A Day at JB Jewelers
Its been quite the busy day here :) So, a little about my day to day operations.
I am not like most of your independent jewelers. I do repairs and custom design in platinum and gold. We also do full service on Rolex watches. We are a full service jeweler.
Where I am different, is I buy and do cash loans on fine jewelry, gold diamonds and high end watches (Rolex, Breitling, Panerai, Cartier, ect…) This very important if you are selling to me or buying from me. When you make a retail jewelry purchase, its just that RETAIL!!!! All they do is buy at wholesale and mark it up 400% and sell it to there customers. The question is, do they buy back jewelry from their customers or other clients. NO!!!! How could they? They just sold you a diamond that cost them 1500, sold it for 4500. If they were to repurchase it, they would have to pay 1500 or less because its now used. So they choose not to buy jewelry from the public because they would lose face with there clients. Stay away from stores like these (which is 90% of all the jewelers in business).
Now nobody can buy and sell for anything for the same price or they would be out of business quick. The trick is to find someone that sells for wholesale or less than cost like me. I have very little overhead, so I am able to work on smaller profit margins and still keep my doors open. I also buy a lot of pre-loved jewelry and watches from the public and can offer them for sale at a tremendous savings to my clients.
Its 6pm and I need to call it a day. More to come soon about selling me your jewelry and why I pay more for you treasures.