The GIA laboratory in Ramat Gan, Israel, will close by the end of 2024 due to shifts in the global diamond industry, which have led to a steady decline in local client submissions over recent years.
Despite efforts to lower operating expenses and reduce staff through natural attrition, the lab, which was opened in 2012, remains financially unsustainable, the GIA said in a statement.
GIA President and CEO Susan Jacques said: “We will continue to serve our clients through other GIA locations.”
“Israel remains an important center for specialized diamond cutting and polishing,” she added.
All diamonds currently held at the Ramat Gan lab will be returned to clients along with the requested GIA reports.
Starting November 17, staff at the Ramat Gan location will continue to accept submissions, but services will be handled at other GIA laboratories.
Diamonds initially intended for processing in Ramat Gan will be sent to other GIA labs and returned to clients at no additional charge, although regular shipping fees will apply to submissions that were not previously serviced locally.
GIA is also working to implement a third-party system to handle walk-in submissions in Ramat Gan, directing them to other GIA labs for processing.
Further details on this arrangement will be shared soon, and the third party will be responsible for forwarding items to GIA laboratories and returning them to clients.
Abraham Dayan for Rough&Polished from Tel Aviv
