Sell Big Diamonds

This was told to me years ago by a fancy color dealer in Antwerp. It makes sense for many things, not just fancy colors……

Ask an overly high price for fancy colors! The high price will be the convincer to the customer that the color is as good as you say it is. Then they can discuss a fair price. But if you ask a low price to start, they will question the color.

Of course it must be understood that the fancy color diamond market is more of an art form then regular certed stones.

One of the more intersting stones I have sold was a GIA certified Fancy White. The stone looked like frozen milk. I had a letter from GIA saying it was the best example of its type they had ever seen.

Larry

Ok….now that I have your attention, the truth is that you can’t beat the internet, but you can competitively compete with the internet in your brick and mortar store.

The simple fact is that the internet is here to stay. You challenge is to provide the same features of the internet AND more.

Information, information, information. Give it away graciously and with a smile. Educate your customers, especially the new potential customers, on diamonds and jewelry and they’ll come back for more knowledge. The internet gives away as much information as you’re willing to read.
Be friendly and take an interest in a potential customer. When a young man comes into the store and says he is looking for an engagement ring, don’t just ask what he wants or has to spend. Congratulate him and ask him about his girlfriend or how he intends to pop the question or just something that helps you build a personal relationship with the customer. You want to become HIS jeweler.
This one’s hard but you have to do it. LOWER YOUR PROFIT MARGINS on diamonds. The simple fact is that companies are selling on the internet for very close money. The profit is not in the center stone anymore…..but adding a nice diamond semi-mount to complement the center diamond is where you can make a decent profit.
Learn how to close a sale. Closing a sale WITHOUT sounding like too much of a salesman is a skill. Learn that skill and you will convert the lookey-loos and tire kickers into satisfied customers. Remember, their going to buy a piece of jewelry somewhere……why not your store.
I know I make it sound easy and simple and its not. But in today business climate you need to take a new approach and re-sharpen those skills that you first used when you opened your store many years ago.

Stan

This weekend I saw the movie, The Fantastic Four, The Rise of the Silver Surfer. I enjoyed the movie. But that’s not why I’m writing.

In the movie the charactor played by Jessica Alba is engaged. She appears to be wearing about a 4ct Cushion shape in a micro-set mounting. It is displayed fairly prominently. So point it out to your customers that they can be just like a super hero.

Larry

Show large stones to everyone. Brag about the stones, be proud of them, make your customers want to own one and be just as proud as you are. Even if people don’t buy the stones they have seen, they will talk to others about the wonders they have seen in your store.

Show large stones to everyone. Brag about the stones, be proud of them, make your customers want to own one and be just as proud as you are. Even if people don’t buy the stones they have seen, they will talk to others about the wonders they have seen in your store.

JCK Show

Made a day trip from Los Angeles out to the JCK show in Las Vegas this past Saturday. I walked about 4 miles inside the convention center……….and what did I see…….ALL the same faces and merchandise as last year…and the year before that… and the year before that ! I thought the idea of a trade show was to showcase a company’s new line of products! You don’t go to the electronics show to see 15 inch black & white TV’s without remote controls! At the footwear convention you don’t see displays of “Stan Smith” tennis shoes.

Now of course I know that if a mfg has a ring that has been selling well for the last 20 years, he wants to keep offering an item that is still in demand, he’s not stupid. But there are well over 1000 booths at the JCK show and most of those booths seem to be displaying the same merchandise as their competitors. As far as loose diamond companies go, their product doesn’t change. A 3.01 GIA G VS-1 will always be a 3.01 GIA G VS-1. Unfortunately, diamonds are not a product.

With business being a little off these days, I guess I would just like to see something exciting and new to keep me going.

As for me, I went to the show to search for unique platinum coil necklaces by European mfg’s, found what I needed and was very happy.

Hey, maybe these trade shows are a good thing !!!!!!!

Stan

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