a small kid's hand, a entrepreneur should not misrepresent a piece of products to a potential customer.

It has unfortunately been my experience lately to work with customers who have been incorrect regarding a valuable rock they were marketed. Whether along with or clearness was not clearly described (or more intense was misrepresented), to size being mentioned in very common conditions such as parts. In the valuable rock market, as with any industry of company, it is illegal to misrepresent the value, features, or performance of any product. This contains misrepresenting or deceiving a stone's features in any way to the customer.

As with any market there have been increasing discomfort and studying shapes that the valuable rock system has needed to over come. One of which was how to signify you will of a valuable rock continually and perfectly in a way that was worldwide to everyone in the company and could be converted quickly to customers. These are now known as the GIA shade range of D-Z, and the 11 qualities that create up the GIA clearness rating range. Moreover to these machines, the conventional of exercise is to signify the size of a valuable rock in decimal form to the closest hundredth of a size.

A valuable rock that was marketed as "a carat" may actually end up with a weight of 0.97cts, and revealing it as being a size is simply incorrect. While this distinction may seem minor to many, it is illegal to the market, and will convert to a loss of value upon resell. All things being equivalent, there is a pretty big value distinction in value between a 1.00ct valuable rock and anything below that "magic number". In regards to this common promoting exercise, Area 23.12 of the US Government Business Percentage (FTC) Books for the Jewellery, Precious Materials, and Pewter Sectors clearly declares that providing size in such common conditions without further description of the actual size is "unfair and inaccurate."

The same is true with misunderstanding of a stone's clearness features and shade quality. More often than not, most people were informed when they bought a valuable rock that it was "flawless", "near flawless", or "perfect." To be immediate, very few gemstones have a clearness quality of "internally flawless", and even less have a rating of "flawless." Again, the FTC in the same book, section 23.17 declares in regards to explaining clarity:

"It is unjust or inaccurate to use the phrase 'flawless' to explain any valuable rock that reveals faults... [and] is unjust and inaccurate to use the phrase 'perfect,' or any reflection of similar significance, to explain any valuable rock unless the valuable rock satisfies the meaning of 'flawless' and is not of substandard shade or create."

Using such common explanations of a gemstones characteristic's is not only extremely deceiving, but gives an unjust reflection of the stone's value.

Education and information about what you are buying is the only way to know for sure that what you are spending for is what you are getting. When shopping for a rock, you should ask clear concerns to what you are buying.

"What is the actual size weight?"

"What is the stone's shade grade?"

"What is the stone's clearness grade?"

Asking particular and immediate concerns makes sure that the information you are getting is appropriate, and not just common conditions to explain the valuable rock. Keep in mind that buying a GIA qualified rock (one that has gone through separate GIA lab confirmation of it's characteristics) is the only sure way of understanding that without a question your one-carat, without color, ideal valuable rock is actually a 1.00ct, D Flawless diamon


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