Back to The Cold, Burger King is Doing it Right
Posted on | January 17, 2009 | 1 Comment
Just got back from vacation to Florida. Great seeing all of my Florida friends, hanging on the beach, even got a little jam session in. Now I’m back and BAM! It’s freezing. When I left this morning for work it was 6 degrees. Florida for the winter sounds like a plan, but it’ll be a while before that happens.
Interesting article my young friend sent me about the infamous unfriending or as I was corrected, “defriending” fiasco on Facebook. Burger King is doing some great marketing involving social media.
Delete 10 Facebook friends, get a free Whopper
“Fast-food chain Burger King has created “Whopper Sacrifice” a Facebook app that will give you a coupon for a free hamburger if you delete 10 people from your friends list…”
Burger King also created an “angry gram” to your friends. Their CMO gets it! All of these big companies need to use web 2.0 like this. Wake up BIG COMPANIES! This is where it’s at and if you’re not on the bus, your competition is.
As far as business goes, the Holiday numbers are out and they’re not pretty. From Rappaport News:
Jewelry sales worse than expected. Zale (-20%) at $582 mil., Finlay (-24%) at $266 mil., and Signet -16%. Luxury retail sales in Dec. plummet with Neimans (-26%) at $532 mil., Nordstrom (-8%) at $1 bil., and Saks (-19%) at $363 mil. Big box stores discounted very heavily yet sales suffered fewer losses with Macy’s (-5%) at $4.6 bil., JCPenney (-7%) at $3 bil., and Kohl’s (+4%) at $2.8 bil
So what’s the answer? BUY, BUY, BUY!!
Oh yeah and listen to The Dead – they’re touring this spring with Warren Haynes, we’ll see how they sound – their 401K’s must be running out!
“Sure don’t know what I’m going for but I’m gonna go for it for sure.”
Tags: burger king > cold weather > facebook > facebook de-friending > facebook unfriending > florida > retail > retail outlook > whopper sacrifice
How was 2008 for the BIG retailers?
Posted on | January 6, 2009 | No Comments
Well, the fourth quarter numbers haven’t come out yet, but this Holiday season was a tough one for retail, especially jewelry and luxury. According to National Jeweler, “online sales of jewelry and watches didn’t fare well this holiday season (Nov. 1-Dec. 24), falling 24 percent compared with the same period last year, according to the latest research from Comscore.” And that’s just online jewelry sales. I heard 80% down from last year on total jewelry sales, but I’m not sure if that’s true.
November Sales from the Majors:
Neiman Marcus down 11.9% – 28% in October
Saks down 5.2%
Macy’s down 13.3%
Zales and Kay’s tanked also.
BLUE NILE down 3% in Q3 – doesn’t sound like a lot but this is a company who was experiencing double digit growth for years. We follow them very closely.
Stay tuned for the 4th quarter numbers to come out very soon – they won’t be pretty. As for Samuelson’s Diamonds, we did just fine because we’re buying right – and that’s the key in these down times. Use it as an opportunity to buy for cheap. Then when the market comes back, which it will eventually, we’ll be in good shape.
I was walking though the mall last week and saw some crazy stuff. Take a look at these retailers that are either closing up or marking stuff WAY DOWN after Christmas. Whitehall Jewelers is done – Zales, Kay, Shaw’s and others are all trying to get rid of excess inventory.
Whitehall closes all 373 stores
Shaw's clearing out
Blowout at Zales
Piercing Pagoda is Zales
Tags: blue nile > diamonds > fourth quarter > fourth quarter 2008 > Jewelry > kay's jewelers > Q4 results > retail > retail outlook > shaw's > zales
Larry David and Me
Posted on | January 3, 2009 | No Comments
My life mirrors Larry David’s experiences in Curb Your Enthusiasm in so many ways. From getting into an argument with the Chinese restaurant about the amount of shrimp put in a dish, to his other problems and misunderstandings, it’s really unbelievable. Recently, I experienced an incident where this scene comes to mind:
Oh well, what can you do but laugh about it.
Here’s another question. These days, everyone is into texting and emailing rather than calling. When is it appropraite to text or email, and when you do have to call? Is a condolence email ok? How about a get well text? I mean, you were thinking of them even if you don’t actually call. I guess it depends on the situation. I texted a friend “Sorry to hear about your dog” and they were appreciative. But then again, it was a dog. Comment and tell me what you think – call, email or text?
Tags: condolence call > curb your enthusiasm > diamonds > email > Jewelry > larry david > phone call > shrimp > text
Happy New Year!
Posted on | December 31, 2008 | 2 Comments
Happy New Year – this is what it’s all about – take a look at my little slugger:
Untitled from mbarnstein on Vimeo.
In The Wall Street Journal…And Some Great Spanish Food
Posted on | December 26, 2008 | 2 Comments
Well, the facebook unfriending or de-friending fiasco has almost come to a close. The Wall St Journal found my blog post and interviewed me about this issue. Wow – and I even got a sketch in there or a “hedcut” – although I don’t like the chins they put in there – oy vey. Click here for a link to the full article.
From WSJ:
Hedcut
“Ron Samuelson, 36, is still smarting after being unfriended a month ago. The chief executive of jewelry retailer Samuelson’s Diamonds Inc. in Baltimore, Md., tried to view the profile of one of his Facebook friends — only to find his access was limited because they weren’t friends anymore.
Insulted, Mr. Samuelson wondered if his supposed friend, also a jeweler, feared his profile would give away competitive information, or if he had done it by accident.
It wasn’t long before the missing friend resurfaced, this time requesting to join a private Facebook group Mr. Samuelson had created for jewelers to network with each other. Still hurt, Mr. Samuelson says he hesitated before approving his request, but ultimately “chose to take the high road.” He says he would never get in the habit of unfriending people himself. “Diplomatically, it’s probably not the right thing to do,” says Mr. Samuelson, who has 466 friends on Facebook.
Mr. Samuelson declined to name the fellow jeweler. “I don’t want to burn any bridges,” he says. “He may be a future business contact.”
Well I still did not call him out.
This year has been a great year for us in the media. Baltimore Magazine, Jewish Times, City Paper “Best of Baltimore”, and now the Wall St Journal – what’s next?
Take a look at my birthday dinner from Tio Pepe. Mmm lamb chops:
Tags: best of baltimore > diamonds > facebook > facebook de-friending > facebook unfriending > hedcut > Jewelry > spanish food > tio pepe restaurant > wall street journal
Gold and Platinum, Big Blue Diamond – Watch These Kids Play Phish
Posted on | December 12, 2008 | No Comments
It’s been a while since I posted, but that’s a good thing because we are busy selling (and buying) diamonds. Now is the time. We have a lot of items on sale, and we are making some great jewelry buys from customers coming in to our store, and from all over the country. We are also writing posts on our company blog about social media and other cool stuff so check it out.
Today, platinum closed at almost the same level as gold. For a while it was trading BELOW gold. Platinum has dropped 64% from a record in March, while gold has dropped 21%. Platinum closed $1.60 an ounce above gold in New York, the smallest spread since at least 1996. Actually, it is used more in cars than in jewelry, which is why it’s down so much.
“When platinum trades at the same value or lower than gold, it is screaming recession,” said Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois. “It’s another confirmation that we’re in a deflationary recession, where everything goes down. Who’s going to buy cars in a recession?”
Doesn’t hurt me, but it’s gotta hurt those “luxury” jewelry lines who charge an arm and a leg (even to the jeweler) for their stuff. For the consumer, it’s a good thing.
In the diamond world, check out this big blue diamond that Lawrence Graff just bought at the last Christie’s sale – diamonds are still strong.
The 35.56-carat blue Wittelsbach diamond, which sold for $24.3 million at Christie
Here is the article from National Jewelers Network:
“London: A 35.56-carat blue diamond broke through the financial gloom on Wednesday, setting a new world record price for a diamond sold at auction.
The deep grayish-blue gem, known as the Wittelsbach Diamond, sold for $24.3 million at Christie’s “Jewels: The London Sale,” topping the previous record of $16.5 million set by the sale of a 100-carat diamond in Geneva in 1995.
International jeweler Laurence Graff, of Graff Diamonds, snapped up the gem, outbidding Aleks Paul of Essex Global Trading, a professional of Russian origin based in New York.
The sale also sets a new world record price for any jewel sold at auction.
Francois Curiel, chairman of Christie’s Europe and auctioneer for the sale, said, “In the midst of these challenging times, we were thrilled to achieve a historic price for a historic diamond.”
Officially known as “Der Blaue Wittelsbacher,” the roots of this stone can be traced back to the 17th century.
In 1664, King Philip IV of Spain (1605-1665) included the diamond as part of the dowry of his daughter, Infanta Margarita Teresa (1651-1673), when she became engaged to Leopold I of Austria (1640-1705), a man who later became the Holy Roman Emperor.
The diamond subsequently became part of the Austrian and then the Bavarian crown jewels.
It has been part of a private collection since 1964; Wednesday marked its first offering to the international market in nearly 80 years.”
So buy diamonds! You will be ok, it’s the best investment out there. Contact me to invest in diamonds.
And check out these KIDS who play “You Enjoy Myself” by Phish. They are in MIDDLE SCHOOL – WOW!!
Tags: auction > blue diamond > Christie's > diamonds > gold > gold prices > Jewelry > maginficent jewels > phish > platinum > platinum prices > shopping > Wittelsbach Diamond > you enjoy myself
A Crazy Facebook Fan Page
Posted on | November 24, 2008 | 1 Comment
Well, the job of Facebook never ends. Here’s a good one. The jeweler that I talked about before who unfriended me has a son in his business. I created a group for jewelers and other people in the trade called the “Facebook Jewelers Network”. I get a request from this guy’s son to join. Well I let him in, but what should I do – ask him why his dad dissed? I’m gonna think about that one. Pretty cool though.
On another Facebook note, back in March I created a page called “Diamonds”. Plain and simple. Put up some pics and wanted to see what would happen. Long story short the page has grown to 90,000 fans. Click here and check it out. I have people from all over the world on this page. Now what to do with it is the big question…stay tuned.
In my next post, I’m hopefully going to post a video showing and talking about a BIG DIAMOND I just bought, but for now you’ll have to settle for a great version of “Stagger Lee” from July 4th, 1989 – Enjoy!
Tags: diamonds > facebook > facebook fan page > facebook group > grateful dead > Jewelry
Warren Haynes is Better with The Allman Brothers
Posted on | November 11, 2008 | 2 Comments
Warren Haynes in my opinion is one of the best out there. I wrote about him earlier and posted a video of him playing with Trey from Phish. So I was really stoked to see Warren Haynes with Gov’t Mule last week. I have been watching him with The Allman Brothers Band for a long time – especially when I was in college in Hotlanta. Saw Mule a while ago and thought that I liked him with the Allmans better, but I went anyway cause it’s been a while. Well, I have to say again, much better with the Allmans. Too much slow, dragged out stuff. He rips but this is the stuff I like to see – especially at The Beacon. Check out Warren trading licks with Derek Trucks:
Don’t get much better than that – I’m in NYC when they’re back (hopefully soon)…
Tags: allman brothers band > blues > derek trucks > diamonds > gregg allman > phish > warren haynes
Unfriended on Facebook – Compliment or Diss?
Posted on | October 29, 2008 | 9 Comments
So I friend requested a jeweler in the Midwest, has a big luxury store, Rolex, Cartier, the whole deal. He also likes music and is a third generation family business, like me. I said that in my request and an hour later he accepted. Then I look on my page the next day and I’m no longer friends with him. Of course the first reaction I had was, wtf? Then I thought about it. There are a few reasons that I can think of why he said yes and then no:
1) He thinks he’s too good for me. He’s got a big fancy store – I’m just a young punk.
2) He’s in his fifties, older and did it by accident.
3) He’s sees me as a threat – taking his customers away through the internet.
4) He didn’t like my facebook page – maybe the girls in bikinis offended him.
Well, I like to think it was #3. If so, he’s missing the boat. He could learn from me as I could from him. In the jewelry biz, a lot of guys are very secretive about their business. They don’t want to give away trade secrets, don’t want to share information, learn from their competition. In the digital world, it seems that everyone is willing to share ideas, through meetings, summits, trade shows, blogs, facebook, twitter, etc.
So what’s the next move? Should I ask him why he dissed me – or should I let his path cross mine one day and see what he has to say? Please comment and tell me what you would do…
Tags: Add new tag > cartier > diamonds > facebook > Jewelry > rolex > twitter > unfriended
The Big Diamonds Still Sell
Posted on | October 16, 2008 | No Comments
Check out what happened yesterday at Christie’s New York…
NEW YORK (AFP) — Two giant diamonds sold for more than six million dollars at auction Wednesday to a Middle Eastern buyer, bucking a wave of gloom that has taken the shine off luxury sales.
The Ponahalo diamonds, mined in South Africa and named after a tribal word meaning “vision,” sold at Christie’s in New York at the end of an auction overshadowed by massive losses on world stock markets.
The Ponahalo weighed 316 carats when discovered in its rough form in 2005. Two separate diamonds were cut, weighing 70.87 and 102.11 carats, about the size and shape of chocolates.
The first sold for 2.15 million dollars, including commission, and the second for a total of 4.11 million dollars after a bidding war that within seconds jacked up the cost by a million dollars.
Although the winning bid came in anonymously to a telephone operator in the packed auction room, the buyer was apparently so proud that he wanted to be revealed.
“The buyer of the diamond was Mr Amer Radwan of Dubai and he has asked us to relate to you that he purchased this diamond,” auctioneer Rahul Kadakia announced, prompting surprised laughter and a few gasps.
“Dubai, of course Dubai,” a tall, tanned and expensively dressed woman muttered knowingly.
The dramatic sale of the two stones came on a day of price collapses on world stock markets and growing fears of recession in the United States.
On Wall Street, a short bus ride from Christie’s in Manhattan, the Dow Jones Industrial Average slid 733.08 points, or 7.87 percent to 8,577.91.
This was the worst one-day point loss since last month’s record 777-point decline and the steepest percentage drop since 1987.
The diamond industry now fears a painful end to the year, typically the season when dealers and sellers earn most of their money through Christmas and other holiday spending.
“The now inevitable economic slowdown will impact the entire diamond pipeline,” the industry website idexonline.com said Wednesday.
One dealer attending the Christie’s auction said the market is “dead.”
“There’s no two ways about it. It’s totally different to three months ago,” he said, speaking on condition of anonymity.
The auction, which covered everything from Tiffany bracelets to gem-encrusted Montblanc fountain pens, grossed about 29.7 million dollars, Christie’s said.
This was short of the expected 35 million dollar haul.
A higher proportion than usual of items under the hammer failed to sell and several of the most glamorous pieces — such as a piece the catalogue described as a “sensational diamond necklace” — were withdrawn altogether.
But auctioneer Francois Curiel looked on the bright side.
“It’s huge if you think that in a few hours today nearly 30 million dollars worth of diamonds sold in what are hardly great market conditions,” he told AFP.
The Ponahalos, he said, might be a girl’s best friend — or an investor’s.
Gisele Bundchen’s jewels also did fairly well. Her yellow diamond ring which had a high estimate of $20,000 went for $30,000.
“Given the volatility of the markets lots of people are looking for portable assets. You can have a house, pictures, stocks, bonds, but with these you have six and a half million dollars you can just put in your pocket.”
Tags: auction > Christie's > diamonds > dubai > gisele bundchen > joe the plumber > Ponahalo diamonds
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