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EditorsMar 11, 2009
Will Collectors Universe exploit AGL name?
The following blog entry was written and sent to us by Antoinette Matlins. So what happens now...and in the future? The manner in which Collectors Universe closed the doors on AGL on March 2 was unprecedented in this field and...
The following blog entry was written and sent to us by Antoinette Matlins.
So what happens now...and in the future? The manner in which Collectors Universe closed the doors on AGL on March 2 was unprecedented in this field and very disturbing on many levels. While these economic times may have resulted in CU having to withdraw from the gemstone arena, there was no need to execute it in the manner in which it was done; CU has caused chaos and confusion for thousands of people who have depended on AGL for years, and thrown into question the value of AGL reports, past and present. AGL was an institution as firmly entrenched and respected globally as GIA.What happens to the value of these documents now? Where are all of the files, with the detailed analysis done on each of the thousands and thousands of gemstones that have come through AGL's laboratory over the years? The sudden closure of its doors will affect collectors around the world and undermine their confidence in the value of their gemstones, and the credibility of their documents with the sudden disappearance of the lab that issued them.
Equally important, or perhaps even moreso, I'm concerned about CU's plans for the AGL name. The way CU has handled the closing of AGL demonstrates that CU management is capable of withholding important information and deceiving people who trusted them.
If CU is the owner of the AGL name, and if CU ever chooses to re-enter the gem field, I fear that CU will reintroduce the AGL name and exploit the reputation is has earned over the years. The value of the AGL name lies in the reputation it earned as a result of the knowledge, experience, and integrity of Cap Beesley and the AGL team, which now includes respected gemologists such as Chris Smith. The reputation of any laboratory--and the value of the paper it provides--is a direct reflection of the people running it. If AGL "paper" were to be resurrected at some future time--without this team--where would its value be? It should have NO VALUE, until it has EARNED value, and this could takes years. However, it would be easy to exploit AGL's current reputation. AGL has become a brand that assures people about the quality and representations related to a particular gem; an AGL report has enjoyed such a respected reputation that it
has become an essential document affecting purchase decisions by consumers as well as the trade. I think that were CU ever to resurrect the AGL name, without the AGL team responsible for its reputation, this would be tantamount to consumer deception and misrepresentation. It would create confusion in terms of the thousands of pre-existing AGL documents and what they represent.
The manner in which CU has handled the closing of AGL reflects an attitude by CU management that suggests they are interested in only one thing: making money, regardless of how they make it. Their lack of sensitivity to, or interest in, handling this in a clean, thoughtful, and professional way, given what AGL represents to the entire gem trade, suggests that they could also proceed with using the AGL name because they lack the sensitivity to, and understanding of, the complexities of the gemstone world.
Personally, I believe we'll weather the current economic storms and there will be once again be a healthy gemstone market. When this time comes, I believe CU will resurrect the AGL name. I believe we mu
st all be alert to the possibility of this scenario taking place, and keep vigilant. And I also think we must be prepared to take a stand and inform consumers and collectors everywhere should this ever happen.
I'm now going to resume grieving....it is a sad, sad, sad state of affairs, indeed.
Antoinette Matlins
The manner in which CU has handled the closing of AGL reflects an attitude by CU management that suggests they are interested in only one thing: making money, regardless of how they make it. Their lack of sensitivity to, or interest in, handling this in a clean, thoughtful, and professional way, given what AGL represents to the entire gem trade, suggests that they could also proceed with using the AGL name because they lack the sensitivity to, and understanding of, the complexities of the gemstone world.
Personally, I believe we'll weather the current economic storms and there will be once again be a healthy gemstone market. When this time comes, I believe CU will resurrect the AGL name. I believe we mu
st all be alert to the possibility of this scenario taking place, and keep vigilant. And I also think we must be prepared to take a stand and inform consumers and collectors everywhere should this ever happen.
I'm now going to resume grieving....it is a sad, sad, sad state of affairs, indeed.
Antoinette Matlins
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