02 Aug A Message From Arthur Gordon, Owner of Jewelsmiths
We have all been through this at one time or another. You are getting ready to buy something and you’re just in the looking stage and you hear ads for stores that have what you are wanting. A lot of these advertisers claim to have the largest selection and offer the best pricing among other things to lure you into their stores.
My name is Arthur Gordon. I am a native Oklahoma City third generation jeweler. My Grandfather, the late Samuel , opened the first jewelry store in Oklahoma City in 1904. I am now the only Gordon left that owns and operates a full service jewelry store in Oklahoma City. I have managed to do this by treating customer’s right and providing quality and service at the right price. I have always been keen on jewelry designing and won state and national awards. I was also the first to write a book on jewelry repair that has been sold to jewelers worldwide. My store is a member of the prestigious American Gem Society that has been an advocate for customer’s rights and protection since 1934. I am also the only jeweler in the State that is a member of the World Federation of Diamond Bourses often referred to as the world famous “Diamond Club” that is the most integral part of the diamond trading industry outside of the powerhouse “ DeBeers”. To become a member of the “Diamond Club” you have to have impeccable business practices and undergo an extensive background check in order to even be considered for membership.
I would like to talk to you about what is fact and what is not. I graduated college with a business degree with an emphasis in Real Estate and Finance and what I am going to tell you is very simple. Big stores cost a lot of money to open their doors every single day. Who pays for this? The customers do. Big stores will claim they make it up on volume selling. In today’s world, volume selling in a single store or a chain of s jewelry stores is a thing of the past. Over stocked large inventory of jewelry in a store means one thing and one thing only.
What it means is that the jewelry sitting on display is like having a bank account that does not pay interest. Also you there are stores that carry every Brand of jewelry. Most folks do not realize this, but a store has to buy into a brand. This means that the stores have to buy a variety of the brands products whether they sell or not. In any given brand only there is what is called their top sellers. Top Sellers are generally only a small percentage of the entire brand’s production. In order for a store to keep a brand, they must buy buy, buy all the time from the brand whether they are selling it or not. This cost the Store a great deal money. What doesn’t sell sits in the cases. This means that the store ends up with a huge amount of money tied up that could be earning interest in an investment account. At the end of every single day this loss of income has to be paid for. Who pays for this? The customers do.
Some stores claim to sell diamonds and jewelry wholesale to the public. This is one of the biggest scams ever, as every store has to make a profit and if you shop around you will often find out that these stores use bait and switch selling and end up selling you something that could be bought for less elsewhere. At the end of the day what they try to convince you is that they are selling it to you at wholesale which ends up not being apples to apples but instead apples to oranges. When you discover this it’s too late as they will not refund your hard earned money.
Stores will sometimes claim that they are bringing a new concept of selling to a market and that they sell at the best prices and have the largest inventory sometimes upwards of 20 times or more than any other jewelry store has. Don’t drink the cool aide. More stuff and high overhead means only one thing. The customer pays more for it. Finance 101.
These are just some of the things you should be aware of before you buy into the hype when you are getting ready to spend your hard earned money on a purchase of jewelry.
Let me tell you what we do and why we do it.
I started working in the jewelry business when I was 7 years old and have been doing it all my life. Over the years I have seen jeweler stores, new and old respected ones go out of business and even into bankruptcy. The main thing I have learned is that in order to stay in business you have to keep it real. By keeping it real to me, means that you watch every single expense item and keep it to a minimum so you can provide your customers with the very best pricing while maintaining outstanding customer service. This is a balancing act that is easier said than done. I am proud to say that we have this in check and are proud of it.
By my maintaining an impeccable reputation and being involved in numerous intensive jewelry trade projects we have made thousands of connections in the Jewelry business within the US and worldwide. This enables us to have an incredible source of where to buy jewelry at the very best possible prices without being locked into to any one or any brands that want to tie up money that we prefer use to run lean and offer our customers lower pricing.
Our business model is in our opinion the perfect balance of having just enough jewelry and diamonds in our store to demonstrate to our customers what we do. No matter what a customer wants, more than likely we can get it for them at a better price than found elsewhere.
Online Jewelry sites tend not to own their inventory. Instead they take an order and drop ship it to their customers from their wholesalers that actually own it. We own inventory and hand select and inspect every single item before we buy it. Internet Companies buy what we and other stores like us do not want which is second tiered not as nice of a product as we want and demand for our customers Every week we have folks that come in with diamonds and jewelry they have bought on line that are unhappy for one reason of another. The problems stem from these companies over representing the quality of items that they are selling and when the customer sees exactly what they have and what they could have purchased for the same or even for less money from us they then understand that they were misled. We are very transparent in what we sell. We want our customers to understand why one diamond may cost more than another and what they are actually paying for. Two diamonds can have the same color and clarity grade from either lab and be worth as much as 40 percent different in value. This is why we examine every diamond we sell and make sure that our customers are getting the right diamond for their hard earned money. Other stores will simply sell the lower value diamond as the more expensive one; this is why we make sure our customers can compare apples to apples and not apples to oranges.
We focus on what’s best for our customers rather than what is best for us. Many sell diamonds that have non mainstream grading reports with them such as EGL or IGI International or . We sell Diamonds with GIA (Gemological Institute of America) and AGS (American Gemological Society) reports because they are the only Laboratories that the Diamond Industry considers as accurate in their grading.
Lots of stores offer custom jewelry and repairs. To be quite honest, most custom work we see is subpar. Parts of the rings and items are crooked, the pieces are not set properly, the stones have issues, or there are structural problems. We pride ourselves in offering high quality custom work that is designed and executed correctly. We do it right or not at all. If a customer asks us to do something that is below our high standards in order to meet a lower budget we will not do it. Most jewelers will simply take their money. Again, if it’s not done right we will not do it. Our reputation is held in high regard and means the world to us. We plan on keeping it that way. We offer cad cam services and have the most advanced equipment in our fully equipped studio to handle almost any task put presented to us.
Never judge a book by its cover.
Have you ever gone to a store and gotten the feeling that no one would wait on you, or the air felt so thick you could cut it with a knife. Maybe the person gave you the up and down as if you were in the wrong store because they thought you couldn’t afford what they had? At our store we treat all our customers the same. We offer Fair pricing to all and we do not discriminate. Over the years we have helped thousands of folks from all walks of life. This is what makes our job so interesting. We get to meet all kinds of interesting people that want to celebrate life, love and special moments. What’s important to us is that customers are treated fairly and we help them in choosing the right choice for their needs. We are the ultimate shopper for them. We listen carefully to their needs to find a direction in style, taste and budget, so we can narrow down the choices and help them make the perfect selection.
Next time you are in the market for diamonds and jewelry please come check us out and let us know what you are wanting. We can help and you will not be disappointed. Be sure and check out our 5 star reviews online.
Thank you ,
Arthur Gordon, Registered Jeweler American Gem Society, GIA Diamond Graduate and Owner
Copyright 2016 Arthur Gordon