GOB Companys Whats the experts thoughts

[Iceman]

Well, this area has really been hit.

Two more 100 year old jewelry business are going out of business. In the past 5 years this area has gone from 43 companies selling Jewelry to about 20. Most blame me, but what ever.

What do the experts think about a hired Going out of business company to set up shop and sell their goods to help a store close out?

My only concern is the public will think that this high end jewelry store is getting rid of its merchandise and not knowing its this GOB junk company''s stuff. How can I educate the public about this.

The other store has started theirs and the people that get sucked into buying stuff that is not even close to half off and they are saying its 90% off.

Any help needed

 

[Rhino]

What you may want to consider doing Ice is taking out a local ad and in big bold letters write "70-90% OFF?!?! WE WILL NOT INSULT YOUR INTELLIGENCE!!!"

And explain how these bogus "sales" were never even offered at the "suggested retail" they have marked on the tag. The question is 90% off of WHAT?

Rhino

 

[Iceman]

Thats funny

Their stuff is suppose to be 70% off and at 50% profit the piece of jewelery we priced is still twice as much as cost!


How do these GOB company's they hire to close the store work? Who are these companys? Ive always heard about them but never felt I needed to educate the local public on what they are doing till now.

 

[Hest88]

Well in my mind, if this is the last gasp of a jewelry store, I'd just stay out of it unless a customer specifically asks you for advice. Let the store do what they have to in order to re-coup whatever they can, even if it's having a GOB company sell inferior goods. It's sad either way, but it would be worse to have it look like you need the business so much that you have to go out of your way to criticize them when they're already dying. Even if that's not your real intention it would still appear that way.

 

[Iceman]

True ~

These people kicked me when I was just starting, I thought I would return the favor

The other store has been bought and sold 3 times and they advertise as a 80 year
old family owned store. It was the store I got my feet wet in

Both stores tried to snuff me out when I first started.
I startled this small community with my low prices and upstairs operation. Which
back then was unheard of here in this town. It was a good old boys group that
stuck together on scams and pricing. They even went as far as to call all the
manufactures they could to shut me down

A lot of bad blood in this area. You mention my name at the jewelry counter and
they will take the piece of jewelry you are looking at in your hand , put it back in the
case and walk away! Or lose it on you. Or say "He does not have the overhead we
have!"

I survived with education and honesty, they didn't

Were they messed up is they depended on the local people to support them. I have expanded in other parts of the country.

 

[Iceman]

So ~ How do these GOB companies work ? Do the jewelers pay them to close their store out? Do they only sell their stuff and filter it in with the other stuff and what about at the end what does a jeweler get for whats left over? Pennies on the dollar?

Who knows how this works/

 

[Mikesgirl]

I've only seen GOB companies work with closing furniture and carpet stores, and anyone who's been shopping prior to the closing can see that they aren't getting, even at the 75% off price, more than 20% off the original retail price - essentially their "in business" sale price.

It's always been buyer beware, and at least with jewelry the harm done is only financial (not safety). If someone asks, tell the truth. Otherwise, let the fact that they are closing down be your revenge and satisfaction, and let bygones be bygones. Just my 2c.

 

[Iceman]

They had it on the news today about how many old time jewelers threw in the towel, they were all crying that the internet was the demise of the mom and pop stores and that is why they are all closing.

These were the stores that nobody on the staff had a lick of education and they demaned top dollar for their product and not a penny less , they all cheated the public. It was not the internet but just poor business skills. They all deserve to go to hell. They all made my life miserable and Im the last man standing

Education and honesty won out.