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Last updateTue, 20 Jun 2017 6pm
Ellis Jewelers Tim Hiatt credits retail success to his genes

Ellis Jewelers Tim Hiatt credits retail success to his genes

They say you can escape your past but not your gen...

Masters of Marketing - A century of sparkling insight (Part 1)

Masters of Marketing - A century of sparkling insight (Part 1)

Schnack’s Fine Jewelry, Alexandria, LA     

There is ...

Georgia Jewelers Association announces scholarship winners

Georgia Jewelers Association announces scholarship winners

For the sixth year, Georgia Jewelers Association (...

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

De Beers sends mining ship to explore Namibian coast

De Beers sends mining ship to explore Namibian coast

The $157 million vessel can accommodate a crew of 80 and has a helicopter deck suitable for Sikorsky S61s.

De Beers, the world's No.1 diamond miner by value, unveiled last Thursday the world's largest diamond exploration vessel, which will search for ...

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Industry Events

Charles Stanley and Yancy Weinrich honored at Jewelers for Children Facets of Hope

Charles Stanley and Yancy Weinrich honored at Jewelers for Children Facets of Hope

(NEW YORK) - Jewelers for Children (JFC) held the 19th edition of the Facets of Hope event on June 7, in Las Vegas at the Mandalay Bay Resort and Casino. The charity announced that $2.2 million had been raised to support their charity partners in the ...

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On The Move

JA announces 2018 GEM Award for Lifetime Achievement recipient

JA announces 2018 GEM Award for Lifetime Achievement recipient

Sally Morrison of Gemfields to receive the prestigious award

(NEW YORK) - Jewelers of America (JA) and the GEM Awards Committee have announced that Sally Morrison, Director of Sales and Marketing, Americas, of Gemfields, will receive the GEM Award for ...

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What's New

Rembrandt Charms introduces Bridal Party Program

Rembrandt Charms introduces Bridal Party Program

(WILLIAMSVILLE, N.Y.) - Rembrandt Charms Bridal Party Expansion Program creates an omni-channel experience for the bridal shopper, and cultivates new and repeat business for the retail jeweler. The Program is a low-cost investment of $170 and can gene...

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Featured Articles

With more growth in the works, LaserStar celebrates 60 years of an evolving, dynamic business

With more growth in the works, LaserStar celebrates 60 years of an evolving, dynamic business

LaserStar Technologies is celebrating 60 years in business the perfect way: The leading manufacturer of jewelry laser systems is doubling the size of its facility in Orlando, FL, putting its Southern operations on par with its flagship facility in Pr...

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Latest News

De Beers sends mining ship to explore Namibian coast

3 DAYS AGO
De Beers sends mining ship to explore Namibian coast

The $157 million vessel can accommodate a crew of 80 and has a helicopter deck suitable for Sikorsky S61s.

De Beers, the world's No.1 diamond miner by value, unveiled last Thursday the world's largest diamond exploration vessel, which will search for the coveted stones on the seabed off the coast of ...

Readmore

Are American malls dead?

3 DAYS AGO
Are American malls dead?

With All the Bankruptcies and Closings, How Will the Mall Survive?

My first retail job in 1983 was at a RadioShack store in a small Indiana town. We had no POS system or any other technology to help us outside of the calculator we used to add up the numbers on the invoices. Our best-selling item was ...

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Charles Stanley and Yancy Weinrich honored at Jewelers for Children Facets of Hope

3 DAYS AGO
Charles Stanley and Yancy Weinrich honored at Jewelers for Children Facets of Hope

(NEW YORK) - Jewelers for Children (JFC) held the 19th edition of the Facets of Hope event on June 7, in Las Vegas at the Mandalay Bay Resort and Casino. The charity announced that $2.2 million had been raised to support their charity partners in the year ahead bringing the cumulative total since 199...

Readmore

Registration open for GIA’s New York Jewelry Career Fair

3 DAYS AGO
Registration open for GIA’s New York Jewelry Career Fair

Industry’s largest recruiting event returns to the Javits Center July 24

(NEW YORK) - Recruiters and aspiring job seekers can now register online for GIA’s Jewelry Career Fair to be held in New York on Monday, July 24. The leading gem and jewelry industry recruiting event will feature one-on-one caree...

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JA announces 2018 GEM Award for Lifetime Achievement recipient

9 DAYS AGO
JA announces 2018 GEM Award for Lifetime Achievement recipient

Sally Morrison of Gemfields to receive the prestigious award

(NEW YORK) - Jewelers of America (JA) and the GEM Awards Committee have announced that Sally Morrison, Director of Sales and Marketing, Americas, of Gemfields, will receive the GEM Award for Lifetime Achievement at the 16th annual GEM Awards...

Readmore

Georgia Jewelers Association announces scholarship winners

25 DAYS AGO
Georgia Jewelers Association announces scholarship winners

For the sixth year, Georgia Jewelers Association (GJA) has awarded scholarships to member stores and their employees. Scholarship chair, Jan Fergerson of Ford, Gittings and Kane in Rome, Georgia, announced the winners at the annual GJA Convention held at the Marriott Grand National Resort in Opelika...

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Rembrandt Charms introduces Bridal Party Program

9 DAYS AGO
Rembrandt Charms introduces Bridal Party Program

(WILLIAMSVILLE, N.Y.) - Rembrandt Charms Bridal Party Expansion Program creates an omni-channel experience for the bridal shopper, and cultivates new and repeat business for the retail jeweler. The Program is a low-cost investment of $170 and can generate over $1,500 in sales from one wedding party. ...

Readmore

Jayden Star celebrates 10-year anniversary with new product roll-out

23 DAYS AGO
Jayden Star celebrates 10-year anniversary with new product roll-out

(NEW YORK) - Celebrating with style, Jayden Star marks it’s 10-year anniversary with the biggest new product roll-out in company history during the JCK Las Vegas 2017 show. “With wholesale price points from $3 to $300, it’s hard to go wrong,” says Patrick Retzer, VP of Sales for Jayden Star. “All our...

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Furry Friends: Buffy the Shitzu

3 DAYS AGO
Furry Friends: Buffy the Shitzu

Buffy the shitzu recently celebrated her 10-year anniversary at Carl’s Fine Jewelry in Covington, LA. She’s quite stylish and the customers just love her.

Do you have a furry friend that helps out in your store? Tell us about it and send a picture to bill@southernjewelrynews.com.

 

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Selling wholesale may not be wholesome

It has become commonplace to buy in bulk here in America.  Wholesale clubs like Sam's Club and Costco are popping up all over the landscape and consumers are readily stuffing over-sized boxes of Cheerios and 5-gallon drums of mayonnaise into their massive buggies all in search of bargain prices.

 

Paying retail is simply passé.  Why would anyone agree to pay the MSRP when you can get more for less at a store that sells bulk volumes at bargain prices?  It's a craze that the jewelry industry is not immune to and it has many jewelers offering their wares at "wholesale" prices and customers looking for bigger, better, bargains on their baguettes.  And while it is understandable that retail jewelers would look for an edge to make their store and their prices more appealing to customers, most don't realize that selling "wholesale" is illegal in many states.

Suzan Flamm is an attorney with the Jewelers Vigilance Committee (JVC) in New York.  She served as a prosecutor in the Manhattan District Attorney's office and in private practice before joining JVC in January of this year.  Now she, along with JVC, serve to help the industry cope with the ever-evolving political and legal landscape on which it finds itself operating.

It can be terribly difficult for independent jewelers to stay abreast of the continually changing statutes that are passed into law.  JVC, a non-profit organization, has made it their purpose to stay up-to-date with new legislation and then pass on to their members what that legislation means for how they run their business each day.

 

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Suzan says that one of the places they see the most problems is with retail jewelers who advertise "wholesale" pricing on their merchandise.  She says that many jewelers who advertise "wholesale" pricing have no idea that what they are doing is illegal.

A brochure published by JVC for jewelry shoppers states: "Many states... have strict laws prohibiting the use of the word wholesale in retail advertisements.  In some states this is a criminal offense, due to the word's ability to mislead consumers.  If a jeweler advertises as selling at wholesale prices, they must sell at the wholesale price."

In short, JVC is trying to educate both jewelers and their customers to the legalities of selling to end-user customers.  And this is just one area in which JVC is trying to empower jewelers.  In addition to helping jewelers be compliant with new legislation and rulings, JVC can also serve as a mediator in disputes that arise within the industry.

Whether it is instruction on sales ethics, anti-money laundering compliance, mediation between feuding jewelers or educational materials for customers, JVC can provide tremendous support for independent jewelers.  The Jewelers Vigilance Committee can be reached at 212-997-2002 or found at www.jvclegal.org.

 


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