I Don’t Know What I Like?

This is the potential customer’s opening statement. To many high falutin salespeople in retail, this comment is right out of “Salesmanship 101,” an open canvas to start the negotiation at the high end of the spectrum and hopefully not have to work yourself lower. Remember, now they don’t know what they want or like, so why present the Subaru first when there is a $200,000 Porsche on the lot? 

I have a much different reaction; first of all, I never took the “Salesmanship 101” course. In fact, I don’t even consider myself a good salesperson. In a nutshell, I’m more of a tell me what it is you desire, and I produce or locate exactly what you want in the best possible quality for the exact amount of money you want to spend and I make a fair profit. (Spoiler alert… Yes, jewelers make a profit on the jewelry they sell). I’m more of a right-to-the-point kind of guy - I have a habit of cutting to the chase. To me, this is the simplest sales approach. Besides, I don’t have all day here, I got a ton of work that needs to get done in the back workshop. Today, when I hear “I have no idea what I like or want!” I mostly do a slow side shuffle to the workshop and leave the clueless and confused counter sales to my irreplaceable and patient female sales staff. 

Just recently, I was asked how my prices compared with the big block stores hawking huge discounts. It’s a simple matter of comparing apples to apples or to be more accurate… Carat’s to Karat’s.

Take a non-discounted, one carat total weight gold hoop earrings selling in a Mom and Pop brick and mortar biz for $3,295 compared to these 50% off one carat diamond stud earrings with a $6,800 price tag. (Don’t forget you get 50% off that price at the register!) See my point? That’s no deep discount - it’s all smoke and mirrors! The illusion of a deep discount! 

The educated and non-dupable jewelry buyers know there are several other factors to consider when buying diamond jewelry. There is no way to compare prices of poor-quality items to fine quality even though the uneducated beholder will say “They look the same!” 

First: What karat gold are the earrings? 10Kt. 14kt or 18kt. gold or even platinum? This severely affects the cost!

Second: What is the diamond quality? Are they even graded? Are they promotional grade, a gray or cloudy diamond with no brilliance whatsoever? (Promo are the lowest quality out there - at 90% off they are still no bargain!) Then are those diamond studs above average, white and bright or even superior quality? 

This is a big factor in price. All my diamonds show the grading and I have a certain standard of quality I won’t go below. I don’t carry a single promo diamond in the shop. Diamonds with the clarity and brilliance of rock salt are not my thing.

The big box stores have millions of dollars in inventory and hundreds of thousands to spend on advertising, annually hawking untruthful discounts or ridiculous sales claiming 40% to 70% off everything in the store. That tells me one thing - employees were very busy days before the sale jacking up original price tags 100% to offer such nonsensical discounts. 

It amazes me how many people are duped and fall for this phony sales promotion. Okay, a bit of reality now; gold and fine diamonds are currently at a worldwide all-time high. Someone, please explain to me how a jewelry retailer can offer 50% to 70 % off? Off what?

You may notice the owners of these stores, who only exist in business because of this dubious sales tactic, walk across marble floors covered with expensive Turkish rugs, illuminated by rare Murano glass chandeliers in their spacious showrooms wearing Armani suits then drive their Ferraris back and forth from work to their multimillion-dollar waterfront mansions. They did not achieve such wealth giving away their diamonds and jewelry utilizing 70% off sales. So, now you see the pattern - before each jewelry giving season or occasion they have yet another 50% off sale and fill their already bulging coffers once again.

Those of you who may think sour grapes or jealousy because of their success don’t know me that well. I have a conscience and I’m happy with where I am in life (and no, I don’t own a Ferrari!) and most importantly my reputation. I could not run a business that insults my customer's intelligence with fabricated sale prices. I depend on making folks happy who want to return every time they need a piece of jewelry in their lives. My business runs on repeat business. Some fancy shops will take you over the coals every time you shop there and could care less if you ever return because there is always another naïve person who will walk through the door they can take advantage of.

There are many jewelers, including myself, who rarely have a sale, and when I have a sale, it’s on my regular everyday tagged items. I personally do it once or twice a year to move merchandise that have had a one-year birthday in my showcases - I want to move them out the door at a true savings. It’s a win-win for the customer and the store. 

Here’s further proof of the phony slash sale promos. I have, and still do have, many folks come in to “appraise” the 50% to 70% off bargains they recently purchased. You should see their faces when it appraises for less or at roughly the price they paid at yet another huge sale of a lifetime. Even better, the same regular price it is in my showcase without being “on sale”! That is a real eye-opener to some folks!

Excellent quality jewelry at reasonable prices purchased from folks who love fine jewelry the same as you do. It has been my surefire way to stay in business and maintain my loyal clientele. I never had a need for smoke and mirrors or deceptive advertising. 

When confronting a customer who says, “I don’t know what I like!”  My answer is what you see is nice quality jewelry that is already priced reasonably and realistically. Now, let’s see what I have that you cannot live without today! If that does not please you can compare my prices with the stores that double the price and then offer you a 50 % discount. I assure you if you compare a carrot on a stick to my reality-priced carats, you will return.

“The pot of gold is at the end of the rainbow, not the beginning.”