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BY NOW, YOU PROBABLY KNOW that Gene the Jeweler’s watch-battery replacement service is not exactly profitable.

You know what else isn’t profitable? His gold-buying operation.

It’s not really even a gold-buying service, per se. People bring in collections of jewelry that they have acquired from who-knows-where — inheritances, in some cases.

Gene and his staff sort through it and tell them what’s real gold and what’s not, and how much it might all be worth. (Not much, usually.)

In most cases, there’s not much payoff for Gene. The owner of the jeweler usually takes the jewelry and leaves, perhaps selling it elsewhere.

Gene hopes the people he helps will remember his store and perhaps come in and buy something — someday.

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He calls his gold-evaluation effort a “community service.” But to us, it sounds more like a time suck.

What do you think?

Jimmy DeGroot is a jewelry store manager who has been in the business for over 20 years. Now he spends his time training teams around the world at jewelrystoretraining.com and sharing marketing advice through his blog site at jewelrymarketingguy.com. Sign up for training videos here.

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Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

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