JVC PRESENTS “COLOR GEMSTONE SALES: ARE YOU COMPLIANT OR AT RISK?” AT THE JA/NY 2008 SUMMER SHOW

SEMINAR SPONSORED BY
AMERICAN GEMOLOGICAL LABORATORIES

Attendees Will Receive “The Essential Guide to the
U.S. Trade in Irradiated Gemstones” brochure

New York City — June 24, 2008  – The Jewelers Vigilance Committee (JVC) is presenting “Color Gemstone Sales: Are you Compliant or at Risk?” sponsored by American Gemological Laboratories at the JA/NY Summer Show, Jacob Javits Convention Center, Monday, July 28, 2008, 8:30 AM – 10:00 AM, room IEO3.  Panelists include Christopher Smith, vice president and chief gemologist, American Gemological Laboratories (AGL), and Cecilia Gardner, JVC’s president, CEO and general counsel. Robin Spector, attorney for the Federal Trade Commission, will appear on video with comments she has previously made on the federal regulations governing gemstone disclosures.  

Topics to be discussed include: disclosure of gemstone treatment to consumers, current legislation and initiatives on gemstones from Burma; updates on irradiated gemstones, including selling current inventories and legal compliance obligations on the part of manufacturers and retailers to disclose treatment of color gemstones. Knowledge of these obligations will avoid exposure to expensive lawsuits.

Smith and Gardner will examine some of the challenges the colored gemstone industry face today, particularly supply side integrity – conditions under which colored gemstones are produced and distributed.   Ms. Gardner will review material presented by the Federal Trade Commission at a color gemstone seminar presented by JVC earlier this year. There will be a Q&A period.

Seminar attendees will receive “The Essential Guide to the U.S. Trade in Irradiated Gemstones” brochure, co-authored by JVC and the American Gem Trade Association (AGTA).

Said Christopher Smith:  “Proper representation during the sale of gems is essential to be fully compliant with FTC guidelines. This relates to the proper identification of the gem, as well as the disclosure of gemstone treatments. Today, gemstone treatments are more extensive than ever before and they are becoming more and more complicated in terms of the techniques applied, means of identification and terminology for full and accurate disclosure. As a result, accurate gemological authentication and disclosure from independent third-parties is becoming increasingly more important.”

Said Cecilia Gardner: “Color Gemstone Sales: Are you Compliant or at Risk?”  focuses on the issues facing colored gemstone manufacturers and retailers and the steps the industry must take to disclose colored gemstone treatment to consumers, securing distribution licenses for irradiated gemstones and current legal initiatives in the House and Senate regarding gemstones from Burma. Failure on the part of retailers and manufacturers to disclose treatment to color gemstones can result can result in costly lawsuits and negative publicity to jewelry businesses and to the industry.  JVC urges all jewelers to protect themselves from risk by disclosing any and all treatments -- and the effects of the treatments -- to color gemstones.  JVC thanks American Gemological Laboratories and Michael Haynes for their support to sponsor this important legal compliance seminar."

This seminar is free to attend. No registration is required.  Refreshments will be available. For more information about JVC’s free legal compliance seminars, products and services, visit JVC’s Website: www.jvclegal.org.

About American Gemological Laboratories
Founded in 1977 by C. R. “Cap” Beesley, American Gemological Laboratories (AGL), a subsidiary of the publicly traded Collector’s Universe (NASDAQ: CLCT), pioneered the development of the world’s first comprehensive Colored Stone Grading System. AGL has also provided detailed country of origin and enhancement reports for some of the most prestigious retailers and auction houses in the world for the past three decades. Today, AGL’s Fast Track suite of services and comprehensive Prestige program offer certification services for nearly all gemstones.

About Jewelers Vigilance Committee
Jewelers Vigilance Committee, founded in 1917, is a not-for-profit legal trade association fulfilling its mission to maintain the jewelry industry’s highest ethical standards. JVC offers dispute mediation and arbitration services for trade and consumers, compliance monitoring and precious metals testing, among many other services. JVC, long considered the industry’s guardian of ethics and integrity is a resource for the entire jewelry industry and its customers as well as an industry representative before government agencies, media and adjunct fields. For more information visit: www.jvclegal.org. 

#                                              #                                              #