To make large stone sales and make more money, adjust your margin! Remember, ten percent of a $20,000 sale is more than thirty-five percent of a $5000 sale.
Big stones sales breed money! Once you get the ball rolling the sales will start coming quicker and quicker. The numbers can rise astronomically!
But not if you try to retire on one stone!
If, I suggest that you give the young couple a break on the price of the $800 ring, because you will make a long term customer. You will probably agree. If, I make the same suggestion on a $50,000 stone, I tend to get the reaction; “No, this is my chance to really make a score”.
You must remember two important things; First, you want to make a big stone customer for life. The upper echelon of jewelry buyers tend to buy often and for larger dollar amounts. Second, a small percentage profit on a big sale still equals large amounts of dollars in your pocket.
The wealthy did not get that way by being stupid. They are careful shoppers. They will know the fair price for the items they buy. They are also loyal. You land a millionaire and you may have him or her for life.