Setting Expectations

I came across a recent situation where a service provider is (constantly) making a mistake that we used to do here at Samuelson’s all the time. It’s all about setting expectations. Here’s an example: Someone wants an engagement ring made. Back in the day, we would do everything we could to do it as fast […]

Diamond Market Report 2012 – Q4

I received an email from Martin Rapaport this year talking about the diamond and jewelry industry. I don’t always read his emails, but this one in particular hit home because it was not just about diamonds but about the business world in general. I’ve written about Mr. Rapaport before. He’s arguably the most powerful man […]

A Lesson in Sales

Several years ago, when we had the pawnshop, I learned a valuable sales lesson from my father. We had a great guitar, a Fender Stratocaster, for sale. An old customer who doesn’t play guitar picked it out and brought it to the counter to purchase it. I got bent out of shape about it. If […]

JCK Las Vegas Jewelry Show 2012

I usually give a rundown of my show experience in Las Vegas every June. Last year, we saw strong diamond prices and strong demand. This year, I felt like prices were a little softer in diamonds but not in other categories like luxury and watches. The show was pretty crowded and people seemed to be […]

Dealing in Recycled Diamonds

I was having an IM conversation with the editor of IDEX, one of the world’s leading diamond publications, and he said something that struck me. I mentioned how I was trying to buy as much as I can (from the public of course). His response, “the $1 billion mine”. So true. That’s what we do […]

Message To Retailers: Buy Diamonds For Stock!

In today’s economic climate, jewelry retailers need to find new ways to increase margins, while still competing with e-tailers and everyone else in their market. Buying gold has become a necessity for a lot of traditional retailers in order to keep cash flow positive. However, the gold buying train won’t last forever. Even the popular […]

Groupon From a Merchant’s Point of View

I made a vow that after my daily deals were over, I would write a blog post about my experience as a merchant (and a jeweler) on the deals that we ran at Samuelson’s Diamonds. You read a lot about customers taking advantage of good deals, but not enough about about merchants and whether they […]

When a Facebook Pic Goes Viral – The Power of Sharing

A little while ago, I wrote a post titled, “Stop Sharing!”. My friend who works at ShareThis was mad about that one, but I was talking about business practices, but not fun stuff like pics, videos and blog posts. Well today a pic went around of a clever Halloween costume. A guy in dressed as […]

Diamond Market Update: 2011, Q3

As the world economy dips into a recession, we’re looking at our holdings in diamonds and deciding how to navigate our through this market. The stock market has been getting crushed the past couple months and even metals are unstable. Gold reached a high of approx $1920 per ounce and is now hovering at $1650. […]

Stop Sharing!

Facebook, Twitter, blogs, real conversations (did we forget about them?) – it seems like it’s all about sharing information these days in the new business world. I have shared a lot of information in a lot of places. I share on Facebook and Twitter – articles, thoughts, pictures, and more. On this blog, I write […]

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