AMERICAN GEM SOCIETY UNVEILS FIRST-EVER FANCY CUT GRADING SYSTEM AND NEW ROUND BRILLIANT CUT RESEARCH

New Cut-Grading System Provides Consumers with New Level of Confidence

NEW YORK CITY, New York­  

Today, the American Gem Society (AGS) Board of Directors announced the launch of its new fancy cut diamond grading system. After five years of research and development, the AGS is able to present the industry with a highly advanced system that will make it possible to cut grade fancy shape diamonds.

The AGS Laboratories (AGSL) will begin cut grading the ever-popular square princess cut in the first quarter of 2005. The AGS fancy shape cut-grade research project, funded in part by Jewelers Circular Keystone, reevaluated the AGS diamond cut-grading system by applying new knowledge of diamond optics and performance. The ongoing research project, under the direction of AGSL Executive Director Peter Yantzer, included a designated task force comprised of AGS and AGSL employees, industry experts and physicists. The results of this research have been reviewed, verified and accepted by the AGS Gemological Sciences Committee.

“The AGSL continues to be the premier laboratory in the cut-grading assessment of diamonds and the new research solidifies that reputation,” said Yantzer. “The new system incorporates the most advanced technology to provide consumers with a scientifically sound level of confidence when shopping for a diamond.”

The new technology utilizes three-dimensional imaging and optical ray tracing to evaluate a diamond’s cut. The attendant software evaluates brightness, dispersion, leakage, contrast and spread, as well as traditional proportion factors to assign a grade.

“AGS’s mission has always been to protect the consumer and to maintain the highest industry standards,” said Ruth Batson, executive director and CEO of AGS. “It was only natural that AGS took advantage of the new technology and tools available to evaluate fancy cut diamonds and improve the overall cut-grading system.”

As a result of the new technology and research obtained in the fancy shape research project, the AGS is modifying the round brilliant cut-grading scale to reflect these advancements. The new round brilliant scale assesses diamonds using the same machinery and the same factors as the new fancy cut system.

“AGS’s cut-grading scales have always been dynamic, changing to reflect new research and technological advancements since the original scale was developed in 1966,” said Batson. “We spent years researching the round brilliant and the results validate Marcel Tolkowsky’s theoretical diamond, while providing additional parameters to cut high performance diamonds.”

Although the methodology for determining AGS potential Zeroes has changed, the industry can remain confident that AGS standards remain the same. As always, an AGSL grader and AGS members will personally judge a diamond for craftsmanship, polish and symmetry. In addition, the consumer-friendly AGS zero-to-10 scale will remain unchanged. AGS Triple Zeroes will continue to designate an ideal grade, but the new subcategories now will include light performance, proportion factors and finish.

Diamond Quality Documents™ incorporating the changes in the diamond grading scale for square princess and round brilliant cuts will be available during the first quarter of 2005, followed by additional fancy shapes. In mid-2005, AGS members will have the opportunity to acquire software and training to perform their own cut analysis.

“The AGS has always been widely known in the industry as the foremost authority on cut grade,” concluded Yantzer. “Because a diamond’s cut is the most important factor in how it performs, AGSL is committed to using the most advanced technology and science available when it comes to assessing and grading cuts, now and in the future.”

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The American Gem Society, founded in 1934 by Robert M. Shipley, is a trade association dedicated to proven ethics, knowledge and consumer protection within the jewelry industry. All members are held to high ethical standards in the industry and are re-certified annually to maintain their AGS titles.

For more information regarding the American Gem Society please call 702.255.6500, or visit the AGS website at www.ags.org