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jchi18

Rough_Rock
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Feb 4, 2003
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16
My wife and I wanted to sell a diamond. We originally were going to sell it to a dealer for less than wholesale. But then he also offered to sell the diamond on consignment. Can someone please educate me on the potential problems with selling on consignment? Has anyone had any consignment or other experience with Jim Shultz of James Allen?

Jim seems like a great guy but I just wanted to be sure. Thanks.
 

Lorelei

Super_Ideal_Rock
Premium
Joined
Apr 30, 2005
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42,064
Check out this thread about selling your jewellery.

https://www.pricescope.com/community/threads/reselling-gems-jewelry-what-can-you-expect.17952/

Jim is one of the good guys and you can do the consignment programme with confidence with him. I don''t know if anyone will chime in who has actually used this service, but plenty have bought from him and have high praise indeed for him. You can try a search on consignment and Jim himself which will give you some other opinions.

Hope this helps
 

jchi18

Rough_Rock
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Feb 4, 2003
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Thanks for the response. Jim really did sound like an upfront guy but you never know in this world. I am searching these forums and finding nothing but good things on Jim. So I am feeling much better.
 

starryeyed

Ideal_Rock
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Nov 6, 2006
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2,398
Hi jchi18! Glad you decided to put the ring on consignment, and with a reputable e-retailer. Hopefully this will give your diamond a lot of exposure. It''s really about finding the right buyer.

I recently purchased a diamond that was on consignment, but from a B&M. It was a win-win all around. The seller got more money than she would have selling it to a jeweler outright, I got a great deal, and the jeweler made money without ever having to pay for inventory.

Good luck and keep us posted!
 

jchi18

Rough_Rock
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Glad to hear that. I am becoming more assured with my decision to go with consignment.
 

Lorelei

Super_Ideal_Rock
Premium
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Thats great and I think consignment is a good plan. Best of luck with it!
 

jchi18

Rough_Rock
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Feb 4, 2003
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16
What are people''s thoughts on signing a consignment agreement? Is this something I definitely need?
 

starryeyed

Ideal_Rock
Joined
Nov 6, 2006
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2,398
Ummm, as opposed to sending a ring off to a retailer with no agreement about the terms of a sale??? A contract is key. You need to know who takes responsibility for the ring, how much commission the retailer gets, who is responsible for any tax, etc. The terms need to be crystal clear in order to ensure a smooth transaction.
 

denverappraiser

Ideal_Rock
Trade
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Jul 21, 2004
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8,746

For most people, consignment produces a better sales amount. The downsids are that you don’t get your money right away and that you then have a relationship with the company that you are consigning to. You have to care whether they pay their bills, whether they are correctly marketing your stone, even whether they are still in business. If you’ve got a company, whether they call themselves a wholesaler, retailer or something else entirely that will work with you to sell your stone, that charges a reasonable fee and that has a sales strategy that actually results in a sale, everybody wins. I absolutely agree with the above advice that the contract is important but the real key is in the character of the people you are going into business with.



Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

Regular Guy

Ideal_Rock
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Jul 6, 2004
Messages
5,951
Looks like Denver Appraiser''s getting ready for the webcam at least!
 

strmrdr

Super_Ideal_Rock
Joined
Nov 1, 2003
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23,295
Date: 1/18/2007 12:43:37 AM
Author: denverappraiser

Date: 1/17/2007 9:51:28 PM
Author: Regular Guy
Looks like Denver Appraiser''s getting ready for the webcam at least!
Yup. What should I talk about?

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
We on the other side of a camera are a customer in your office for an appraisal having an appraisal done walk us thru it :}
Then discuss market value and a about how you determine the right appraised value.
 

Regular Guy

Ideal_Rock
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denverappraiser

Ideal_Rock
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Joined
Jul 21, 2004
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That may be a tad difficult but I’ll see what I can think up. My appraisal sessions tend to be very interactive with the client and each goes a little differently depending on the client’s requirements. In particular, providing a shopping procedure is a touchy topic for several reasons. First, you all do just fine without me in that area. There’s a standard PS shopping approach that works pretty well for almost everyone who comes here and sticks around for even a little while. You don’t need lessons from me and giving them would be overlaying my agenda over yours. I take the whole conflict of interest thing very seriously because I think that it undermines the value of the whole appraisal process if I end up telling people how and/or where I think they should shop.


The PS shopping pattern looks something like this.


Find PS through Google or some similar stroke of luck.
Lurk for a while.
Read the tutorials and a smattering of the forum discussions that look interesting.
Talk to some b&m retailers in the neighborhood. Read the tutorials on a few dealers’ sites. Decide what you think is important.
Compromise on the weight/quality/price business.
Pick a stone or two out of the database.
Post a ‘what do y’all think of this one?’ type question in the forum.
Repeat the above steps if you don’t like the answers.
Get frustrated at how much more difficult it is to find the ‘perfect’ ring than what was originally expected before you came here.
Order in the stone or finished ring.

For those who don’t want to read through that other post, the #18 that Ira comments on is from a list of questions I proposed to ask your appraiser. #18 is this:


#18. I’m paying XYZ for this stone along with the following attributes that I consider valuable. My criteria is ABC and my concerns are 123. If I continue to shop, am I reasonably likely to come closer to my requirements for a lower price?


Thoughtfully addressing that tends to be a Socratic type discussion of the client’s criteria and concerns more than a discussion of a particular diamond. People are really quite different and this is not really conducive to the one-to-many style of the webcam broadcasts.


Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

Regular Guy

Ideal_Rock
Joined
Jul 6, 2004
Messages
5,951
4 points/ideas...

1) First to JCH18, whose thread I''ve partly hijacked...I purchased my diamond from James Allen. This "stand up" guy business is a phraseology Jim encourages, I suppose. Regardless, I''ll back him. My wife values my diamond, I value her & the diamond, too...and all was & is copasetic.

2) The Continental. This is to you Denver. The approach describes I guess what guys have already been doing on camera lately. Do you remember the skit on SNL? The actor (Christopher Walken) is talking to the camera, who is standing in as another virtual person? So, that is the existing model for these shows. It''s been working, I guess.

3) Alternately, find a stooge. Get someone to walk into your office, and do a demo conversation. Maybe you could do it with the style that Jay Leno or Dave Letterman. Finding the person to do this with could be fun. Also, isn''t this more the model that Leonid HAD been using with his videos, prior to the new medium.

4) The diamond. Consider ordering in a diamond from someone we love to hate. Try Shenoa. Be safe and don''t tell us the source. Then, riff.

Just some ideas.
 
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