Palmieri Finalizes GCAL Acquisition
By JCK Online Staff -- JCK Online, 4/8/2009 11:45:00 AM
The Palmieri Group, led by Donald A. Palmieri, said it has concluded the acquisition of Gem Certification & Assurance Lab, Inc. and other assets.
The Palmieri Group sold GCAL to Collectors Universe, Inc. in 2005. However, Collectors Universe, in early March announced that it would exit the diamond grading business due to unfavorable conditions in the jewelry market. Don and Pam Palmieri, who originally founded GCAL in 2001, said in a statement Wednesday that they are “happy to be back in total control.”
“We are very fortunate to have a virtual ‘Dream Team’ of experienced and professional gemologists, customer service, fulfillment, and IT professionals, as well as good old, home-grown management that always protects the integrity and high ethics of the company,” said Don Palmieri, GCAL president.
During the Collectors Universe tenure, GCAL gained international recognition and developed numerous certification services, most notably the “GCAL Zero Tolerance 4C’s Guarantee,” which means that GCAL stands behind each and every diamond they grade. In 2008, GCAL became the first North American gem lab to become certified “ISO 17025 Laboratory Accredited” through the Geneva, Switzerland, international certifying body.
In 2007 GCAL launched CDEDiamonds.com, a B2B diamond exchange offering GCAL Guaranteed Certified Diamonds for wholesale and retail dealers. Angelo Palmieri, GCAL’s ISO management representative, served as director of CDEDiamonds.com
This site expanded its offerings since its launch, with the additions of Certified Jewelry, Matched Pairs, Botswana & Canadian diamonds, and enhanced member services.
More recently, GCAL and IDS (Ideal Diamond Solutions) have initiated a working alliance to offer turn-key e-commerce Web sites and fulfillment services for retail jewelers.
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The palmieri's are wonderful people, having work in both lab with over 13 years of management experience i know more than the average person knows after you submit your diamond and leave the booth. Believe me and trust that at GCAL your grading is done with the outmost integrity. Don & Pam Palmieri should be celebrated in the industry for having the courage to have a money back guaranteed that protects consumer as well as the seller. I believe that the same way GIA is needed in the industry, so it's GCAL. Having worked at both lab i could tell you that in both labs you have dedicated people that take the ultimate care of your diamonds, the Palmieri's are right on top of my list along with Mr. Moses from GIA
Rick Montilla - 2009-26-5 12:25:00 EDT -
Family is the core of our industry. Last I heard, 92% of jewelry companies in this country are family businesses. The Palmieri's are a wonderful example of how the power of family is able to overcome adversity. After 40 years in the diamond grading business, Don Palmieri's reputation and integrity appear to be impeccable.
As for GCAL, I know of no other grading certificate that offers a writtten guarantee of accuracy. If they make a grading error, the company will refund the difference in the value of the diamond to the consumer. Check out the fine print of most all other grading certificates. Most state that they cannot be held responsible for errors in grading.
GCAL reports not only have the normal information found in grading certificates, but also include direct light performance analysis, Gemprint and a money back guarantee of accuracy. Seems like a great value for my customer. Am I missing something?
Jeff Corey - 2009-13-4 07:08:00 EDT -
Palmieri’s "good old, home-grown management always protecting the company" is a great Palmieri quote in this article.
Gill - 2009-8-4 18:56:00 EDT -
Three “Palmieris'†Read the article again! It is husband, wife and son all in charge of grading. Why would JCK publish a self serving release unless they want to expose garbage grading?
Been there too - 2009-8-4 14:48:00 EDT -
Palmieri Group is a husband and wife team
happy to be back in “total control.†Koodo’s for admitting Palmieri’s need to control the grading by the “familyâ€. Who needs GCAL, I have cousin Vinny grading in house. lol
Diamondlifetimer - 2009-8-4 12:47:00 EDT
