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What Would You Do with an Extra $20K? Here’s What the Brain Squad Says

Jewelers share their plans to spend a small windfall.




What Would You Do with an Extra $20K? Here’s What the Brain Squad Says

Diamond jewelry 75 percent, and special unique color jewelry 25 percent. Karin Volz, Kloiber Jewelers, Milwaukee, WI

  • Best investment of all would be about four stainless steel Submariner gents watches … right away. — Teddie Gause, Gause and Son Jewelers, Ocala, FL
  • Gorgeous colored gems for a few super pieces I’d make. Best investment ever. — Klaus Kutter, A Jour Inc, Bristol, RI
  • Ohhhhhhhh! One nice big diamond ring (complete). — Natasha Henderson, Saxon’s Fine Jewelers, Bend, OR
  • I’d consider adding in lab-grown diamonds. I’m not quite on the bandwagon yet. (Yes, I’m just dragging my feet … that’s the way I roll.) — Erika Godfrey, Hawthorne Jewelry. Kearney, NE
  • Jewelry items with low- to mid-range price points like Shy Creation produces. Gold and diamond layered necklaces and fun rings that the younger groups tend to purchase. — Scott Kelly, Jems Jewels & Gold, North Wales, PA
  • I would increase our diamond fashion and our loose diamond inventory. I love the feeling of having more options to show customers, and these are areas I always feel that we never have enough of! — Erica Lorenz, Michael & Sons, Reno, NV
  • Two statement diamond necklaces with half, and bread-and-butter engagement rings that retail under $1,999 with half. — Shahraz Kassam, Shamin Jewellers, Burnaby, BC
  • I would buy each of my staff something personal for them to wear and show off, and then have a display of items that can be ordered. — Kristin Cornwell, Cornwell Jewelers, Athens, OH
  • William Henry knives and jewelry. I think men’s jewelry is a category that will grow this year. — Rick Sanders, Sanders Jewelers, Gainesville, FL
  • Simple diamond rings. I just impulse bought a $10,000 1-carat OEC diamond and ruby ring and sold it in a week. It was estate. — Calla Gold, Calla Gold Jewelry, Santa Barbara, CA
  • We would purchase a few more large oval cut diamonds. Unfortunately, the $20,000 wouldn’t go too far in this category! — Shari Altman, B&E Jewelers & Gemologists, Southampton, PA
  • Dainty yellow gold and rose gold jewelry, unique rough-cut diamond jewelry, loose gemstones. — Cathy Miller, Caleesi Designs Jewelers, Austin, TX
  • Diamond anniversary rings: someone out there is always having an anniversary, they can go up against a lot of engagement rings, and with stackables being so hot, you can wear them with anything and anytime! — Paul Krueger, Krueger Jeweler, Fort Atkinson, WI
  • Investment in inventory would mean paying off bills for inventory. — Bob Goodman, Robert Goodman Jewelers, Zionsville, IN
  • I would spend half on something trendy that I wouldn’t normally carry. The other half would be for basics or save it for new displays, etc. — Sue Parker, Nyman Jewelers, Excanaba, MI
  • As an online seller who specializes in made to order moissanite engagement rings, I’d stock up on loose stones, elongated cushions, crushed ice ovals and the like. — Jen Hollywood, J Hollywood Designs, Chester Springs, PA
  • Chain, earrings, bracelets and necklaces in gold. With the lower labor factor involved and plenty of styles to choose from, they are always good sellers with not much risk. — Alex Weil, Martin’s Jewelry, Torrance, CA
  • The lab-grown diamond engagement rings and earrings set up in a separate display would fill the need to attract the younger clients. — Ed Menk, E. L. Menk Jewelers, Brainerd, MN
  • I would order materials to make some very cool designs, maybe enter some design competitions. — Mark Thomas Ruby, SunSpirit Designs, Loveland, CO
  • Loose diamonds 100 percent. Specifically 0.85-1.20 carat diamonds. All round! — Mark Snyder, Snyder Jewelers, Weymouth, MA

This article originally appeared in the October 2018 edition of INSTORE.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].



Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

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