Press Releases

White Pine Trading Expands Consumer Buy-Back Program

Published

7 years ago

June 20, 2017

INSTORE Staff

It will be available nationwide.

(Press Release) NEW YORK – White Pine Trading LLC has announced the expansion of its Consumer Buy-Back Program.

Under this expansion, the program will now be available to retailers nationwide. In addition, the company has streamlined how retailers can purchase diamonds, jewelry and luxury watches from their customers, eliminating contracts and creating a simple online submission process.

Andrew Brown, president and CFO of White Pine, said, “Our improved Consumer Buy-Back Program now offers a simple, yet powerful way for jewelers across the country to provide an invaluable service to their customers, while generating new business (through store credit) and a sales commission for themselves. We are confident that this revamped program will help increase customer relationships for participating partners and make the program more accessible to retailers across the country.”

The program works as follows:

Retailers fill out a dedicated form at retailer.whitepinediamonds.com, providing their store’s contact information, the customer’s contact information and details on the item(s) being sold along with an insurance value.
Once the form is submitted, a free and fully insured FedEx shipping label will be automatically emailed so the item(s) can be sent to WP Diamonds’ headquarters for delivery the next day. Once at WP Diamonds’ headquarters, the item(s) will be assessed and valued.
WP Diamonds will then submit an offer to the retailer using real-time industry pricing. If the offer is accepted, WP Diamonds will send a check to the store. If the offer is declined , WP Diamonds returns the item to the store free of charge.
In exchange for the service, the retailer receives a commission of 10 percent of the purchase price.

As part of the program, White Pine will donate $20 to Jewelers for Children for every transaction made through the new program.

To encourage participation and kick off the national launch, White Pine will be running a Summer Send-In Competition. The retailer who earns the greatest value of purchased send-ins between July 1, 2017, and Aug. 31, 2017, will win a diamond and ruby by the yard necklace (with an estimated $1,000 value).

Retailers can participate in the program and find more information by visiting retailer.whitepinediamonds.com.

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.”