EGL Diamond Certification is done by the European Gemological Laboratory.
The price of diamonds is very much dependent on having a proper certification of that diamond.
A Certification is an assurance of quality. A diamond certification is a detailed diamond quality report issued by an accredited independent gemological laboratory. The most recognized gemological laboratories that provide certified diamond quality reports to the diamond and jewelry industry are listed below.
G.I.A. - Gemological Institute Of America
A.G.S. - American Gem Society
E.G.L. - European Gemological Laboratory
I.G.I. - International Gemological Institute
Certifications verses appraisals: It is vital to understand that appraisals are not the same as certifications and often not as accurate as a certified diamond quality report performed by an independent gemological laboratory. Such a report is based on a mechanical and technical examination of the diamond using verified test and electronic equipment . Appraisals are done individually by an appraiser and are only as accurate as the skill, knowledge and training of the appraiser.
A Certified Diamond Reports should provide the following information:
Comments about Diamond
Plot of Internal and External Inclusions
With the EGL certification, the EGL also issues a condensed report on a diamond known as a consultation. The difference between the consultation and the certification is that it does not have depth percentage, table percentage, polish and symmetry or fluorescence grades. And only documents the carat weight, color grade, clarity grade and plotting diagram. This is a quick short analysis useful when purchasing bulk diamonds.
EGL Certified Diamonds wholesale at as much as 20% less than similar clarity & color AGS or GIA certified Diamonds. This seems to indicate the diamond industry’s perception that the EGL certification does not quote equal the same standards of accuracy and reliability as say, the AGS or GIA certifications. This price variation can be utilized to find a diamond price below its actual quality but, for the most part, an owner of a diamond will recognize the true characteristics and quality of the diamond and price it accordingly.
So EGL Diamond Certification is, for Europe at least, a necessary activity to determine the price of diamonds.