Why we so strongly urge folks to rely on GIA grading
This is a case where the difference in value between the incorrect report, and the GIA report is more than double.
That's right.
K/I1 x 2.25 = I/SI2

I believe the diamond has intrinsic value making it worth owning at a reasonable price for K1i- which is how we bought it.
I'm sure we can find cheaper 4+ct K/I1 diamonds.
But not horse head diamonds- especially good looking ones.



Note the substantial difference in LxW measurements

What are the implications:
For me, speaking strictly as a merchant, the main implications are of unfair advertising.
Consumers are mislead daily by sellers who know how to grade the diamonds, yet insist on publishing inaccurate grades.

I'm not saying a stone is bad because it lacks a GIA report
This is a good stone to use as an example.
I was not put off by the substandard report- because I'm a diamond grader. We purchased the diamond after convincing the cutter to price it based on my grade.

I don't blame the cutter- as they are not selling to consumers.
Buying diamonds wholesale, in the true sense- is a serious business requiring a strong stomach.
A mistake can cost thousands.
Make a few too many mistakes and you will be out of business

Consumers should not be put in that position.

Whoa, that is pretty crazy! Just further proof that it is so important to have a GIA report. Among many other reasons (they're the more reliable lab, strictest grading standards, they created the 4 C's), having a GIA report can mean saving you money in the long run because they are just hands down the most accurate. I already felt this way, but no way I would buy a diamond that wasn't GIA-certified after seeing this.