Jewel

Diamond Exchange Policy jeweler.

As I said earlier, the jewelers , the good, anyway - spend considerable time on communication and setting expectations. But an intriguing question that arises from time to time has returned. Why do some jewelers and diamond sources to provide customers with one, two or four week time windows to exchange or return the product when others will only give one or two days ... some will not allow exchanges or returns at all. Why a jeweler guarantees me that I bought something only a few percentage points above the wholesale refuse to give me the wholesale price for my diamond, now that I do not need? Anyone have this kind of questions? I just finished trying to clarify that linear as possible reasons for these different scenarios for a client. I hope he understands now, although I can see by the look on his face, he struggles to accept the logic when it is sitting on a diamond that has no use for after the break .

It's a simple question, really. The jewelry industry is like any other industry that deals with the making or dealing in a product. When the order is made by a company for an element (either diamond or finished product), this product is exchanged against cash. It was bought for $ x, and represents the debt until that it is exercised in a sale to cover the debt and make profits. In the past, jewelers were known for selling exorbitant markup. They buy for x, and sell for 100% more than x. Some sell for 300% or more. But the fact remains that the difference between the sale price and the debt is for the jewelry. Now depending margin potential, some might consider it worthwhile to offer customers a particular window of time to reconsider their purchase. Think about it. You buy a diamond from a manufacturer to say $ 5,000. You sell it for $ 10,000. A big selling point is your return policy of 30 days. For a 100% yield of $ 5,000, I think many companies would consider delaying the conversion of the sale for profit or more goods for 30 days. It's a scenario. Let's say you're not working on to 100%. Say you're closer to 15-20%. Now, the sale brought you back $ 1,000. Is the jeweler benefit of $ 1,000 will be ready to wait 30 days to exercise his money? What What if he works on 5-10%? You get the picture. It becomes less and less practical for jewelers marginally to return policies that fancy their customers. Now, imagine if the item that the jeweler was actually sold in the memo from a vendor! The only way the client will have an exchange rate policy is whether the jeweler received from its supplier. So when you see the return policy of 30 days, recognize that these policies are extended to you b / c they are offered at the jewelry. Keep in mind that when jewelers get these types of terms, they are not generally get low price of the dollar.

In assessing the jewelry you buy, keep in mind that components of the piece and what the components of "service" are of interest to you. Do not be fooled to think the return policy or exchange are free. They are not. You will be charged at one end, the other, or both for anything that delays a firm to exercise their advantage.

As a professional diamond I actually have specific clients for one reason or another really need a window of time to return or upgrade the art