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Retailer Roundtable: What jewelry trends are you seeing leading up to Vegas?

Retailer Roundtable: What jewelry trends are you seeing leading up to Vegas?

Q: What jewelry trends are you seeing leading up to...

JCK Vendor/Supplier Roundtable

JCK Vendor/Supplier Roundtable

This month rather than our usual Retailer Roundtab...

GIA’s M2M app helps retailers tell a diamond’s story

GIA’s M2M app helps retailers tell a diamond’s story

As the creator of the 4Cs, GIA (Gemological Instit...

Other News

IDEX reports De Beers to auction polished diamonds made from its own rough

IDEX reports De Beers to auction polished diamonds made from its own rough

(IDEX Online) – De Beers' Auction Sales business will pilot the sale of its own polished diamonds using auctions for the first time. The sale will comprise a wide range of polished stones manufactured directly from its rough diamonds.

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Industry Events

Dates announced for 2017 ACE It Conference

Dates announced for 2017 ACE It Conference

Appraisers Continuing Education

The National Association of Jewelry Appraisers (NAJA) announces its 48th Annual Mid Year ACE© It Education Conference to be held in Indianapolis, IN on August 12 - 15, 2017. 

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On The Move

Rio Grande announces winners of the 17th Annual Saul Bell Design Award

Rio Grande announces winners of the 17th Annual Saul Bell Design Award

At a celebration dinner held on May 21 during the Santa Fe Symposium® in Albuquerque, NM, Rio Grande announced the winners of the 17th annual Saul Bell Design Award competition. Through rigorous judging, two panels of experts chose first- and second-...

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What's New

Featured Articles

Voyager Brands up and running with bright ideas, creative new brands

Voyager Brands up and running with bright ideas, creative new brands

When Shreyansh Shah arrived from India, he was looking forward to seeing a little snow. He got more than he bargained for - and he was delighted.

“I came to the United States in December 1998 and was welcomed by 2 feet of snow in Chicago,” says Shah, ...

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Latest News

IDEX reports De Beers to auction polished diamonds made from its own rough

12 HOURS AGO
IDEX reports De Beers to auction polished diamonds made from its own rough

(IDEX Online) – De Beers' Auction Sales business will pilot the sale of its own polished diamonds using auctions for the first time. The sale will comprise a wide range of polished stones manufactured directly from its rough diamonds.

Readmore

Ring bought at flea market turns out to be 26+ carat diamond

12 HOURS AGO
Ring bought at flea market turns out to be 26+ carat diamond

One lucky lady snagged the deal of a lifetime over 30 years ago when she purchased what she thought was merely a fun cocktail ring, but what turned out to be a diamond worth more than $450,000.

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Dates announced for 2017 ACE It Conference

12 HOURS AGO
Dates announced for 2017 ACE It Conference

Appraisers Continuing Education

The National Association of Jewelry Appraisers (NAJA) announces its 48th Annual Mid Year ACE© It Education Conference to be held in Indianapolis, IN on August 12 - 15, 2017. 

Readmore

Jewelers of America to host Legislative Forum on Capitol Hill

12 HOURS AGO
Jewelers of America to host Legislative Forum on Capitol Hill

Dinner & Forum will be part of the association’s annual advocacy visit

(NEW YORK) - Jewelers of America (JA) has announced it will host a Dinner & Legislative Forum on Tuesday, June 20, 2017 at the prestigious Army & Navy Club in Washington, D.C. The event - open to both JA Members and non...

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Rio Grande announces winners of the 17th Annual Saul Bell Design Award

12 HOURS AGO
Rio Grande announces winners of the 17th Annual Saul Bell Design Award

At a celebration dinner held on May 21 during the Santa Fe Symposium® in Albuquerque, NM, Rio Grande announced the winners of the 17th annual Saul Bell Design Award competition. Through rigorous judging, two panels of experts chose first- and second-place winners in each of eight competitive categor...

Readmore

Finalists and judges announced for 2017 Saul Bell Design Awards

14 DAYS AGO
Finalists and judges announced for 2017 Saul Bell Design Awards

Rio Grande, the organizer of the Saul Bell Design Awards ( www.saulbellaward.com ), is pleased to announce the finalists of the 17th annual international jewelry-making and hollowware competition, as well as the two panels of experts tasked with judging the finalists’ work.

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Gesswein introduces Formlab Form 2 desktop printer

13 HOURS AGO
Gesswein introduces Formlab Form 2 desktop printer

Gesswein, supplier of precision tools and equipment for over 100 years, is pleased to introduce the Formlab Form 2, an affordable desktop printer suitable for every bench.

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Hoover & Strong introduces certified lab grown diamond selection

8 DAYS AGO
Hoover & Strong introduces certified lab grown diamond selection

Hoover & Strong has announced the addition of certified lab grown diamonds to their product selection.

“Hoover & Strong continues to lead the ethical jewelry movement with its newest addition of Harmony Lab Grown Diamonds. We have always felt that lab grown diamonds are the ultimate ethical a...

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The Retailer’s Perspective: Will it be fine in 2009?

Man, if that's not the question of the day... or the century for that matter. With so much bad news being thrown at us every day it's hard to get a handle on things - until now. Oddly enough, in the middle of all of this craziness I made a startling discovery. I really had no idea how many recessions and economic downturns I've survived. All I can say is apparently I've had a hard life. Let me explain.
There have been 12 major recessions since 1940 and countless economic slowdowns. Only three have lasted more than a year; 1975, 1982, and today. As I look back on some of the significant moments in my life, I realized that times were hard back then too. The media is clamoring for sensationalism and everything has a statistic. So here are some stats of my own:

In 1984 I opened the trade shop I still own to this day. I just found out that the NASDAQ just had it's worst January since 1984. Huh? What was I thinking opening a business during the turmoil back then.

The auto industry just had it's worst year since 1985. That was the year I expanded my new trade shop. What was I thinking?

The unemployment report that just came out said that this was the worst jobs data since 1993. Damn. I bought my current store in 1993. Where was my head?

The DOW just suffered it's worst 12 month period since 1997. I did a major remodeling at my old store in 1997 and just finished remodeling my new one. Oops, missed that one too.

Now I just found out that ‘something or the other' hasn't been this bad since 2001. Huh? The last time I took a luxury vacation to Europe was in 2001. My bad.

In a nutshell, what I'm starting to realize is that it's never been easy to run your own business. It's just one challenge after another... after another... after another. Once this recession/depression cycle corrects itself, I'm going to have to deal with a whole new subset of problems. And then something after that. Me thinks it doesn't end.

Funny thing though, when I think back to when I was starting or expanding my business, I remember it being a struggle at the time, but it doesn't seem so bad now because NOW IS HARD! ‘Now' has always been hard.

Don't feel alone though, because no one alive has ever navigated through anything like this before. During the Great Depression there were no credit cards, no home equity loans, no sub-prime mortgages, and no FDIC to guarantee bank accounts. The FDIC is the very reason why we didn't have any runs on banks this time around which was one of the primary causes of the big one before. Many of the rules and regulations that are in place today were put in place to avoid another Great Depression. The one thing we didn't plan for - obsessive, uncontrolled greed on the financial system. We all know that's getting ready to change. When we all get on the other side of this event, we will have a much more stable system to operate within.

The one thing I'm noticing the most about this tough economic time is the fact I can't really plan anything farther in the future than 30-45 days because things are so crazy. I'm not making any plans for my 3rd and 4th quarter because nobody... and I mean nobody... can predict what the landscape will look like that far out.

There's an old saying that nothing happens until a sale is made. Once I make a sale, I order parts and supplies which in turn causes my suppliers to order more parts and supplies, etc. With the retailers at a literal standstill, the strain on the entire food chain is intense. So here‘s how I sum up this whole thing.

In 1990, during a short break from the jewelry business, I ran a film studio where our bookkeeper stole over a quarter of a million dollars from us. In all reality we should have shut it down, filed bankruptcy, and walked away. I was one of three managers at the studio and it just wasn't in any of our natures to do that. We worked our butts off for over a year to save the company (which is still in business today, thank you very much).

Out of that experience came a strange Friday afternoon ritual. Every Friday at the close of business, the three of us would meet in one of our offices and have a drink and a toast. The toast was always the same:

"Damn. We gotta come back to work on Monday!"

There was absolutely no chance to save the company and every day we thought would be our last, but somehow we managed to keep showing up every Monday. It was one of the hardest years of my life (yet another one mind you). Since then, every Friday, I raise the same toast to myself because since 1984 I've managed to keep my business alive and kicking.

Keep your head up and remember... it never gets any easier... ha ha. And, since today is Friday, I think I'm gonna do it early today:

"Damn... I gotta come back to work on Monday!"
Chuck is the owner of Anthony Jewelers in Nashville, TN. Chuck also owns CMK Co., a wholesale trade shop that specializes in custom jewelry and repair services to the jewelry industry nationwide. You can contact him at 615-354-6361, www.CMKcompany.com or send e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it..


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