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Last updateTue, 23 Aug 2016 8pm
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Industry Events

JIS to relocate to Ft. Lauderdale during Miami Beach Convention Center renovation

(NORWALK, Conn.) - Jewelers International Showcase (JIS) provides the jewelry industry with three impressive buying and selling opportunities each year at the Miami Beach Convention Center - JIS Miami January, JIS Miami April and JIS Miami October (Oc...

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On The Move

24 Karat Club SEUS inducts new members

24 Karat Club SEUS inducts new members

The 24 Karat Club Southeastern United States (24K Club SEUS) welcomed two new members at their Forty-Second Annual Banquet held at the Atlanta Country Club on August 6. The 24K Club Class of 2016 includes Stark Harbour, owner Southern Jewelry Insuran...

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What's New

HOLLIS BAHRINGER expands line of men’s designer jewelry

HOLLIS BAHRINGER expands line of men’s designer jewelry

(NORWALK, Conn.) - HOLLIS BAHRINGER, a leading manufacturer of contemporary metal men’s jewelry is proud to announce the release of six new collections to its assortment. Adding both natural white diamonds and black diamonds, this season’s additions b...

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Featured Articles

Retailer Roundtable: What are the biggest challenges facing today’s independent retail jeweler?

Retailer Roundtable: What are the biggest challenges facing today’s independent retail jeweler?

Q: What are the biggest challenges facing today’s independent retail jeweler?

“As an independent retail jeweler we are constantly facing many challenges ranging from competing big box stores, other independent jewelers, a declining consumer interest i...

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Latest News

Lockheed Martin Files Patent to 3D-Print Diamonds

6 DAYS AGO
Lockheed Martin Files Patent to 3D-Print Diamonds

Aerospace company Lockheed Martin filed a patent for making synthetic diamonds from 3D printing.

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Digging underway in search for “Nazi Gold Train”

6 DAYS AGO
Digging underway in search for “Nazi Gold Train”

WALBRZYCH, Poland — A group of explorers has begun digging in southwestern Poland in a quixotic search for a buried Nazi train said to be filled with stolen gold, gems and artworks — despite experts’ doubts that the train even exists.

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JIS to relocate to Ft. Lauderdale during Miami Beach Convention Center renovation

6 DAYS AGO

(NORWALK, Conn.) - Jewelers International Showcase (JIS) provides the jewelry industry with three impressive buying and selling opportunities each year at the Miami Beach Convention Center - JIS Miami January, JIS Miami April and JIS Miami October (October being the 2nd largest jewelry trade show in ...

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Retailers “ready to buy” at the Atlanta Jewelry Show

20 DAYS AGO
Retailers “ready to buy” at the Atlanta Jewelry Show

The doors of the Atlanta Jewelry Show opened to models draped with pearls, welcoming buyers to a bright show floor brimming with new products and collections from first-time and long-time vendors. Held from August 6 to 8 at the Cobb Galleria Centre, the show’s robust agenda of events included educat...

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24 Karat Club SEUS inducts new members

13 DAYS AGO
24 Karat Club SEUS inducts new members

The 24 Karat Club Southeastern United States (24K Club SEUS) welcomed two new members at their Forty-Second Annual Banquet held at the Atlanta Country Club on August 6. The 24K Club Class of 2016 includes Stark Harbour, owner Southern Jewelry Insurance and Michael Lebowitz, Director of Jewelry White...

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IDD named Leading Jewelers Guild “Vendor of the Year”

13 DAYS AGO
IDD named Leading Jewelers Guild “Vendor of the Year”

IDD Jewelry of New York, an industry leader in basic diamond jewelry and bridal programs, was recently honored as the “2016 Vendor of the Year” by the Leading Jewelers Guild. As voted by the members of the group, the award recognizes excellence in customer service and innovative product. Already the...

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HOLLIS BAHRINGER expands line of men’s designer jewelry

6 DAYS AGO
HOLLIS BAHRINGER expands line of men’s designer jewelry

(NORWALK, Conn.) - HOLLIS BAHRINGER, a leading manufacturer of contemporary metal men’s jewelry is proud to announce the release of six new collections to its assortment. Adding both natural white diamonds and black diamonds, this season’s additions bring an ultra premium selection to the already exc...

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ASHI introduces Lovebright Essentials

6 DAYS AGO
ASHI introduces Lovebright Essentials

Offers big look, great price on diamond basics

Studies have shown that basic styles account for as much as 50% of a jewelry store’s total sales. ​ASHI presents Lovebright Essentials, a new ​POS ​program focused on helping you showcase and sell more ​of these ​basic, fast turning, full margin styles​....

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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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