Last updateWed, 11 Jan 2017 7pm

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Retailer Roundtable

Q: “Does your store issue an after-sales document for customers’ insurance needs?”

“At our stores when a sale is completed we ask the customer if they want a Retail Replacement Report (RRR), a term approved by our legal team as it’s not a certificate of sale or an appraisal. Here’s how it works. When a sale is completed and a customer wants an RRR, the sales associate writes “Mail RRR” on the hand-written receipt we still issue. One dedicated staff member then creates the customer document using a Microsoft Word template we created years ago. Each RRR has the store’s letterhead, the day’s spot metal prices, and a detailed description of each piece of the jewelry, from the precious metal to the gemstones set into it including carat weights and settings. A photo of each piece is also part of each RRR. Customers appreciate receiving these documents as insurance companies are being more proactive these days in reminding their customers to routinely submit updated appraisals. The customer must still submit the document to their own insurance company and we try to strongly urge them to do this. Although we go that extra mile taking care of jewelry after the purchase, scheduling the piece on the customer’s policy benefits everyone.”

Discovery Of Opal On Mars Hints At Existence Of Alien Life

nakhla meteoriteOpals discovered on Mars could suggest the planet may have once been home to life, researchers suggest. The precious stone, known as a fire opal for its distinctive red, orange and yellow coloration, was discovered in a Martian meteorite.

Nakhla, the meteorite in which the stone was discovered, is currently owned by the Natural History Museum, located in London. Millions of years before landing it landed, the rocked was blasted off the Red Planet by a powerful strike from an unknown object. The object is named after a town in Egypt where the stone fell in 1911.

CLICK HERE to read the full article.

10 Interesting Facts About Gold

Comparison gold v pyriteTo keep things light since it is vacation season, we decided to write something a little different for this week's blog.
Some interesting facts about our favorite precious metal.

Facts about GOLD :

1. Production: China is currently ranked #1 for gold output worldwide, Russia is #2.

2. Absolutely pure gold is so soft that it can be molded with your hands.

3. Gold is very rare when compared with diamonds

CLICK HERE to read the full article.

Stuller launches new features on Stuller.com

StullerDigital solutions engineer makes doing business even easier

(LAFAYETTE, La.) - In response to customer requests, Stuller has added a number of new features to its website, Stuller.com.

“Advancements in technology are helping shape the current state of the industry,” says Kevin Metz, chief marketing officer. “We serve over 40,000 jewelry professionals worldwide, so it’s important that we continue to make doing business with Stuller as easy as possible and that includes our website experience.”

While the manufacturer continuously makes updates to product imagery and details, several major new features have recently been implemented including:

Jewelers of America Seeks Participation in Cost of Doing Business Survey

Participating jewelers will receive a free customized benchmarking analysis report 

JA(NEW YORK) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has opened its annual Cost of Doing Business survey, at ww.profitplanninggroup.com/jewel and is asking retailers to take the survey by August 15. Retailers’ participation in the survey is essential as it informs the Jewelers of AmericaCost of Doing Business Report, an important industry report and benchmarking tool – the only one of its kind. Retailers who complete the survey receive a customized Performance Analysis Report and will be entered into a weekly drawing to win $500 in cash.

New online auction technologies benefit jewelers

New technologies have provided many new benefits to US jewelers, but have also created new challenges. In today’s marketplace, jewelers are working in a very competitive low-margin environment, where selection is vast and cash flow is critical. Online jewelry and diamond auctions provide a new and exciting way for jewelers to buy and sell diamonds at the best possible prices using a no risk process.

While auctions have been a known and successful outlet for quite a while, whether its local auction houses or web based like eBay, using new technologies allows for industry dedicated platforms to provide jewelers with much greater benefits.

Man Finds Lost Wedding Ring 15 Years Later While Planting 'Lucky' Bamboo

lostringForget having a green thumb while working in the yard — this man’s ecstatic to have a golden finger.

While planting bamboo in his backyard, Maan Moughawech, of Bloomfield, New Jersey, stumbled upon something he thought was lost forever — his 22-karat gold wedding ring from 15 years ago.

“Yesterday, I decided I wanted to plant bamboo in the corner of the backyard. While digging a hole to plant it, I saw something yellow and shiny in the dirt,” Moughawech told ABC News of his unexpected discovery. “I kneeled down to inspect it, and I instantly knew that it was my lost ring!”

CLICK HERE to read the full story.

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