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How will Trump’s election affect retail jewelers?

How will Trump’s election affect retail jewelers?

President-elect Donald Trump has been in the publi...

Retailer Roundtable: What is your outlook for the industry in 2017?

Retailer Roundtable: What is your outlook for the industry in 2017?

Q: What is your outlook for the industry in 2017?  

“...

Leading the state in estate jewelry

Leading the state in estate jewelry

Levy’s capitalizing on estate jewelry popularity

Es...

Greg Lynn discovers art in the midst of struggle

Greg Lynn discovers art in the midst of struggle

When Greg Lynn’s parents were transferred from Nor...

ASHI launches #LovebrightValentine Sweepstakes

ASHI launches #LovebrightValentine Sweepstakes

 

(NEW YORK) - After receiving a “fantastic response...

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Citizen Watch Company announces newly integrated company – Citizen Watch Company of America, Inc

Citizen Watch Company announces newly integrated company – Citizen Watch Company of America, Inc

(NEW YORK) - Citizen Watch Company, Ltd., parent of Bulova Corporation and Citizen Watch Company of America has completed the integration of the two companies into one organization, Citizen Watch Company of America, Inc. The company will do business i...

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Industry Events

GIA’s colorful lineup at Tucson 2017 Gem Shows

GIA’s colorful lineup at Tucson 2017 Gem Shows

Alumni party, colored stone services, unique exhibits, expert talks and more

(CARLSBAD, Calif.) - GIA’s not-to-miss activities and services will enrich the visitor experience at the 2017 Tucson Shows, including an out-of-this-world alumni event, show s...

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On The Move

JA announces 2017 GEM Awards winners

JA announces 2017 GEM Awards winners

Jim Rosenheim receives Lifetime Achievement and Grace Fuller, Kay® Jewelers, Lucia Silvestri for BVLGARI and Patek Philippe win

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, h...

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What's New

New and unique, Love Universe hits the market with broad appeal

New and unique, Love Universe hits the market with broad appeal

Voyager Brands’ new line targets customers from teens to grandmothers

(AUSTIN, Tex.) - Something new, different, random, abstract - that’s Voyager Brands’ new Love Universe collection of earrings, rings, pendants, small necklaces and bracelets. It’s fu...

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Featured Articles

Female wounded warrior finds passion, career and calling in jewelry

Female wounded warrior finds passion, career and calling in jewelry

There are many paths to finding the right career. Most are predictable, but sometimes the path becomes clear only through adversity. Richard Branson, whose net worth of $4.9 billion makes him nearly 10 times wealthier than Queen Elizabeth II, dropped...

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Latest News

Citizen Watch Company announces newly integrated company – Citizen Watch Company of America, Inc

5 DAYS AGO
Citizen Watch Company announces newly integrated company – Citizen Watch Company of America, Inc

(NEW YORK) - Citizen Watch Company, Ltd., parent of Bulova Corporation and Citizen Watch Company of America has completed the integration of the two companies into one organization, Citizen Watch Company of America, Inc. The company will do business in the Trade as Citizen Watch America.

Readmore

Jewelers of Louisiana opens application for funds to benefit jewelers impacted by Louisiana floods

5 DAYS AGO
Jewelers of Louisiana opens application for funds to benefit jewelers impacted by Louisiana floods

(NEW ORLEANS) - Over 100 people employed in the jewelry industry were impacted by the August floods in South Louisiana. Jewelers of Louisiana, a statewide organization representing over 1,500 employees, has established a fund to help anyone in the jewelry industry affected by the floods. Over $3,700 ...

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GIA’s colorful lineup at Tucson 2017 Gem Shows

5 DAYS AGO
GIA’s colorful lineup at Tucson 2017 Gem Shows

Alumni party, colored stone services, unique exhibits, expert talks and more

(CARLSBAD, Calif.) - GIA’s not-to-miss activities and services will enrich the visitor experience at the 2017 Tucson Shows, including an out-of-this-world alumni event, show service laboratory, fascinating exhibits, expert ta...

Readmore

Bangkok Gems & Jewelry Fair coming in February

19 DAYS AGO
Bangkok Gems & Jewelry Fair coming in February

The Department of International Trade Promotion (DITP), the Ministry of Commerce of the Royal Thai government has extended an invitation for U.S. jewelers to visit the upcoming 59th Bangkok Gems & Jewelry Fair 2017. The Fair will be held February 22-26, 2017 at the IMPACT Exhibition & Conven...

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JA announces 2017 GEM Awards winners

5 DAYS AGO
JA announces 2017 GEM Awards winners

Jim Rosenheim receives Lifetime Achievement and Grace Fuller, Kay® Jewelers, Lucia Silvestri for BVLGARI and Patek Philippe win

(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, held their 15th annual GEM Awards on Friday, Januar...

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Stuller commits to promoting health and wellness in Louisiana

11 DAYS AGO
Stuller commits to promoting health and wellness in Louisiana

Company designated as a top-level WellSpot

(LAFAYETTE, La.) - Stuller is proud to announce that they have been named a level one WellSpot by Well-Ahead Louisiana, an initiative started by the Louisiana Department of Health.

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New and unique, Love Universe hits the market with broad appeal

5 DAYS AGO
New and unique, Love Universe hits the market with broad appeal

Voyager Brands’ new line targets customers from teens to grandmothers

(AUSTIN, Tex.) - Something new, different, random, abstract - that’s Voyager Brands’ new Love Universe collection of earrings, rings, pendants, small necklaces and bracelets. It’s fun and enticing to women of all ages.

Retail prices ...

Readmore

MJSA launches Council of Custom Jewelers as part of new Custom Design program

11 DAYS AGO
MJSA launches Council of Custom Jewelers as part of new Custom Design program

MJSA, a trade association dedicated to professional excellence in jewelry making and design, has introduced the MJSA Council of Custom Jewelers as part of a wide-ranging program to advance the art and consumer appreciation of custom jewelry design.

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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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