This Diamond Ring Doesn't Shine For Me Anymore

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Posted By: bruce Dorskind

We have given considerable thought to the countless discussions surrounding
third party grading, subtle alterations and the entire issue of integrity on the part
of the auction houses, dealers and collectors.

What is quite astounding is there are very few aspects of our lives in which
we can not help but rely on the opinion of a third party grader.

Food companies have their beef graded, movie companies have their pictures
rated, umpires call balls and strikes all night and all season long and hundreds
of you have bought expensive diamond rings for your wives and/or significant
others.

In large part the price associated with that diamond ring was based on the grades
it received from an independent (GIA) third party grading service. As most of you
know, graded stones trade all the time just like baseball cards.

Meat inspectors, film board judges, umpires and GIA graders all make decisions.
People disagree, wrong decisions are made. Obvious flaws are missed.

The simple fact is that no system is and/or ever will be perfect. The buyers in all
cases are relying on the integrity, experience, expertise and reputation of the third
party. The vast majority of buyers will pay a significantly higher price for an item
that receives a high grade.

It is no different with baseball cards. We can complain all we wish, but unless and until
someone develops a viable alternative to grading...the beat will go on.


Bruce Dorskind
America's Toughest Want List