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JewelryStockBalancing.com – A New Way to Sell Your Old Inventory

Published

8 years ago

April 26, 2016

INSTORE Staff

Discounts available to Jewelers of America members.

Jewelers of America has introduced JewelryStockBalancing.com, a new online platform designed to help a network of approved retailers buy and sell aged inventory.

JewelryStockBalancing is a patented exchange process for retailers and consumers built on three integrated internet platforms, including: a buying platform, a selling platform and a searching platform to enable inquiries and notifications about a particular item. The buying and selling platforms allow retail jewelers to anonymously buy and sell their dated inventory among other subscribing retailers for seven days. After seven days, the same product is still available to the retailers and also becomes available for sale directly to the consumer at a different price point.

“In a recent survey of Jewelers of America members, we learned that 44 percent of respondents had more than $100,000 in aged inventory,” says JA President and CEO David J. Bonaparte. “The JewelryStockBalancing.com platform offers jewelers a solution to sell the aging inventory, eliminating carrying costs and increasing cash flow.”

Jewelers of America is offering a discount on JewelryStockBalancing to its members. To learn more about JewelryStockBalancing.com, visit www.jewelers.org.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”