Diamonds are graded by independent gemological laboratories, and these grading reports are used to determine the diamond’s price. Gemological laboratories are indispensable components of the diamond industry. These third party institutes grade diamonds and also help to regulate both diamond standards and business practices.
Certified diamonds are generally worth more than non-certified diamonds because they have been graded by independent gem labs. A diamond certificate serves as a written document that authenticates the diamond's reputed suitability for a specific purpose. The certificate describes the diamond's fair market value as well as its specifications. Independent gemological laboratories around the world prepare diamond certificates. Some well-known grading laboratories are: American Gem Society (AGS), International Gemological Institute (IGI), European Gemological Laboratory (EGL), Gemological Institute of America (GIA), and Global Gemological Laboratory (GGL).
 
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