Why AGS Is Closing Its Lab, Merging It With GIA
CEO Katherine Bodoh said the merger will allow AGS to focus on its “original vision” as a trade organization and grow Conclave.
The AGS Labs research staff, intellectual property, technology, and Las Vegas facility will be integrated into GIA, which will utilize the facility as a center for research.
Financial terms of the deal were not disclosed.
AGS Labs will continue to provide services until the end of 2022; it said it will contact clients with details of the transition.
In addition, a “client checklist” as well as a list of frequently asked questions about the lab’s closure is available on the AGS website.
AGS and GIA said they will combine their gemological research efforts to develop new products and services to protect consumers and support the trade, like light performance research and a science-based fancy cut grade standard—an avenue of research that is a “very active pursuit” at the lab, it confirmed recently.
The collaboration will allow AGS to focus on its retailer programs and additional member education opportunities, building up its signature event, AGS Conclave, event and exploring new possibilities for members, CEO Katherine Bodoh told National Jeweler in an interview Thursday.
“As an organization, we’re constantly challenging ourselves about how we can exceed expectations for our members, how we can utilize the technology and tools available to us to do what we need to do,” she said.
“That journey led us back to our original vision as a trade organization while also asking how we can make the biggest impact and adjust that vision.”
Robert M. and Beatrice Shipley founded both GIA and AGS in the 1930s. AGS launched AGS Labs in 1996.
With their shared missions for the trade and consumers, the two organizations have collaborated in the past.
“The wonderful thing about being founded with the same vision is that we’re both asking, how can we make the biggest and best impact for the industry, and it makes it easy to say what does that look like, how do we do something bigger than both of us?” Bodoh said.
AGS headquarters will remain where it is in Las Vegas, near the facility where GIA and the combined research teams will be located.
With the collaboration, GIA will create an endowment to support AGS and its membership through education and credentials.
GIA also will make the new AGS Ideal Report, which grades light performance, available as a digital-only supplement to its own diamond reports for round brilliant and fancy shape diamonds.
This will combine the AGS Ideal Report with the four Cs grading from GIA.
AGS’s popular cut grading system—which grades cut on a scale from 0 to 10, with 0 being “Ideal” and 10 being “Poor”—will remain with it.
GIA said clients will be able to request the supplemental reports starting in January for an additional $25.
More details about the “AGS Ideal Report Brought to You By GIA” will be available soon, it said.
“By harnessing each other’s strengths to move forward boldly, consumers will be better protected, and we will ensure the longevity of the Shipleys’ vision,” GIA President and CEO Susan Jacques said in a statement from the lab.
“I would like to thank the AGS International Board of Directors and the GIA Board of Governors for supporting this new phase in the close relationship between our two organizations.”
The Latest
The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.