16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001 #00025

Submission Number:
00025
Commenter:
George Kelemen
Organization:
Texas Retailers Association
State:
Texas
Initiative Name:
16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001
The Texas Retailers Association requests the addition of two rules to the proposed Jewelry Guidelines: 1. All entities using the diamond grading terminology developed by the Gemological Institute of America the "GIA" must also use GIA grading standards when using that terminology. 2. All entities selling diamonds using GIA terminology to describe the diamond must provide the consumer a refund if within one year of the sales date if the diamond is graded by the GIA and the resulting grade is found to be more than one color grade, clarity grade, or cut grade below the selling entity represented the diamond to be to the consumer at the time of sale. The addition of these rules would ensure consumers and ethical retailers are protected from the dishonest practice of applying the universally recognized diamond grading terminology established by the GIA and not applying those terms to the GIA standards of quality. We appreciate this opportunity to provide comments and your work on this matter. George Kelemen President & CEO Texas Retailers Association