CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
EditorsMar 11, 2009
Will Collectors Universe exploit AGL name?
The following blog entry was written and sent to us by Antoinette Matlins. So what happens now...and in the future? The manner in which Collectors Universe closed the doors on AGL on March 2 was unprecedented in this field and...
The following blog entry was written and sent to us by Antoinette Matlins.
So what happens now...and in the future? The manner in which Collectors Universe closed the doors on AGL on March 2 was unprecedented in this field and very disturbing on many levels. While these economic times may have resulted in CU having to withdraw from the gemstone arena, there was no need to execute it in the manner in which it was done; CU has caused chaos and confusion for thousands of people who have depended on AGL for years, and thrown into question the value of AGL reports, past and present. AGL was an institution as firmly entrenched and respected globally as GIA.What happens to the value of these documents now? Where are all of the files, with the detailed analysis done on each of the thousands and thousands of gemstones that have come through AGL's laboratory over the years? The sudden closure of its doors will affect collectors around the world and undermine their confidence in the value of their gemstones, and the credibility of their documents with the sudden disappearance of the lab that issued them.
Equally important, or perhaps even moreso, I'm concerned about CU's plans for the AGL name. The way CU has handled the closing of AGL demonstrates that CU management is capable of withholding important information and deceiving people who trusted them.
If CU is the owner of the AGL name, and if CU ever chooses to re-enter the gem field, I fear that CU will reintroduce the AGL name and exploit the reputation is has earned over the years. The value of the AGL name lies in the reputation it earned as a result of the knowledge, experience, and integrity of Cap Beesley and the AGL team, which now includes respected gemologists such as Chris Smith. The reputation of any laboratory--and the value of the paper it provides--is a direct reflection of the people running it. If AGL "paper" were to be resurrected at some future time--without this team--where would its value be? It should have NO VALUE, until it has EARNED value, and this could takes years. However, it would be easy to exploit AGL's current reputation. AGL has become a brand that assures people about the quality and representations related to a particular gem; an AGL report has enjoyed such a respected reputation that it
Editors' Picks
Sponsored by
has become an essential document affecting purchase decisions by consumers as well as the trade. I think that were CU ever to resurrect the AGL name, without the AGL team responsible for its reputation, this would be tantamount to consumer deception and misrepresentation. It would create confusion in terms of the thousands of pre-existing AGL documents and what they represent.
The manner in which CU has handled the closing of AGL reflects an attitude by CU management that suggests they are interested in only one thing: making money, regardless of how they make it. Their lack of sensitivity to, or interest in, handling this in a clean, thoughtful, and professional way, given what AGL represents to the entire gem trade, suggests that they could also proceed with using the AGL name because they lack the sensitivity to, and understanding of, the complexities of the gemstone world.
Personally, I believe we'll weather the current economic storms and there will be once again be a healthy gemstone market. When this time comes, I believe CU will resurrect the AGL name. I believe we mu
st all be alert to the possibility of this scenario taking place, and keep vigilant. And I also think we must be prepared to take a stand and inform consumers and collectors everywhere should this ever happen.
I'm now going to resume grieving....it is a sad, sad, sad state of affairs, indeed.
Antoinette Matlins
The manner in which CU has handled the closing of AGL reflects an attitude by CU management that suggests they are interested in only one thing: making money, regardless of how they make it. Their lack of sensitivity to, or interest in, handling this in a clean, thoughtful, and professional way, given what AGL represents to the entire gem trade, suggests that they could also proceed with using the AGL name because they lack the sensitivity to, and understanding of, the complexities of the gemstone world.
Personally, I believe we'll weather the current economic storms and there will be once again be a healthy gemstone market. When this time comes, I believe CU will resurrect the AGL name. I believe we mu
st all be alert to the possibility of this scenario taking place, and keep vigilant. And I also think we must be prepared to take a stand and inform consumers and collectors everywhere should this ever happen.
I'm now going to resume grieving....it is a sad, sad, sad state of affairs, indeed.
Antoinette Matlins
More on Editors
The Latest
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Weekly QuizApr 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
MajorsApr 25, 2024
Detroit Lions’ QB Jared Goff Keeps Going to JaredThe three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
WatchesApr 24, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
