True Tales: Sticker Shock

Published

8 years ago

January 10, 2016

Sticker shock in jewelry stores

I once had a client who asked me to design an elegant custom ring. I had her sign the estimate, which also stated that the price could change if modifications were made and that I would outline those as we went along. Which I did, first when she decided she wanted more diamonds set on the shank, and then when she switched from 14K to platinum. When I presented her with her completed piece she was thrilled … until she looked at the new price. She was appalled that we had gone over the original amount. When I reminded her that I had told her about the increased costs she said she remembered that. When I asked who she thought was going to pay for those, she said: “Why you, of course. I just thought you were giving me a better deal!” — Mary Harding, mary l harding, G.G., Bellingham, WA

We once had a woman come in for the first time. She had 10 envelopes full of jewelry for repair. As she was showing me what the problem was she asked how much for the repair. When I told her the price, she told me she could get it done in New York for less money. After all the repair envelopes were filled out, I opened them, took her jewelry out and said to take them to New York. She said she was going to be my best customer. I told her I didn’t negotiate repair prices. She left the store and was gone for six months. She came back in, gave me the same repairs. And became my best customer. — Diana Smires, Diana Smires Jewelry, Columbus, NJ

This article originally appeared in the January 2016 edition of INSTORE.

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.”