Leonard's Jewelers - Walter D. Leonard: "Price So Low, The Customer Walked"
Reputation still means something in this industry, and folks around here know we have a good one. Our store was founded in 1893. When the customer came in a few months ago looking for a 3 ct., round brilliant H SI1, he said it was our reputation that got his attention. But he also was "shopping around" for the best price. Isn't everybody these days?
I found the stone he needed on Polygon in a couple of minutes. In fact, I found about a dozen. The prices were good, but one was exceptional. Even after my markup, it was a great deal for the customer. Almost too great, as it turned out.
"No way," he said. "I've been shopping everywhere, and I know diamond prices. What you're quoting simply isn't believable." And he left!
I had a hunch he'd be back, so I had the stone shipped in (from Poly member #418). A couple days later, the customer returned and I showed it to him. It was nice — well made, GIA cert, great price.
"This is amazing," he said. "The other stones I looked at were kind of dull and looked yellow compared to this one. And the prices were much higher. How do you do it?"
"Well," I explained, "when you've been in business over a hundred years, you know where to get your diamonds..."
We made the sale, and now he's a regular customer. But it's true what I said. With a hundred years experience, we've developed a lot of contacts and a lot of expertise. And we certainly know where to buy diamonds. We buy them on Polygon.
You just can't beat the convenience of typing out a request and in a few seconds having it reach thousands of sources worldwide. The alternative is getting on the phone and having to explain what you need to Dealer A, then say it all over again to Dealer B, then to Dealer C, and so forth... Who has time for that?
Back when my grandparents ran the store, the key was providing good service and good value to customers. Today, it's Poly-Power that lets us carry on that tradition.
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