Collectors Universe Leaves Jewelry Business
Collectors Universe is leaving the jewelry grading business and will no longer own the two labs it spent millions on in 2005 and 2006-GCAL (Gem Certification and Appraisal Lab) for diamonds, and AGL (American Gemological Laboratory) for colored stones.
Collectors Universe said jewelry grading revenues were down 25 per-cent in the second quarter of 2009, with the division posting a $10 mil-lion loss. The company will continue to license its Gemprint identification technology and related patents.
CEO Michael Haynes leaves the company as of April 1.
Tags: Jewelry
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