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Questions about working in the jewelry industry

asscher_girl

asscher_girl

Brilliant_Rock
Joined
Jun 29, 2006
Messages
1,155
Hi PS'ers,

I thought I'd post this in RT since most of the professionals check out this section.

I'm currently not in the industry but working on getting my G.G. (about half way done). I'm starting to consider leaving my current career to embark on this new industry and I'm curious as to what types of pay/benefits are out there. Now I don't think I want to do retail forever but wouldn't mind doing it for a year or two just to get some experience. I'd want to work at a high-end boutique, not a chain. There's a few here in the Bay Area that I'd be interested in.

Now I know sales is based on commission, but is there range of salary/commission that's pretty typical? Do they typically give base salaries + commission or is it usually straight commish?

I'd like to also look into appraising or possibly buying/ working with estate pieces. What's a typical salary for an appraiser?

I guess I'm just burnt out in my current field but am a little scared to jump ship. Any advice would be much appreciated.

Thanks so much!
 
I hate to say this, but I'm reminded of an old joke told to musicians- "Don't quit your day job"

Seriously- the industry is in a particularly tough stage right now.
A lot of stores have closed, meaning there's plenty of people with industry experience already out there looking.
To give you an idea, we recently placed a want ad on GIA's job placement website.
We had something like 30 responses within 48 hours- and many of the applicants have extensive trade experience.

Having said all that: there may be opportunity for you out there.
If you're entry level salary, it's going to be a lot easier for you to find a job.
If you're already a seasoned worker, making better than entry level pay in your current position, it's going to be a lot tougher.
Although GIA diplomas don't hurt, they may not have the effect you expect- because the knowledge any company needs you to have is more specific to their own business.


I don;t believe the picture is any rosier in the field of appraising.
Sorry to be the bearer of pessimistic news

I wish you luck in your search!
 
Thank you RD for your honest thoughts of the industry. I kind of figured I'd hear thoughts like that. Sounds like I'd probably be taking a significant pay cut to move into the industry which is something to consider. One thing that I think could help is that I live in the San Francisco Bay Area and things haven't been hurt as bad here as they have been in other parts of the country. I have seen postings online for positions but there's many more postings in SoCal (on GIA's career section) than there are up here. I think my next step is to do some informational interviews with a couple select companies around here to get a gauge as to what the market is like around here now.

Thanks again!
 
asscher_girl said:
Thank you RD for your honest thoughts of the industry. I kind of figured I'd hear thoughts like that. Sounds like I'd probably be taking a significant pay cut to move into the industry which is something to consider. One thing that I think could help is that I live in the San Francisco Bay Area and things haven't been hurt as bad here as they have been in other parts of the country. I have seen postings online for positions but there's many more postings in SoCal (on GIA's career section) than there are up here. I think my next step is to do some informational interviews with a couple select companies around here to get a gauge as to what the market is like around here now.

Thanks again!
Click to expand...
Hi,
I'm not in the industry, but have noticed jewelry stores going out of business here at two of the main malls I shop at. One was well known and IIRC is still in business in other parts of the country. There is one place that hires every holiday season and pays double WA state min. wage...I looked at that place's online site and they have some of the worst diamonds. The ones with 1 ct for $1K. lol
 
Hi MC,
Yeah I think one of ours at our local mall is closing too but they sell crap. The high end ones (not in malls) that are local are doing pretty good (I think). They have clients that are very long term and I think that helps, don't get me wrong though, I'm sure they aren't doing as good as they were a few years ago. I wouldn't want to work at Tiffany but they are hiring in our area.

Thanks for your input :)
 
The other trade member has it right......times are tough for everyone and there is an influx of people with GG's AND years of experience. The TYPE of experience is what matters to most owners at this point. The stores that are surviving are the ones that fill a niche.......custom design, repair, rare colored stones etc. They may value someone with bench experience or CAD design/combination of both than a GG. PLUS, many stores whoa re hiring want a salesperson. I mean no offense, but having a GG means nothing to a store if they need someone who can close a sale. I've met numerous gemologists who couldn't sell because they couldn't communicate their knowledge effectively and in a personable manner. The bottom line is that you'll have to start at an entry level salary, just like a college grad with a bachelors degree. Times are tight and many stores are looking for a person who can wear many hats. If you can afford it, take an entry level salary at a place that offers every aspect of the industry and learn everything you can. 3-5 yrs of that kind of experience will make your G.G much more valuable.

Best Regards, Matt
 
I think another way to approach this is to build a relationship with a small, local business and see if they would be willing to take you on part time (considering that you are working on earning your G.G and would like to gain sales experience). If you can be flexible with your schedule, perhaps take on a temporary Holiday position, this might be appealing to an employer. This is a good way to get your foot in the door.
 
OK, I *AM* in the industry, and have been for a long time in a variety of different positions so I think I can make some useful observations.

RE: Appraising as a profession.

No employer with any sense will hire someone to do appraisals without a ton of experience in the industry and even then it doesn’t pay very well. After you complete your appraisal credentials (a GIA GG is not an appraisal credential by the way although it is a prerequisite), expect to add 5-10 years of industry experience before you can find gainful employment as an appraiser. Employed appraisers make something like $12/hr to about $40k/year, which is one of the reasons that most of the best appraisers are self-employed. How well you do at self employment will depend on things like your sales skills, invested capital, chutzpah, and work ethics but there are several dozen in the country who are making a pretty good living at it (I’m one of those, as are several other regulars here). There are hundreds and perhaps thousands who are barely eeking by and are wondering what happened. It's not a trade for the faint of heart.

If you want to be in the trade, the bottom line is experience and connections, not a GG and, as David and Matt point out above, keep your day job while you accumulate these unless you just don’t need the money. Retail sales is certainly the traditional way to start and if you’re good at it, this is actually one of the places where you can make the most money as well. There are also entry opportunities in manufacturing, distribution, import/export, auction houses, pawn shops, labs, museums, and others. GIA routinely has a career fair for their graduates and it’s definitely a perk you should take advantage of since you’ve sprung for the cost of a GG. It *IS* fun, there *IS* opportunity in this business to make good money, and there *IS* a need for excited young people to join the ranks. That’s the good news. The bad news is that it’s nowhere near as easy as people tend to expect nor is it as easy as the GIA catalog makes it sound.
 
I think that the way to make the big bucks as an appraiser right now would be to talk one of the TV networks into having you be the STAR of a reality TV show. What do you say Neil, are you up for being a STAR? (I'd give it a try as a bench jeweler, but it's pretty boring and I always end the day with black polishing residue on my nose and forehead...hmmm maybe I could do a comedy?)

On more serious note, I would suggest getting a job in the antique/estate business before actually jumping ship. I would also suggest looking more towards the buying/selling end of it, since that's where the money is. I have a friend who has ZERO credentials, other than some time spent owning a jewelry shop. He's spent the last ten years running around the country buying old pieces and having me and a couple of other people rebuild and set stones into them. He's done alright, though he says it's getting tougher with a larger crowd competing for the available pieces now. His niche was in making contacts within banks and estate lawyers who would call him when things were coming up for sale. Find a niche and you've found a home.
 
Antiques roadshow is a big hit and Mr. Wahlburg is making good money at it. Most of his competitors aren't so lucky. TV is another gig that's a lot harder than people think it is.

The appraisers that they have on the roadshow, incidentally, are unpaid. They don't even get a ticket and a hotel room to fly off to the various cities and spend days picking through people's treasures. They pay for that themselves. The payoff is in the advertising for them and their employers that comes from being on the show. The same holds for the various experts that appear on shows like 'Pawn Stars'.

A few observations about your friend:
1) He's self employed.
2) He's building on a decade or more of hard work.
3) He's not billing himself as an 'appraiser, or even a jeweler for that matter' He's just using his time, his smarts, his nerve, his money, his experience and his connections to make a business. Funny, that seems to be what we're all doing. :)
 
Another tried and true method of getting into our industry is working your way up through the trenches.

Many of us with at least 25-30 years of experience started out gift wrapping packages as young teenagers working for our parents.
At least, that's how I started.

I would recommend starting out part time for a reputable and respected small independent jeweler who has employees
on staff who would be willing to share their knowledge and help you to be a shining star.

There is no better way to learn this interesting and diversified business than standing behind the counter. It's the real world and you can't learn this from any textbook. To be successful in this or any industry requires high energy, self-motivation, the ability to learn quickly and to accept criticism.

Regarding appraisers...some self-employed appraisers fail to make a decent living although they might be highly qualified gemologists.
A successful appraiser must have all the right pieces of the puzzle (successful in sales, qualified gemologist, strong marketing skills, ability to network within and outside of the industry, etc). But it's true...nothing happens until someone sells something. An appraiser must know how to "sell" his or her services.

Good luck and follow your passion..just don't quit your day job as David said. (I agree with David, Neil and others-their points are all well taken)
 
Gosh, thank you so much for everyone's replies. Sounds like I really shouldn't jump ship huh? I'm in sales (b2b) now doing really well, but my heart just isn't in that industry anymore.

I have thought about doing retail sales at small high end boutiques - part time, just to learn the business and get my toes wet. I wouldn't be able to do p/t while proceeding w/ my current career but there's a possibility of lessening my current role and do something part time in jewelry. That way if it's not for me, my feet aren't totally out of my current industry.

Valentines - I actually do know my fair share of CAD (design industry) - not sure if I'd want to go down that route, but maybe that would help?

Sphenequeen - i like the idea of holiday help, I'm hoping I will have the time next fall to look for something like that. I think that's a great way to get a taste of this industry

Hi Denver Appraiser, that's what I thought, there's no way someone would hire me w/ no appraising experience. But eek, $40K as an employed appraiser? wow that's not what I expected. Yeah I guess I'd have to be independant then but that's not something I could just start on a whim. I'd have to have a good amount of experience (maybe at a retailer for YEARS) and then go out on my own. Thank you so much for your thoughts and advice.

LOL Michael E, no tv for me! Thank you for your thoughts on where I should get started. I met a very sucessful estate lawyer a while back and that got me thinking about hooking up with a few of them for estate buy/sell or appraisals. Not sure if that's a good idea or not but thought it could be interesting.

Thank you MB. I agree w/ the behind the counter thought. Since deciding to go down this road and doing my GG, I knew I'd have to do retail sales for a period of time to really understand the industry and get some good background knowledge and learn to "speak" the language professionally. Right now it's all online and I want to get out there and use the knowledge I've gained and learn some more :)

Thank you again all of you, I'll let you know if I end up getting my feet wet :)
 
Part time to get your feet wet sounds like an excellent idea. I have a jewelry store in my area that was known for never doing sales - guess what - everything has been on sale in one form or another the past year. They've gone as far as giving away plat mens bands with purcahses of certain designer engagment rings including center stone. It's one tough market out there. I wish you the best of luck
 
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