Buying gold jewelry for your store can be a complicated business. It is important for you to do your research so that you can avoid the traps that await you as a wholesale gold jewelry buyer. It is to your advantage to take the time effort to know what your customers want and compare the different price points being offered.
Start by making a customer profile: what type of designs, styles and price points they prefer. It is wise to keep the current popular trends in mind when you are buying your inventory, this can help you to attract new customers as well as give your current customers new gold jewelry designs to consider. If you are new to the gold jewelry business, and do not have an established clientele, you can begin with a combination of classic and contemporary designs for broad market appeal. Selecting yellow, rose or white gold jewelry in 18kt, 14kt and 10kt grades will give you a range of sales opportunities.
In your pursuit, you will no doubt come across a gold jewelry vendor who uses the strategy of “wholesale to public”. This may sound tempting, but according to the Lanham Act, in the section that deals with federal trademark/unfair competition rules, those who make these types of claims by stating a false or misleading description of fact as to the origin of there goods can be held liable in a civil action.
In addition, gold jewelry vendors should be aware of the FTC Guideline that clearly states: “retailers should not advertise a retail price as a ‘wholesale’ price. In other words, they should not represent that they are selling at ‘factory’ prices when they are not selling at the prices paid by those purchasing directly from the manufacturer.”
Dealing with unethical vendors can also damage the reputation of your business, because you may sacrifice quality for a low price. But your customers rely on your judgments when making the selections that they eventually purchase and once a complaint of substandard goods from a dissatisfied customer is made, it can be very difficult to re-establish their trust.
By definition, a wholesaler is a person who deals directly with the manufacturer. This assures you of quality; you will be able to get the information and support your need because they are in constant contact with the gold jewelry source. A reputable gold jewelry wholesale business also has a reputation to protect and will work with you until you are satisfied. When your select your gold jewelry wisely from a reputable source, it is easier to set your price point reasonably. Using this practice can win over the most skeptical customers, even those who may feel that retail gold jewelry is overpriced.
Another point to remember is that your main competition for the gold jewelry customer can be found in abundance on the Internet. When a customer enters your store it offers you the opportunity to make their real-world buying experience unique, satisfying and rewarding in a way that the Internet cannot offer.
Archive for the ‘Gold jewelry’ Category
Gold Jewelry Wholesale Insider Secrets – Avoiding Pitfalls
Sunday, August 22nd, 2010Sell your gold jewelry and make money
Friday, August 6th, 2010If you’re strapped for cash, and worried about how you’re going to get by, I have exciting news for you! Gather up the gold jewelry you wore in the 80’s, or the necklace your ex gave you a few years ago, and sell it. It’s just sitting there collecting dust anyway, and you’ll be amazed at the amount of money you can earn by selling your gold jewelry. Think selling your gold jewelry is too complicated? Wrong! Simply go to this easy to use website called Dollars4Gold (http://en.dollars4gold.ca./). This site makes the process of selling your gold jewelry so simple. You don’t even have to pay the shipping to get your gold to them! Just follow the easy to follow instructions on the site, and wait for your check. Sell your gold jewelry and make money; that’s all there is to it! Dollars4Gold ( (http://en.dollars4gold.ca./) pays out top dollar for the gold jewelry you no longer use. The items you send in don’t even have to be in top condition; sell your gold jewelry AS IS, and you can still make money! The more gold you can send in, the more money you can make. If you look through your old jewelry boxes, and dressers, you’ll be surprised at the amount of old gold you’ll find laying around. SEND IT IN! Then, just sit back and wait for your check to be delivered. If, after you sell your gold jewelry, you aren’t satisfied with the amount you receive, that’s no problem. Dollars4Gold offers a satisfaction guarantee. If you aren’t satisfied, your items will be returned, and there is no further obligation. You virtually have NOTHING to loose for trying! Dollars4Gold provides quick service, and top dollar payment. Sell your gold jewelry today! You never know how much your old treasures are worth. You could be, quite literally, sitting on a gold mine.
Even the Cash-rich Cash-out of Their Old Gold Jewelry
Wednesday, July 21st, 2010Gold’s high price is enticing wealthy consumers to venture into new territory – selling the family gold jewels.
According to Michael H. Gusky, president of online gold buyer GoldFellow.com, today’s high gold price is tempting more affluent consumers to exchange out-dated jewelry for cash, instead of trading-up for more fashionable bling.
Though gold prices have dropped in recent weeks, they are still hovering in the $800’s per troy ounce.
“We’re only about $150 off gold’s highest price, but more than $500 up from the lowest gold price of the past six years,” says Gusky. “Even though gold prices are dropping, this is still the sweet spot in time to sell old gold jewelry.”
Gusky says even his affluent clients are sometimes surprised by the cash value of jewelry that’s been lying around in their drawers and safes.
“It never occurred to me to sell my old gold jewelry,” said Merle Lundy who, with her retired surgeon husband, owns homes in Jackson Hole, Wyoming and South Florida. “I nearly fell off my chair when they told me a couple of 80’s style earrings and chains I never wear anymore were worth $700.”
Lundy, who sold her old gold jewelry to Gusky’s company, acknowledged that she didn’t need the money to pay her bills – but would put it to good use.
“I’m making a wedding for my daughter – I can always find something to spend $700 on,” she said. “It really pays to clean out your drawers.”
GoldFellow staffers say some customers admit going through tough times but many, like Lundy, say they plan on using their cash for gold-selling windfalls for discretionary purchases like fine dining and gifts. One client claimed she purchased a horse for her daughter’s birthday present using the money she got in exchange for her gold jewelry and one-ounce gold coin.
According to Gusky, GoldFellow.com has been purchasing large quantities of gold coins like South African Krugerrands and US $20 Gold Pieces as well as high-karat gold jewelry from individuals across the country.
“These items are not typical of low income households,” he observed.
Gusky says his company is also seeing a trend in better educated consumers.
“Before they select a buyer for their gold, consumers are doing their homework, comparison shopping and asking questions,” he says, adding he fields many customer queries personally. “We try to provide consumers with an education so they can get the best value for their old gold.”
For consumers of all tax brackets Gusky maintains safety and security is paramount. He credits GoldFellow’s™ high-value customer appeal to features like free FedEx® packages insured up to $1,000 and the ability to insure packages up to $50,000. The company also boasts GoldView™, an exclusive Website feature where customers track their FedEx® packages from drop-off through delivery, view the value of their jewelry in advance, and have the opportunity to accept or decline their offer.
Michael Gusky is a 30-year gold jewelry industry veteran. The company he founded in1982 and grew into the largest manufacturer of gold jewelry in the U.S. was sold to Warren Buffett’s Berkshire Hathaway in 2007.