Gemfields ups transparency on stone reports

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Gemfields and Gubelin Gem Lab go ahead with ‘next generation’ system.

Gemfields and Gübelin Gem Lab have partnered to introduce a ‘next generation’ disclosure for gemstone reports, allowing dealers to waive their right to anonymity when delivering a stone for laboratory testing.

Traditionally, gemstone certificates have been issued without disclosing the identity of the party presenting the gemstone to the laboratory for a report. As such, the party with custody of the gemstone at that point has remained anonymous.

As a result of the new changes initiated in partnership with Gemfields, Gübelin Gem Lab will now offer all of its clients the choice of whether or not they wish to have their names included on gemstone reports issued by Gübelin Gem Lab.

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The new approach represents an important step in furthering the level of disclosure and transparency in the chain of gemstone custody, providing improved understanding of a gemstone’s journey through the market.

It is hoped that the new approach will be adopted by other laboratories and gem industry participants.

Gemfields CEO Ian Harebottle,said: “Gemfields believes that the more information we can share about a gemstone’s journey, the better. This innovation will improve the resolution of the chain-of-custody picture available to consumers and industry participants.

"Simply put, the market will better understand the hands a gemstone has passed through. I’m particularly pleased that this initiative has been developed by Gemfields and Gübelin Gem Lab within the coloured gemstone sector, and we hope, as the global gem industry marches toward greater transparency and disclosure, that it will also be adopted by our colleagues in the diamond business, where it would beequally beneficial.”

Gübelin Gem Lab managing director Daniel Nyfeler, commented:"Gübelin Gem Lab is delighted to offer its clients the choice of having their names disclosed on our reports. This is a voluntary measure and one which we hope will be embraced by our clients in the gemstone trade and retail business, and eventually be adopted by other laboratories in pursuit of an improved customer offering and greater industry transparency.”

 

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