UK jewellery sector failing on diamond grading reports

LONDON - DECEMBER 07:  Brilliant cut diamonds with weights from .51 to 1.01 carat on December 7, 2006 in London, England.  The  UN General Assembly passed a resolution on December 4, 2006 backing the Kimberley Process, a global initiative aimed at preventing "conflict diamonds" from funding warfare and civil unrest.  The issue will be highlighted by the forthcoming release of the new Leonardo Di Caprio film "Blood Diamonds"  (Photo by Bruno Vincent/Getty Images)

95% of UK customers would like to receive an independent grading report when buying a diamond, yet only 42% actually receive one, it has been claimed.

A study by the International Institute of Diamond Grading & Research into attitudes towards diamond grading reports in the UK market revealed a major “gulf” between what customers want and market reality.

The De Beers-owned organisation said the findings bring clarity to the prevalence and demand for grading reports in the UK by exposing the extent to which customers are not receiving the diamond grading reports they desire.

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Respondents offered a strong belief that grading reports enhance the confidence in a sale and the value of the diamond, however only around half of those that wanted one when buying a diamond received it.

Over 80% believe that an independent grading report increases confidence in the retailer, or trust in the diamond’s source, while 56% stated that an independent grading report made them believe a diamond was worth more.

Bringing all these effects together, 91% of respondents stated that an independent grading report would make them more likely to buy a piece of diamond jewellery from a retailer.

Respondents were preselected through the purchase or receipt of a diamond engagement ring in the last 10 years and were a balanced cross section of the UK in terms of location, gender and age, according to IIDGR.

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