Press Releases

White Pine Trading Expands Consumer Buy-Back Program

Published

6 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.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”