They may be expensive, even very expensive, but they do exist. I am sure that GIA can follow the same logical path. Then why all that nonsense.
The way I understand it, Leonid, is that they wanted the colored
stone grading system to have some degree of consistency with the much
better known and already familiar diamond grading system. Because
users of the diamond grading system have a pretty good idea of what
different grades mean in terms of relative rarity, they wanted the
colored stone system to have some reasonable degree of similarity.
VVS1 or even flawless diamonds are very rare, but not unknown. They
have enough availability that the market can fit them into some
level of market pricing with those grades. The idea of the colored
stone grades, since they use somewhat similar sounding (and meaning)
grades is that the grades would represent some similar level of
rarity and desireability and meaning, since it was felt that if the
definitions themselves were too wildly different, they not only
would never be properly understood and used, but they wouldn’t even
be remembered. Without those, the new colored stone system stood no
chance of acceptance and use.
You are, of course, correct that it is not impossible to have a
truly flawless emerald to the same standards as a flawless diamond.
But stones like that would be so very rare that they’d have no real
meaningful placement in a market pricing system. They’d either be
priced as unique items, or simply lumped in with the very slightly
lower quality stones that could still be obtained and which the
market generally already accepted as top quality. In addition, there
is no flawless grade in colored stones simply because it was felt
that, given the greater degree of fragility and rate of wear in
colored stones, even if a stone came from the cutter in truely
flawless condition, it stood no chance of retaining that condition
for any reasonable minimum time period. Even flawless diamonds are in
peril of loosing that designation from even the slightest wear and
tear, but they are durable enough that some might remain flawless
for a reasonable length of time, thus the utility of that grade in
grading gems for jewelry use. An emerald might be truely flawless
straight from the cutter, but that grade would become meaningless in
any stone destined for jewelry, if one used the same stringent level
of examination used for diamond in that grade. So the top grade in
emerald doesn’t mean there cannot be stones within that grade that
are at it’s top end, maybe even deserving of special mention, it
just means that any grade higher than that doesn’t have any real
meaningful function for stones used in jewelry. They can’t remain
that good for any meaningful length of time, so why set a standard
that won’t ever be reached. There are people for whom nothing but a
flawless diamond is good enough, even when the limitations are
explained to them. Their thinking often is driven simply by the fact
that there IS such a grade, so they want it. Creating a simllar grade
for emeralds would create demand for stones that jewelers simply
couldn’t meaningfully supply, thus frustrating both jewelers and
consumers. Fitting the grades to what actually does exist in a real
world environment is just more reflective of real world grades, and
existing practice in the gem markets.
Peter