Christopher P. Smith has completed his acquisition of American Gemological Laboratories (AGL).The lab held an opening reception at its 580 Fifth Avenue headquarters Monday.
Smith, the vice president and chief gemologist for AGL for two years, reached an agreement March 28 to purchase AGL, including its name and various assets, from Collectors Universe.
On March 2nd, Collectors Universe announced its decision to exit the gem and jewelry business.
“I have been directly involved with the operation of AGL and having helped manage the business since December 2006; acquiring the lab seemed like a natural progression.” Smith said.
The new AGL will retain most of the original team including Smith, Elizabeth Quinn Darenius, Maria Frances, Sun Joo Chung and Bilal Mahmood.
The lab has focused mainly on colored stones, but it is branching out into identification of colored diamonds.
The lab was originally begun by C.R. “Cap” Beesley. Beesley is not associated with the new lab.