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Big Survey

$50,000 Is a Critically Important Number for Many Jewelers

Bad things happen beyond that amount.

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WE RECENTLY TOLD YOU about the unexpected expenses that really hurt jewelers.

Building and equipment maintenance turned out to be the most common source of unanticipated financial pain. Still, many other events also put a surprise dent in jewelers’ pocketbooks, from robberies to diamond breakage. 

But did you ever wonder how much financial damage your peers in the business are prepared to withstand?

For Big Survey 2016, we asked, “How large in dollar terms would an unexpected expense have to be to put a serious strain on your business?”

The most common answer was $50,000, and there were also clusters at $10,000 and $100,000.

A few jewelers said they wouldn’t be able to sustain any amount. As one told us: “We have only been open 2.5 years. Every penny is a serious strain on our business.”

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$50,000 Is a Critically Important Number for Many Jewelers

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Ready to Relocate? Wilkerson Makes Your Move Seamless

When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time. "We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them. Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."

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