Colored-stone graders American Gemological Laboratories, based in New York, has been purchased by Collectors Universe for $3.5 million in cash, with contingent payments of up to an aggregate of an additional $3.5 million over the next five years based on the performance of AGL.
AGL was founded in 1977 by C.R. “Cap” Beesley. Beesley will retain that position even though the lab will be operated as a wholly owned subsidiary of Collectors Universe.
In November 2005, Collectors Universe acquired diamond lab Gem Certification and Assurance Lab and in December 2005 acquired all the assets of Gemprint. (For more on GCAL, see “What’s a GCAL?” on page 114.)