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The Gemological Institute of America is a well-known entity in the jewelry and gemstone trading industry, being the principal regulation agency that issues certificates of authenticity to diamonds and other gemstones being put up for sale in the United States and in other countries. The Institute, or the gia as it is more commonly called, is responsible for grading and rating diamonds and other gemstones according to quality. The gemstones are classified according to their size, color, and weight, and in the case of diamonds are graded according to the four Cs or cut, clarity, color, and carat. A diamond’s carat weight contributes a great deal to its value and is perhaps the most important trait that jewelers and gemologists consider when grading these gemstones. A diamond which has a higher carat weight fetches a higher price than the ones with lower carats even if it is noticeably smaller than others in size.