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Leading the state in estate jewelry

Leading the state in estate jewelry

Levy’s capitalizing on estate jewelry popularity

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Police searching for man who stole $1.6 million bucket of gold

Police searching for man who stole $1.6 million bucket of gold

The New York City police are looking for a quick-thinking thief who stole an 86-pound bucket of gold flakes worth nearly $1.6 million off an armored truck in Manhattan.

The unidentified thief swiped the 5-gallon metal bucket off the back of the vehicl...

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Industry Events

JFC to honor Charles Stanley and Yancy Weinrich at Facets of Hope event

JFC to honor Charles Stanley and Yancy Weinrich at Facets of Hope event

Jewelers for Children (JFC) will hold their annual Facets of Hope on Wednesday, June 7, 2017 at the Mandalay Bay Resort Hotel Casino in Las Vegas, NV.  The day change is a result of the adjusted JCK Show schedule. Charles Stanley of Forevermark and Y...

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On The Move

Jewelers Mutual earns 30th consecutive A+ Superior rating from A.M. Best Company

(NEENAH, Wis.) - Jewelers Mutual Insurance Company has earned its 30th consecutive A+ Superior financial strength rating from A.M. Best Company, one of the world’s most respected insurance rating and information sources.

Founded in 1913, Jewelers Mutua...

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What's New

LaserStar Technologies introduces eStore for spare parts ordering

LaserStar Technologies is proud to announce the release of their newly redesigned online store. LaserStar’s eStore has been redesigned to make your user experience faster, easier and more efficient. Now you will be able to access the eStore and Owner...

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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

Police searching for man who stole $1.6 million bucket of gold

1 DAY AGO
Police searching for man who stole $1.6 million bucket of gold

The New York City police are looking for a quick-thinking thief who stole an 86-pound bucket of gold flakes worth nearly $1.6 million off an armored truck in Manhattan.

The unidentified thief swiped the 5-gallon metal bucket off the back of the vehicle on September 29 when a guard briefly went to the...

Readmore

National Jeweler publishes “State of the Majors”

1 DAY AGO

Report returns for the first time since 2012

(NEW YORK) - National Jeweler has released the “State of the Majors,” a report which analyzes the performance of the country’s largest jewelers and the state of jewelry retailing today. The release of this once-annual report marks the first time National Je...

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JFC to honor Charles Stanley and Yancy Weinrich at Facets of Hope event

2 DAYS AGO
JFC to honor Charles Stanley and Yancy Weinrich at Facets of Hope event

Jewelers for Children (JFC) will hold their annual Facets of Hope on Wednesday, June 7, 2017 at the Mandalay Bay Resort Hotel Casino in Las Vegas, NV.  The day change is a result of the adjusted JCK Show schedule. Charles Stanley of Forevermark and Yancy Weinrich of JCK Events, Luxury and JIS, have ...

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Stuller, Inc. announces 2017 Annual Bench Jeweler Workshop

22 DAYS AGO
Stuller, Inc. announces 2017 Annual Bench Jeweler Workshop

Battle of the Benches competition returns

(LAFAYETTE, La.) - Stuller’s annual Bench Jeweler Workshop featuring the 2nd annual Battle of the Benches competition will return to their global headquarters in Lafayette, Louisiana on March 24th - March 26th, 2017.

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Jewelers Mutual earns 30th consecutive A+ Superior rating from A.M. Best Company

1 DAY AGO

(NEENAH, Wis.) - Jewelers Mutual Insurance Company has earned its 30th consecutive A+ Superior financial strength rating from A.M. Best Company, one of the world’s most respected insurance rating and information sources.

Founded in 1913, Jewelers Mutual is the only insurer dedicated solely to serving ...

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Greg Gesswein promoted to President of Paul H. Gesswein and Co.

2 DAYS AGO
Greg Gesswein promoted to President of Paul H. Gesswein and Co.

Greg Gesswein has been promoted to president of Paul H. Gesswein and Co., Inc., a 102 year old Bridgeport based manufacturer and distributor of tools, equipment and supplies. Greg is the fourth generation of the Gesswein family to manage the business and replaces his father, Dwight W. Gesswein, who ...

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LaserStar Technologies introduces eStore for spare parts ordering

10 DAYS AGO

LaserStar Technologies is proud to announce the release of their newly redesigned online store. LaserStar’s eStore has been redesigned to make your user experience faster, easier and more efficient. Now you will be able to access the eStore and Owner’s Section with just one login. Ordering spare par...

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Thorsten Jewelry ventures into precious metals with a 14k line

16 DAYS AGO
Thorsten Jewelry ventures into precious metals with a 14k line

(LONG BEACH, Calif.) - Thorsten Jewelry is primarily known for using alternative metals such as tungsten carbide and cobalt chrome to create wedding bands for both men and women. However, they have recently ventured into the world of precious metals as well.

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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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