05282015Thu
Last updateWed, 27 May 2015 2pm
24 Karat Club SEUS adds 4 new members

24 Karat Club SEUS adds 4 new members

The 24 Karat Club Southeastern United States annou...

Jewelry Pie reacts to increased demand for high-end product

Jewelry Pie reacts to increased demand for high-end product

“In the last year Jewelry Pie has seen a large inc...

Goldstein introduces new diamond & ruby ring

Goldstein introduces new diamond & ruby ring

Goldstein Diamonds, an industry leader in GIA cert...

Endless enters 21st market in 20 months, securing New Zealand retail partners

Endless enters 21st market in 20 months, securing New Zealand retail partners

Endless Jewelry has announced they  have secured m...

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IGI introduces virtual 3-dimensional diamond viewing

IGI introduces virtual 3-dimensional diamond viewing

Institute’s Diamond Reports to feature QR codes

(NEW YORK) - The International Gemological Institute (IGI), a world renowned independent gem certificati...

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Guertin Brothers to display Fabergé egg inspired Fender guitar at JCK Vegas

11 HOURS AGO
Guertin Brothers to display Fabergé egg inspired Fender guitar at JCK Vegas

Guertin Brothers has announced they will have a one of a kind Fender guitar in their booth at the JCK show. Also on display will be a replica of the Fabergé Egg, which was the inspiration for the guitar.

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Jewelers of America adds new GEM Award for Watch Design category

11 HOURS AGO
Jewelers of America adds new GEM Award for Watch Design category

Submission period opens for 2016 Award nominees

(NEW YORK) - Jewelers of America (JA), the national association for businesses serving the fine jewelry marketplace, has announced the addition of a GEM Award for Watch Design to the 14th Annual GEM Awards gala taking place on January 8, 2016, at Ciprian...

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GIA’s goes “All In” for JCK Las Vegas

8 DAYS AGO
GIA’s goes “All In” for JCK Las Vegas

Exclusive in-booth briefings, museum displays, colored stone services and more

(CARLSBAD, Calif.) – Attendees of the 2015 JCK Las Vegas show at the Mandalay Bay Resort & Casino can visit GIA’s booth (L99) from May 29 – June 1 to learn about the Institute’s not-to-miss show offerings, ranging from th...

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Texas Jewelers Association announces 2015 Convention dates, plans for JCK Vegas Meet & Greet

27 DAYS AGO

San Antonio will again be the host location for the 2015 Texas Jewelers Association (TJA) Convention.  The event will take place from October 10 - 12 at the El Tropicano Hotel, located directly on the Riverwalk.

The Convention will kick off Saturday evening with a President’s Party, hosted by TJA Pre...

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Reed Exhibitions acquires Jewelers International Showcase

11 HOURS AGO

(NORWALK, Conn.) -  Reed Exhibitions has announced it will expand its jewelry event portfolio with the acquisition of Jewelers International Showcase (JIS). JIS has three annual business-to-business events for the jewelry industry at the Miami Beach Convention Center. Thousands of retailers attend th...

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Rio Grande announces winners of 15th annual Saul Bell Design Award

11 HOURS AGO
Rio Grande announces winners of 15th annual Saul Bell Design Award

At a celebration dinner held during the Santa Fe Symposium® in Albuquerque, NM, Rio Grande announced the winners of the 15th annual Saul Bell Design Award competition. Through rigorous judging, a panel of judges chose first- and second-place winners in each of six competitive categories, as well as ...

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IGI introduces virtual 3-dimensional diamond viewing

11 HOURS AGO
IGI introduces virtual 3-dimensional diamond viewing

Institute’s Diamond Reports to feature QR codes

(NEW YORK) - The International Gemological Institute (IGI), a world renowned independent gem certification and appraisal institute, has announced its long-standing diamond grading reports will now include QR (quick response) codes, which will allow for f...

Readmore

Stuller, Inc. introduces new tools catalog

11 HOURS AGO
Stuller, Inc. introduces new tools catalog

Book highlights tried and tested tools and supplies

(LAFAYETTE, La.) – Solutions supplier and prime manufacturer, Stuller has announced the release of its newest tools catalog, Tools, Equipment, and Metals 2016-2017 . The 600+ page book features a variety of new products, bestsellers, exclusives, and St...

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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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