Trade Resources

Smart sourcing and buying is paramount to a jeweler’s success; buying the right items at the right prices will translate into more sales and better margins. Yet, buying – whether it is over the counter or directly from a supplier - is complex and can lead to costly mistakes when you don’t have all of the necessary information.

The shop should be just like any other department or profit center in your store. It must be a profit center and you should demand as much.

You can make more gross profit dollars as a percentage from the shop than you can from the case. Customers will pay for convenience, quality and trust.

Warranty is a cost of business and customers expect you to stand behind your work. A jeweler will go out and buy a cell phone or other electronics and expect it to work flawlessly for 1 full year. If it has ANY problem and you take it back to the retailer and let them know

In January you think about Uncle Sam and filling out your tax return. That’s once a year and this is not about your favorite Uncle. It’s about your favorite Governor. You know, the guy who collects the sales tax each month.

Ron Samuelson of "Jewelers Facebook Network" puts out good emails about the jewelry industry. He also owns his own store "Samuelson's Diamonds" in Baltimore.

Jewelers are like the Wild West. Free thinkers, creative with a devil may care attitude at times. We love the independence of calling our own shots, good or bad Some will become large enterprises, like taking a 10 room hotel and turning it into a chain with exquisite rooms, a bar and restaurant while others are just as happy to have their corner cafe.

I don't think the gold selling bug is over yet but I'm writing this at the end of April and many jewelers across the country have reported people selling their jewels have dropped off as much as 30%. Many have said the quality of items is also lower and lower price points. There is a gleam of happiness with some jewelers as a few have said people selling their 2 ct and above diamonds have increased.

There's many ways to sell jewelry and I think you'll agree that life would be great if you could just sell more stuff from the case.

Consumers have two places to purchase jewelry.