Collectors Universe Leaves Jewelry Business

By JCK Online Staff -- JCK Online, 4/1/2009 2:00:00 AM

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.

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