Menu Click here
website logo
Sign In| Sign Up
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
MY IDEX
My Bids & Asks My Purchases My Sales Manage Listings IDEX Onsite Company Information Branches Information Personal Information
Logout
Newsroom Full Article

GIA Forms International Diamond Consolidator Network

August 10, 06 by Edahn Golan

The Gemological Institute of America (GIA) is forming an international network of take-in windows for the GIA Laboratory and its clients, titled LabDirect. The network will be managed by forwarding services, referred to by the GIA as consolidators.

 

Until now, GIA take-in window rights were exclusive to the diamond trading firm Rapaport. In the aftermath of the recent Certifigate scandal at the GIA, the organization decided to allow more companies to operate them.

 

According to GIA chairman Ralph Destino, consolidator contracts have been signed with Rapaport, international diamond and jewelry courier Malca-Amit, and the Dubai Multi Commodities Center (DMCC). Rapaport will be providing access to GIA via Brink’s offices worldwide. GIA’s own offices in Geneva, Hong Kong and Antwerp will provide similar services, as will GIA’s education affiliate in Japan, the Association of Japan Gem Trust (AGT).

 

“We are building a first-class international network of drop-off and shipment points to assist the maximum number of clients in moving their goods to the GIA Laboratory in a safe, expedient, and cost-effective way,” said Destino.

 

Consolidators will prepare stones for shipping to GIA with an agreed upon protocol, communicate grading results back to the clients, and be responsible for collecting payment from clients.

 

In establishing these arrangements, GIA said in a release, it’s fulfilling its pledge to widen access to its laboratory services by discontinuing its former “membership” structure.

 

“We established this new system in the belief that it will provide definite benefits for our clients in speed, reliability, and efficiency. We look forward to working with our customers and the industry as this network continues to roll out,” said Destino.

Diamond Index
Related Articles

IDEX Online Exclusive: GIA Decides on Overhaul – Appoints New Head, Cancels Rapaport Exclusivity, Abolishes Diamond Industry Donations

November 22, 05 by IDEX Online

Read More...

Rap’s GIA Connections

November 10, 05 by Chaim Even-Zohar

Read More...

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.
Our Services About IDEX Privacy & Security Terms & Conditions Sign-Up Advertise on IDEX Industry Links Contact Us
IDEX on Facebook IDEX on LinkedIn IDEX on Twitter