Both GIA and EGL are very reliable independent diamond grading laboratories. They both employ leading gemologist and use the highest technologies to grade diamonds. Both set industry standards and are well respected.
Both GIA and EGL do not make diamonds, rather diamonds are sent to them to get a completely independent and objective diamond grading report.
Why the Price Difference?
One of the main reasons for GIA being more expensive than EGL is the fact that GIA diamonds are much more popular and well known in the U.S. because of their grading scale. This makes the demand for GIA diamonds higher which also raises the prices. This is true mainly to the U.S., in other markets around the world, i.e. Europe and Russia EGL diamonds are in very high demand.
The Price difference is becoming smaller
EGL diamonds are becoming very popular, which means that their prices are also going to increase overtime. We have noticed a shift in popularity in the past few years between GIA and EGL. For example in Texas, EGL diamonds are much more popular and in higher demand than GIA. We expect to see this trend continue in the next few years.
Take advantage of the opportunity
Right now while GIA diamonds are still in higher demand in the U.S. which raises their prices, this presents an opportunity that might not always be available. This provides a rare opportunity for diamond shoppers in the U.S. to purchase larger EGL diamonds for a much cheaper price compared to the same GIA diamond.