16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001 #00068

Submission Number:
00068
Commenter:
Ronnie VanderLinden
Organization:
Diamond Manufacturers & Importers Association of America
State:
New York
Initiative Name:
16 CFR Part 23, Guides for the Jewelry, Precious Metals, and Pewter Industries; Project No. G711001
FTC Revision of the Jewelry Guides The Diamond Manufacturers and Importers Association of America (DMIA), a 501-C6 organization representing the U.S. diamond industry since 1931, would like to respectfully address the issue of exaggerated or fraudulent diamond grading. There are dozens, if not hundreds, of professional, honorable diamond grading laboratories in the United States and around the world. Virtually all diamond grading laboratories issuing diamond grading reports today utilize what has come to be known as "GIA"(Gemological Institute of America) terminology. The problem lies that there are presently no legal restrictions defining, let alone preventing outright, fraudulent abuse of these descriptors. Experienced, professional members of the diamond trade often debate the color and/or clarity of a diamond, but this difference of opinion is almost always limited to a difference of only one grade higher or lower. Therefore, the DMIA states its belief that when using "GIA terminology" to describe the grade of diamonds to consumers, such descriptions must be within that one grade tolerance, and that such limitations should be written into the guides. Thank You for your consideration, Ronnie VanderLinden - President DMIA