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Last updateWed, 29 Jun 2016 10pm
Hale’s Jewelers looks back on 160 years of business

Hale’s Jewelers looks back on 160 years of business

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Drive-through jewelry store?

Drive-through jewelry store?

With no serious injuries and a great attitude, own...

Not all was lost in the fire

Not all was lost in the fire

Namano salvages jewelry (and memories) scorched in...

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The SJG Smart Business Report: Ideas to increase sales in slow summer months

The SJG Smart Business Report: Ideas to increase sales in slow summer months

Sponsored content from the Southern Jewelers Guild

“Christmas, children, is not a date. It is a state of mind.” ~ Mary Ellen Chase

People in the industry who know me know that I am a huge proponent of in-store events. Keeping your marketing calendar fr...

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Industry Events

JCK Las Vegas, LUXURY and JIS Exchange glistened during a sweltering week in the desert

JCK Las Vegas, LUXURY and JIS Exchange glistened during a sweltering week in the desert

(NORWALK, Conn.) - Going out with the heat, JCK Las Vegas concluded its 26th edition on Monday, June 6. The show welcomed the best of the best in the jewelry industry with over 2,400 exhibiting brands and manufacturers, as well as an abundant lineup o...

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On The Move

Gemologist-writer Diana Jarrett is Best-of-the-Best in Writers Competition

Gemologist-writer Diana Jarrett is Best-of-the-Best in Writers Competition

Southern/Mid-America Jewelry News columnist earns national acclaim – again

(NEW YORK) - Popular gem industry writer/author Diana Jarrett accepted an award from the American Federation of Mineralogical Societies for their Editors, Writers, Poets & I...

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What's New

JBT’s Red Book available in new easy to use format

JBT’s Red Book available in new easy to use format

As technology evolves so does the well-known traditional Jewelers Board of Trade Red Book. Initially the Red Book was just that - a printed reference book with a red cover. Next came the CD. Now JBT is pleased to announce that future copies of the qu...

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Featured Articles

Eager to grow, eager to please, Costar Imports realizing goal of going national

Eager to grow, eager to please, Costar Imports realizing goal of going national

With expansions to the San Francisco Bay Area and Thailand, Costar Imports has come a long way since Ram Kedia opened up shop in New Orleans back in 1988.

Costar began as a diamond wholesaler supplying independent retail jewelers in the Southeastern U...

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Latest News

The SJG Smart Business Report: Ideas to increase sales in slow summer months

1 DAY AGO
The SJG Smart Business Report: Ideas to increase sales in slow summer months

Sponsored content from the Southern Jewelers Guild

“Christmas, children, is not a date. It is a state of mind.” ~ Mary Ellen Chase

People in the industry who know me know that I am a huge proponent of in-store events. Keeping your marketing calendar fresh and full are among the first recommendations I...

Readmore

Why gold may hit $1,500 by year’s end—and it’s not just about Brexit

1 DAY AGO
Why gold may hit $1,500 by year’s end—and it’s not just about Brexit

Implications for currencies, central banks point to more gold rallies

Gold’s impressive rally Friday offered a taste of what may be in store for the precious metal, as some analysts say it’s just a matter of time before prices top $1,500 or even $1,900 an ounce.

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JCK Las Vegas, LUXURY and JIS Exchange glistened during a sweltering week in the desert

9 DAYS AGO
JCK Las Vegas, LUXURY and JIS Exchange glistened during a sweltering week in the desert

(NORWALK, Conn.) - Going out with the heat, JCK Las Vegas concluded its 26th edition on Monday, June 6. The show welcomed the best of the best in the jewelry industry with over 2,400 exhibiting brands and manufacturers, as well as an abundant lineup of industry networking opportunities and informativ...

Readmore

Jewelers for Children celebrates 18 years, honors Stuart Lee and Dennis Ulrich

16 DAYS AGO
Jewelers for Children celebrates 18 years, honors Stuart Lee and Dennis Ulrich

(NEW YORK) - On June 5, 2016, Jewelers for Children (JFC) held the 18th Annual Facets of Hope event in Las Vegas at the Mandalay Bay Resort and Casino. The charity announced that $3.1 million had been raised to support their charity partners in the year ahead and that since 1999 $51.4 million had bee...

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Gemologist-writer Diana Jarrett is Best-of-the-Best in Writers Competition

1 DAY AGO
Gemologist-writer Diana Jarrett is Best-of-the-Best in Writers Competition

Southern/Mid-America Jewelry News columnist earns national acclaim – again

(NEW YORK) - Popular gem industry writer/author Diana Jarrett accepted an award from the American Federation of Mineralogical Societies for their Editors, Writers, Poets & Illustrators competition, reports the New York Mine...

Readmore

Holojem wins first prize at JCK Think Tank

16 DAYS AGO
Holojem wins first prize at JCK Think Tank

Jewelers Mutual, Excelion Partners team up for 3D projection aimed at creating customized jewelry store experiences

(NEENAH, Wis.) - Holojem™, a Jewelers Mutual Insurance Company partnership with Excelion Partners, won first prize at JCK Las Vegas’ Think Tank on Sunday, June 5.

Think Tank, an event hel...

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JBT’s Red Book available in new easy to use format

1 DAY AGO
JBT’s Red Book available in new easy to use format

As technology evolves so does the well-known traditional Jewelers Board of Trade Red Book. Initially the Red Book was just that - a printed reference book with a red cover. Next came the CD. Now JBT is pleased to announce that future copies of the quarterly Red Book on CD will be distributed on a fl...

Readmore

Hoover & Strong introduces white label diamond auction services

9 DAYS AGO
Hoover & Strong introduces white label diamond auction services

Hoover & Strong has announced a new white label auction service called myAuction™. This is an innovative service offered to jewelry retailers nationwide, allowing them to offer their own online auction service where their customers can sell their jewelry items to industry qualified buyers. The s...

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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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