Shane Decker

The One Used-Car Sales Trick You Should Never Use in Jewelry Sales

Don’t walk away. Try everything else first.

Published

9 years ago

March 17, 2015

Shane Decker Instore April 2015 Issue

HAVE YOU EVER USED the “used-car salesman” close? You know the one: The customer asks for a better price, and you say, “I’ll be right back; let me talk to my manager and see what we can do.” If you have, you’re responsible for killing your store’s profitability.

Think about it. When you run to a manager or an owner, the client thinks you’re going to help them out on the price. Now the client is expecting you to come back with a lower price. If you don’t, you’ve let them down, and chances are, you’ve killed the sale because the client’s expectation wasn’t met. On the other hand, if you do come back with a lower price, you not only make the store less profit, but the next time the client comes in, he’s going to expect you to come down on price again. He’ll say, “I’m a really good client; you can take more off than that.” So now to keep him, you have to slash the price every time.

On the other hand, if you don’t negotiate, it shows that your integrity — both as a salesperson and as a store — is in your price. It shows that you believe in the price, and that the jewelry is worth the price.

So, after you’ve worked to drive up the value of the item by using value-added statements throughout your presentation, when it comes time to say the price, look the client square in the eye. This shows the client that you believe in the price. And follow up the price with a close — don’t leave the sale open. Closing the sale right after you say the price tells the client that you think he can afford it and you think he should have it.

Now, suppose the client asks, “Is this your best price?” or “What is your cash price?” Adopt a poker face (don’t flinch) and with a smile, say, “Yes. The price is the same if it’s credit card, cash or check.” Then follow up with, “So how do you want to take care of this?”

Don’t walk away. Try everything else first. Clients think the more expensive an item is, the higher the markup and the more you can take off. Actually, just the opposite is true. Don’t show them you’re willing to sell it for less. Close it for the price that’s on the tag.

I’m not saying let the client walk if they want to negotiate a little, but learn the correct technique so you’re not walking away like a used-car salesman. Use your knowledge, professionalism and selling skills to maintain your store’s profitability.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”