Overall it can be said for a jewelry store that wishes to open a successful “estate” jewelry department or departments that suppliers themselves in the jewelry and gemstones / diamonds trades may be their best resource and source of resources. Experiences of many retail stores and even internet estate jewelry outlets has shown that a reputable supplier or supplier themselves can provide those essential services that will help lay the foundation for your success in the estate jewelry fields.
First the supplier offers reliable information about the item or items purchased. You should expect gemological identification with appropriate disclosures, accurate information about metal content and experience based estimates of total carat weights. Other facts, such as the period or designer identification and information about provenance, also may be available. When you buy from other sources, you may have to do all this research yourself – that is if time is available?
Second in line, a reputable supplier, offers you a basis for understanding pricing and pricing levels and points. The pool of reputable suppliers best understands the market itself and makes offers to buy and sell which fall within a fairly close range and which reflect worldwide supply of and demand for specific types of estate jewelry. If you are at a point in your jewelry store, online diamond and gemstone operation or perhaps an eBay diamond or ring outlet, this relative consistency of pricing by reputable suppliers will teach you how to price your inventory, while providing essential reassurance and support to both yourself and inevitably to your customers and your reputation.
Thirdly, reputable estate suppliers can help you balance your inventory. They generally gather goods from many places and sources to meet the needs of many as well as a vast array of clients. This will save you a lot of time and effort as well as giving you access to a much broader range of merchandise that is available in your marketplace. In addition the supplier will usually do any restoration needed to make a piece salable as soon as it enters your inventory.
Lastly you may well find in your specific trade that individual suppliers that you encounter and deal with may well offer specific and even unique services that may well serve of benefit to you and your operations. You may only have to provide an emailed photo or sketch of the piece along with your detail and notes to afford yourself of the service. The actual physical item may not even have to be on hand for the supplier to avail themselves to you. In addition many estate jewelry suppliers may offer staff training support to help you launch your estate jewelry department, assistance with advertising as well as special shows. In addition financing or terms may be available to you as well – based of course on your past credit and purchase history, size and type of purchase and reputation. If you do experience a problem or concern with a piece or set of pieces or if it turns out that a piece is not what was presented to you, at least you will have some means of recourse – based of course that you are dealing with reputable as well as reliable suppliers.
On summary it can be said that in opening up an estate jewelry department and making the choice to deal with reputable jewelry and gemstone suppliers that the advantages are certainly reliable identification and pricing information, balanced inventory as well as providing any necessary restoration of any pieces acquired. In addition you may well be provided with training and education support and perhaps payment terms. Lastly you have a recourse of you do encounter any problems.