Independents

After a Lifetime in Jewelry, Cos Altobelli Retires

IndependentsFeb 10, 2021

After a Lifetime in Jewelry, Cos Altobelli Retires

Spurred by COVID-19, the jewelry-maker, expert appraiser and author closed his Burbank, California store last year.

20210210_Cos_at_AGS_library.jpg
In 2011, the American Gem Society named its library in honor of Cos Altobelli for the years of service he dedicated to the organization. It is located at AGS headquarters in Las Vegas.
Los Angeles—Cos Altobelli, the legendary jeweler and appraiser, had a retirement plan. 

He would keep working for a couple more years then, at the spry young age of 93, call it quits and ease into a life of golf and travel. 

But, like so many others, the pandemic derailed his long-laid plans. 

He opted to close his Burbank, California jewelry store in July 2020 and head into an early—by his standards only—retirement out of concern for his health and safety. 

“It’s a peculiar virus,” he remarked in a phone interview with National Jeweler last month. “You just don’t know.”

His retirement comes after a career of jewelry design, making, repairing, appraising and consulting that spanned decades, and generations. 

Altobelli grew up in Chicago, the son of a master jewelry craftsman, Luigi Altobelli, who had learned the trade from his father, Cosimo Altobelli, in Italy. 

He was repairing clocks by age 9, watches by 13 and making gold and platinum jewelry by the time he was 17. 

Despite the family tradition, and the early practice, jewelry was not Altobelli’s first choice of career. 

He wanted to be a baseball player and, in fact, used to lie to his parents about his participation in America’s pastime.

Altobelli said he used to tell his parents he needed to stay after school to do homework when he was actually playing baseball in a Chicago city league. 

He was so good at the sport, in fact, that Altobelli said he was offered a contract with the Cincinnati Reds Double-A team but ultimately had to decline. 

His father had purchased land in Los Angeles and, he informed the family, they were moving west to open a jewelry store. 

Altobelli Jewelers opened its doors in North Hollywood in 1948.

It was in California that Altobelli began to carve out his own path in jewelry, learning more about gemstones and, later, jewelry appraisals. 

“It was very difficult living with my father because he was a genius,” he said. “I had a long way to go before I could be near his level of talent.”

He earned his graduate gemologist diploma from the Gemological Institute of America in 1949. 

He took over the family business in 1963 and, in 1969, attended his first AGS Conclave. 

It was there, he said, that he became interested in appraising, a skill that would become a lifelong passion and lead to endeavors well beyond those of your typical jewelry store owner.
Over time, Altobelli created the AGS’s Certified Gemologist Appraiser (CGA) program, which includes a practical exam, where people examine pieces of jewelry, as well as a theory exam. He became a CGA himself in 1983. 

According to AGS, it was the first formal appraisal education program in the United States. 

“There was nothing like it before,” pointed out longtime friend and fellow AGS jeweler and CGA Cathy Calhoun. “Everything he has done for AGS and its members, and me as a young gemologist, he did all this for free. He never charged. 

“I wouldn’t have even got any further in appraising if it weren’t for Cos mentoring me. I could pick up the phone at any time, with any jewelry or appraising question, and he’s on it. Day or night, you get your response.”


Altobelli pinning Bill Boyajian at AGS Conclave in 2013 when Boyajian won the Shipley Award. Altobelli said he attended 50 consecutive Conclaves, from 1969 until the last one in 2019. (There was no Conclave in 2020 due to the pandemic.)
Altobelli pinning Bill Boyajian at AGS Conclave in 2013 when Boyajian won the Shipley Award. Altobelli said he attended 50 consecutive Conclaves, from 1969 until the last one in 2019. (There was no Conclave in 2020 due to the pandemic.)

Altobelli’s appraising talents have also landed him on the speed dials—or, in this day and age, the Favorites lists—of numerous attorneys as well as the IRS.

He’s done expert witness work for the IRS, appraising donations to determine if the value has been overinflated.

Law firms have retained him to testify in court cases involving diamonds, colored gemstones and jewelry more than 100 times, he said.

The most high-profile among them: the case of Drew Brees and the colored diamonds for which the New Orleans Saints quarterback claimed he overpaid.

Brees’ attorney retained Altobelli in the case and they won, securing a $6 million judgement for the future Hall of Famer.

He also wrote the book on jewelry appraising, literally.

First published in 1981, the fourth edition of “The Practical Guide to Jewelry Appraising” just came out and is available on Amazon and through AGS.

Altobelli’s appraisal work, including his contributions to AGS, are so numerous that it’s easy to forget he also ran a jewelry store in Hollywood for decades—he counted the late Bob Hope and Clint Eastwood among his clientele—and did property work for more than 100 movies and TV shows.

For the iconic 1993 hit film “Sleepless in Seattle,” he made the little diamond necklace Meg Ryan’s character, Annie, wears throughout the movie.

For “Hook,” Steven Spielberg’s 1991 movie starring the late Robin Williams, Dustin Hoffman and Julia Roberts, Altobelli created the earrings for the pirates, the buttons for their uniforms, the engraved gauntlet Captain Hook (Hoffman) wore and more.  And he ran all over Southern California securing the pocket watches and clocks that haunted Hook.

Altobelli moved his jewelry store from North Hollywood to Burbank in 2008, and was still going into the office regularly as of last year, at the age of 90, until the pandemic hit.

“We would have let him work at least another year had COVID not occurred,” his wife, Kelly Altobelli, said. (When asked if he would still be working if Kelly hadn’t made him retire, Cos’s answer was a definitive, “yes.”)

The same can be said of his career as a skier, a hobby he gave up when he hit 90.

“I wanted to ski last year but she wouldn’t let me,” he laughed.

Altobelli with, clockwise from bottom, wife Kelly Altobelli, jeweler Georgie Gleim and jeweler Cathy Calhoun at the Laguna Seca Raceway. In addition to making jewelry, appraising jewelry and skiing, Altobelli also raced a Ferrari for seven years. He won at Laguna Seca in 1981, and retired then and there from racing.
Altobelli with, clockwise from bottom, wife Kelly Altobelli, jeweler Georgie Gleim and jeweler Cathy Calhoun at the Laguna Seca Raceway. In addition to making jewelry, appraising jewelry and skiing, Altobelli also raced a Ferrari for seven years. He won at Laguna Seca in 1981, and retired then and there from racing.

In January, Cos and Kelly relocated permanently, from L.A. to Las Vegas, where Cos said he’ll be working on his golf game and, with Kelly’s help, marketing his book.

As far as being a jeweler and appraiser, though, Cos said he is officially retired. 

He and Kelly have plans to buy a bigger SUV and embark on road trips to places like the Crater of Diamonds State Park in Arkansas and, of course, stop at some AGS stores along the way, where he’ll no doubt be a welcome, and familiar, face. 

In addition to being instrumental in creating the AGS’s CGA program in 1983, Cos has chaired the Appraisals Standards subcommittee since 1983 and continued to teach the program at Conclave through 2019. 

He also has been a frequent speaker at Guild meetings and a contributor to the recertification exam, as well as numerous other AGS publications. 

Cos received the organization’s highest honor, the Robert M. Shipley Award, in 1987, and the organization’s library at its Las Vegas headquarters bears his name. 

AGS and AGS Labs CEO Katherine Bodoh said the organization cannot thank the now-retired jeweler enough for his many contributions over the years. 

“Members of the AGS community use words like ‘legend’ and ‘icon’ to describe Cos,” she said. “The praise is well-deserved.”

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

2025 National Jeweler Retailer Hall of Fame inductees
Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame Inductees

This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.

Harwell Godfrey Granny Square Eleanor Necklace
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

 Laura Gallon Joaillerie “Dynasty” ring, Bijules “Compass” bolo tie, Löf “The Orbitalis” ring
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design Atelier

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

DCA-student-cert-NJ1872x1052-2.png
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry Business

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Jack Abraham The Royal Ruby Collection
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las Vegas

The “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.

Weekly QuizJun 05, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Daymond John
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

Vaishali Banerjee and Pallavi Sharma
MajorsJun 05, 2025
Platinum Guild International Updates Leadership Team

Two existing executives have been given new roles.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Meredith Tiderington
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship Recipient

Meredith Tiderington, an electrical engineering student, was selected for the award.

The Gemological Institute of America’s logo
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown Diamonds

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

Exterior of the Venetian and the Las Vegas Sphere
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 Sessions

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

JCK show
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Amy Curran
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.

Her new role is director of strategic initiatives.

The eight rings in Viviana Langhoff’s AU79 jewelry collection
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into Gold

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

Gold and diamond bangles on a pair of jeans
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%

On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.

Woman’s hand holding shopping bags
SurveysJun 03, 2025
Consumer Confidence Improves in May

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

Dakota Johnson as Roberto Coin Brand Ambassador
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand Ambassador

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

Mason Kay Jade necklace
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade Reports

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Gemfields ruby
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat Ruby

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Adobe Stock image of skyline of Bangkok, Thailand
GradingJun 02, 2025
GSI Opens New Lab in Thailand

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Seaman Schepps pearl earrings
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June

Those born in June have a myriad of options for their birthstone jewelry.

David Allouche
SourcingJun 02, 2025
David Allouche Joins Grandview Klein Diamonds

The diamond industry veteran has been named its senior sales executive.

Movado Connect 2.0 watches
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment

The company plans to raise the prices of select watches to offset the impact of tariffs.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy