Almost all diamonds sold online, and better quality larger stones sold in the stores, come with a (supposedly) independent 3rd party grading report, or 'cert'. Reports help you ‘compare apples’ - but sadly there is no international standards body - different labs can give the same stone different grades.
The well known 3rd parties are GIA, AGS, IGI and EGL.
GIA grading reports are the most common listed on the web (about 3/4's of all listings). So let's take a look what it look like.

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