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C.R. 'Cap' Beesley disconnects from AGL

April 02, 2009

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Former American Gemological Laboratories President C.R. "Cap" Beesley.

New York--Well-known gemologist and former American Gemological Laboratories (AGL) President C.R. "Cap" Beesley is no longer affiliated with the lab, which is now under new ownership.

In a statement issued earlier this week, Beesley said, "I want to make my position absolutely clear. I am not affiliated or connected with American Gemological Laboratories in any way or in any capacity."

Beesley, a Graduate Gemologist of the Gemological Institute of America and recipient of numerous industry awards, founded New York-based AGL in 1977, and remained at the helm even after its 2006 purchase by Collectors Universe, a Newport Beach, Calif.-based company that deals in the valuation of collectibles such as baseball cards and autographs.

Last month, however, Collectors Universe, which also owned the Gem Certification and Assurance Laboratory, decided to exit the gem-grading business because of uncertainty about its future profitability.

Over the weekend, news surfaced that former AGL Chief Gemologist and Vice President Chris Smith would be the new owner and operator of AGL, after opting to buy the lab's name and various assets from Collectors Universe.

The lab will continue to operate out of the same location, 580 Fifth Ave. in Manhattan, in the heart of New York City's Diamond District.

Though Beesley was not a part of this deal, he vowed in the press release to remain active in the industry.

"I want to put to rest any rumors about retirement, the word is not in my vocabulary and I have no intention under any circumstances of riding off into the sunset," he said.
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