07012015Wed
Last updateTue, 30 Jun 2015 12pm
Padgett elected President of NC Jewelers Association

Padgett elected President of NC Jewelers Association

The North Carolina Jewelers Association (NCJA) ann...

Schnack’s Fine Jewelry turns 150

Schnack’s Fine Jewelry turns 150

Not many jewelry retailers can say their store ope...

From Vicenza with Love: At Oro International, Italian family values shine

From Vicenza with Love: At Oro International, Italian family values shine

Fifty years ago, Qurino Ruzza, with 20 years as a ...

Mason-Kay Jade to make Atlanta Jewelry Show debut

Mason-Kay Jade to make Atlanta Jewelry Show debut

Mason-Kay Jade has been a leading fine jade jewelr...

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Ancient trade route shows gold's enduring power

Ancient trade route shows gold's enduring power

Researchers at the University of Southampton have found a prehistoric gold trade route between Ireland and southwest England. The route gives a glimps...

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Jewelers Mutual presents honors at National Sale Conference

Jewelers Mutual presents honors at National Sale Conference

(NEENAH, Wis.) - Jewelers Mutual Insurance Company recognized its top agencies and agents during the annual awards ceremony held at their National Sale...

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Ancient trade route shows gold's enduring power

1 DAY AGO
Ancient trade route shows gold's enduring power

Researchers at the University of Southampton have found a prehistoric gold trade route between Ireland and southwest England. The route gives a glimpse into how ancient cultures regarded gold.

A new study has shed more light on how the value of gold has endured – and changed – since ancient times.

Arc...

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Colorado woman finds 8.52 carat diamond in Arkansas state park

1 DAY AGO
Colorado woman finds 8.52 carat diamond in Arkansas state park

MURFREESBORO, Ark. –  An 8.52 carat diamond has been found by a Colorado woman at Arkansas' Crater of Diamonds State Park at Murfreesboro.

Park officials said Friday that the gem found by Bobbie Oskarson of Longmont, Colorado, is the fifth largest diamond found since the park was established in 1972....

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From Jewels to Tools: Ivan Levi to speak on enhancing business practices at RJO Show in August

1 DAY AGO
From Jewels to Tools: Ivan Levi to speak on enhancing business practices at RJO Show in August

(HIGHLAND PARK, Ill.) - The jewelry industry has seen changes in the way business is being done since the advent of the Internet, and especially since the economic downturn began in 2007. Ivan Levi’s quest to find answers to questions about these changes led him to discover how one specific, yet easy...

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Rings of Strength collects over $60,000 for JFC

1 DAY AGO
Rings of Strength collects over $60,000 for JFC

(NEW YORK) - Jewelers for Children (JFC) held the 3rd Annual Rings of Strength Tour on Thursday, May 28, at Mandalay Bay Resort Casino in Las Vegas, NV. More than 125 participants assembled at 5:30 a.m. to either walk or run 5K, or bike one of two courses, a leisurely 15K route or a challenging 50K r...

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Padgett elected President of NC Jewelers Association

1 DAY AGO
Padgett elected President of NC Jewelers Association

The North Carolina Jewelers Association (NCJA) announced that Brad Padgett, an independent jeweler and native of Jacksonville, North Carolina, is the new president of the statewide association. His two-year term of office as the organization’s president began May 16.

Padgett graduated with a B.S.B.A....

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Two Houston jewelers named Distinction Winners in Houston Better Business Bureau Awards for Excellence

1 DAY AGO
Two Houston jewelers named Distinction Winners in Houston Better Business Bureau Awards for Excellence

(HOUSTON, Tex.) - Houston Jewelry and Jewelry Judge Ben Gordon were among the businesses recognized at the annual Houston Better Business Bureau Awards of Excellence held in May. Both businesses were named Distinction Winners, a designation awarded to businesses that maintain a superior commitment to...

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In tune with the times? New Unisex Ring Collection keeps the beat

1 DAY AGO
In tune with the times? New Unisex Ring Collection keeps the beat

Designed by Elaine of Esprit Creations

New to SJTA and the Atlanta Jewelry Show, family business Esprit Creations has been successfully manufacturing and wholesaling fine sterling silver jewelry with genuine gemstones for over 2 decades. Standing apart from the ordinary, their wide selection of exclu...

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Mason-Kay Jade to make Atlanta Jewelry Show debut

1 DAY AGO
Mason-Kay Jade to make Atlanta Jewelry Show debut

Mason-Kay Jade has been a leading fine jade jewelry wholesaler/supplier/designer in the United States since 1976. The company specializes in all natural (type “A”) jadeite jade fine jewelry, designed in-house by their exclusive designer Kristina and MK design team. Mason-Kay Jade is excited to intro...

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Let’s talk shops duex

Earlier this year I wrote an article about the relationship between retail stores and trade shops. I got quite a bit of feedback from both sides of the equation and decided that right before Christmas would be a good time to revisit the topic.

As a retail store owner with a bench jeweler on premises (me), I know how fortunate I am. But, as the owner of a trade shop as well, I find that jewelry stores fit into two categories: 1.) I’ve never had a bench jeweler on premises and have always used trade shops. 2.) I’ve had a bench jeweler on premises for 30 years but once she retired I haven’t been able to find a replacement so I am forced to use a trade shop.

Let me tell you, there is a huge difference between a trade shop and an ‘on-premises shop’ that only does their own store’s work. If you have a jeweler on your premises, you make the decisions about how much non-revenue producing work you want your jeweler to do on each job. I talk to a lot of bench jewelers that tell me their store’s policy is every ring is to be ‘refinished as new’ after every repair. I think that’s a great policy, but...if you put ‘refinish as new’ on an envelope and send it to a trade shop you’re gonna get charged for the original repair and around $18 for the additional finish out.

If a store has never had a jeweler, then they don’t expect the trade shop to spend an extra 30 minutes on something they’re not paying for. An $8 sizing is just that, an $8 sizing with a quick thorough cleaning and polishing. Not an $8 sizing (6 minutes tops) plus 30 free, un-billed minutes to just touch up some other stuff while it’s in the shop. Stores that have never had a jeweler know that if they want any additional work done, all they have to do is write it on the ticket and it’ll get done... just with an added charge $$$.

Trade shop jewelers also have the burden of remembering what level of service each individual store wants and expects. Case in point: Fifteen years ago I had a Bailey Banks and Biddle account (before the corporate price list and contract era) that was one of the highest grossing stores in the chain. The manager and I had an agreement that if something needed to be done to a ring they sold, just do it and charge her for it. Don’t call her and discuss it. At the very same time I had an account where the owner would ask me the cost of a repair. If I said $9.00, he’d tell me to only do $6 worth of work and stop. (Little did he know I would stop after $5 worth of work and bill him $6 anyway... Hah!) But all trade shops have accounts on both ends of the spectrum that we’re juggling daily.

Now store owners and managers fall into two mindsets when it comes to the shop: 1.) You think of your shop as an asset to your business. 2.) You think of your shop as a liability that sucks away at your life, your livelihood, your profit, and your soul.

I work with both types, but mostly I work with the stores that think of the shop as a profit center and an asset. Because these stores are charging their customers triple key for the work, they usually have a pretty good idea how much their bill is going to be when they send the work out, because they priced it to the customer based on their cost. But, the #2 group is alive and well out there. This group doesn’t add a mark-up to their trade bill. They do it at-cost as a customer service and usually guess at the price. This group is always shocked and surprised every time they get their bill. Anyone that uses a trade shop knows those bills can add up in a hurry. Okay, that’s the retail stores. How about the trade shop jewelers?

Trade shop jewelers fall into any combination of these categories (usually changing several times over the course of a day): Busy, harried, rushed, pissed, irritated, hung over, weird, cranky, finicky, anti-social, extremely talented, extreme self control, extreme lack of self control, and downright friggin’ awesome. And that’s all before lunch.

Store owners and managers on the other hand are: Confident, always in control, smart, goal oriented, social, engaging, driven, team players, counselors, confidants and well dressed.

So now I ask you... how in the hell did we ever meet in the first place? We have nothing in common. We don’t like the same people. We don’t hang out at the same places. Hell, we don’t even like each other. What’s the attraction? Oh yeah... we need each other.

I write this for one reason. As the ‘in-store jeweler’ becomes harder to find (Joe Cassarino quit hogging those 6 bench jewelers for yourself up there in Rochester, NY), more and more stores are being forced to use trade shops. And, more often than not, that trade shop will be in another state. I’ve never met the bulk of my trade accounts face to face, but we manage to get the work done to everyone’s satisfaction somehow, so it does work.

If you have a trade shop in your area that picks up and delivers to your store, I want you to think about this. The number one complaint I hear from bench jewelers that do trade work is the rising cost of fuel that they have to absorb driving all the way to your store to pick up a sterling silver bracelet that needs one charm soldered on. Now if it’s for a birthday present this weekend and you really do need it, that’s one thing. If the customer was just in the area and dropped it off and said no hurry, then call your jeweler and tell him to not come by today. It used to just be a hit on your billable hours driving all over town doing deliveries. Now with $4 a gallon gas, all the trade shops out there are taking a beating. Throw an extra $20 in the plate for gas once in a while.

With Christmas right around the corner, I’ve posted on my website my article from last Christmas about my shop policy for Christmas orders and repairs. Please take a look. You’d be doing your shop, your jeweler, and yourself a favor by reading it and thinking about implementing those policies in your store over the Christmas season. You can read it at www.CMKCompany.com. Good luck... sell a bunch... and try to have fun in these crazy times.

Oh yeah, I was just kidding. We really do like you retail folks. We just can’t let the other bench jewelers know cause they’ll make fun of us.

Chuck is the owner of Anthony Jewelers in Nashville, TN. Chuck also owns CMK Co., a wholesale trade shop that specializes in custom jewelry and repair services to the jewelry industry nationwide. You can contact him at 615-354-6361, www.CMKcompany.com or send e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it..


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