Mark's Blog

The Value of reselling Quality Jewelry on Consignment

January 11th, 2012

My wife and I were discussing the value and perceived value of reselling client’s jewelry on “Consignment”. Reselling our client’s quality jewelry has become a much bigger part of our gallery services. Many, many clients have come to us (and their friends) and asked us to either, purchase jewelry items from them or try and resell their items through our gallery. We have found over the years that assisting clients to resell their pieces not only provides them with a valuable service and needed income, but also allows us access to jewelry pieces that we would not normally showcase. Another benefit to us is that we do not have to buy these items and hope they sell. If they do not sell, we can return them to their owners and not have to readjust our inventory. Many people can be confused by the nomenclature “Consignment”. These are not “Estate” items as they have not come to us through the estate litigation process (as so many jewelers wish to label their consignment items), but directly from the living owners of the jewelry. When given to us on Consignment, the items are valued and a “Net” price is arranged which will be the settlement amount to the Consignor. We then add our

One-of-a-kind Mark Loren jewelry design

10%-35% commission over the net price to become the retail selling price of the item in our showcase. If any difference in selling price is considered then the owner is contacted first and circumstances are disclosed with the owner having the final say. We represent the jewelry for the owner (insurance, security, repair, honest information…) and we are upfront with the buyer on the origin of the jewelry item (while still maintaining owner confidentiality). Surprisingly, many jewelry stores do not offer some form of consignment which helps build a valuable and lasting relationship between Jeweler and client. Many of the items that we have sold on consignment, we had originally designed or sold to the client many years ago. Why wouldn’t we want to assist a valued customer in realizing the value of their fine jewelry? Isn’t that one of the reasons people return to buy again?

Peace of Mind for a Loved One’s Jewelry

December 19th, 2011

We have been performing a more common service for our clients that we don’t list on our website and don’t promote but, is important for clients to know. When you have a loved one who will be living in a partial or full care facility, you should give consideration to the security of their valuable or sentimental jewelry items. Many clients have come to us and asked if we can duplicate their loved ones’ jewelry so that their family member can still wear the ‘look-a-like” while the family secures the actual jewelry items in a safe place.

Now before your blood pressure begins to rise about this apparent deception, let me share my own Fathers’ scenario: My father Lyle was admitted to a wonderful care/living facility outside the Chicago area and there were approx.30 residents in total. Many, if not most, had issues with memory loss, dementia or distorted reality. My Father would sometimes leave his personal belongings outside of his room in common areas or other residents rooms. Most of the time these would find their way back to him (who would want his electric razor or book that he was reading or photo album?) but many times the staff could not locate missing items. His wife Judy thought it best to hold onto his good watch, rings and bracelet while providing him with a utilitarian watch and inexpensive wedding ring. Sometimes she still had to go hunt these down…When our clients come to us, they sometimes ask if we could re-create a sentimental and valuable item so their loved one will still have it to wear without worry of a valuable, mysterious loss. We can also remove a valuable diamond or colored gem (with signed permission of course) and replace it with a synthetic or simulant that looks just like the original. The family is thrilled because their loved one can still wear their favorite piece without the liability of theft or mysterious loss. I can’t begin to tell you of the many stories that we hear of treasured jewelry pieces that have gone missing from clients who are in care facilities or who have home healthcare  with various medications and many different people coming into and out of their homes. The heartbreak is no one knows what happens to these pieces of valuable jewelry…thrown away in a used tissue, hidden in a strange place and forgotten or one of dozens of other scenarios…

Feel free to ask us if you have a family member who might require our assistance with this kind of situation. Taking action now might give the entire family great peace of mind for a loved one’s jewelry legacy.

The Miami Beach Jewelry Show…Underwhelming

October 18th, 2011

Cameron, Jenny and I just returned from the Miami Beach Jewelry show and I looked diligently to try and find some worthwhile trends to share with you…Unfortunately, unless you are into Arabian/Afghani cheap bazaar chic, there was nothing to comment on. We saw an overabundance of uncreative steel jewelry (probably due to the cost of gold) and everywhere were cheap bead necklaces (I’m soooo tired of tables and tables of bead necklaces). This show was necessary for us to connect with a couple of our international vendors who don’t attend the NY show and luckily they had what we were waiting for! I’m excited to show you the awesome Blueflash Moonstone pieces and Ethiopian Opal pieces they created for us. When they took the pieces out from under the counter and placed then in a tray to show us, other jewelers walking by stopped and asked to see them…Then we trudged along the aisles hoping to be inspired by some new work….Immodestly, we commented on how much cooler our own designs were than the bulk of what we were seeing. This holiday season customers are going to be shocked when they go into the average jewelry store and see what the new prices for gold and diamond jewelry will be. Many stores ordered their holiday merchandise in Las Vegas at the big June show. As it starts arriving in their stores, currently, they will be shocked at the gold and diamond surcharge fees added since they placed their orders (gold and diamond prices are waaaay up from last year). After they put their typical markups on the pieces before they hit the showcase, many jewelers will be shocked at the prices as well! Then, when all that high priced inventory doesn’t sell for Xmas, they will have to discount it to get it out the door so they can pay those HUGE January invoices. If they can’t sell it, then you will have more retail doors closing and many vendors stuck with unpaid invoices.. I’m so glad we have been utilizing our slower summer time to create new inventory with gold you have traded with us and using cool, new gems that we own outright for amazingly fair prices. The whole staff is thrilled with the new pieces we are preparing for the holidays and particularly, new earring designs that will make your eyes dance!

Designing/Recycling for a good cause

September 25th, 2011

In partnership with the Southwest Florida Symphony (of which I am a past Board Member) we assisted in raising money for the Symphony’s Golden 50th Anniversary. We were asked to collect gold from potential donors that the Symphony would send our way and I also attended two Classic concerts and was available to accept gold donations in the foyer. The great recycling twist we added was that we used some of the donated gold to fabricate the cool ring that you see here. The small oval gems on the sides were also donated to the gold cause and we decided they would work well in our chosen design. The pinwheel-cut Amethyst in the center was our donation as was the labor and skill. The piece was to be auctioned at a Symphony gala but due to last minute communication snafus, the ring rested in our vault. We were able to place the ring in our showcase and a few weeks later we sold the one-of-a-kind ring to an admiring client. We were able to donate the check for the ring as well as a check for the remaining gold that was not used…a great re-use for a worthy, local cause!

Save the Life of Someone you Love…

July 21st, 2011

colon cancer awareness ribbon icon…or your own by getting a colonoscopy. As an honorary Lifetime Board Member of the American Cancer Society I was and am fully aware of the importance of early detection in the diagnosis and treatment of cancer. Colon cancer runs in our family and I lost my mother-in-law to it after a courageous multi-year battle. My mother-in-law and thousands of others could have been saved by early detection of their cancer with a colonoscopy. Oncologists will tell you that the most important factor in a person’s beating cancer is how early the detection of the disease. Today I went in for my second colonoscopy (my first was 5 years ago and was a “virtual” colonoscopy which I would never suggest to you) and was amazed at how simple, easy and painless the procedure was. (I know we should be discussing jewelry related subjects here but this is much more important). My friend and juggling partner Dr. Jim Penuel is a terrific Gastroenterologist and he set me at ease and handled the procedure. When I woke up from my short and deep nap, he informed me that he had excised a small polyp that, given enough time, could have endangered my life. They don’t call colon cancer “The Silent Killer” for nothing. Usually, by the time you are symptomatic it becomes a much more difficult disease to treat and your life becomes that much harder to save. Dr. Laszlo, who is the retired head of research for the American Cancer Society, told me that he wished he could force every single one of his family members to have the procedure done. He felt that strongly about it. I’m glad I did it and that my physician suggested I have it done again at this time. Allow me the honor of saving your life…go get yours done now and breath easier about your future.

How To Keep Your Jewelry From Going Missing

July 12th, 2011

Diamond ring with broken prong and loose diamondToday I had a client come in the gallery with her 3/4ct round brilliant diamond missing from her prong setting and blaming us since we were the last folks to work on it. When we checked her repair history we discovered that the last time we had “just” worked on it was 5 years ago and it was only a sizing with nothing done to the prongs.
OK, here it is… jewelry needs to be maintained just like your car, home, health, etc…! Although your jewelry is made from some of the strongest and hardest materials on the planet, your day-to-day wear patterns take a hell of a toll on your pieces. Clasps get soapy and sticky and don’t close; rings get slammed on everything from your dinner table to your steering wheel; earrings get (I’ll be polite) gunked up, and bracelets are constantly banged around and their moving parts saw away at each other. Please bring us your jewelry on a regular basis (every 3-4 months) so we can clean it, polish it and check everything for tightness and closure. We NEVER charge for this service and are grateful that you come in so we can assist you. We have some clients who come in every Friday to have their pieces cleaned and polished.

That is just about care and maintenance… How about security? Do you hide your jewelry somewhere within 25 feet of your bed? Bedroom/bathroom linen closet? Bedroom closet in a “special” shoebox? Nightstand drawer? Lingerie drawer (that’s the 1st place  every crook will look)? Stop hiding your jewelry in typical, easy-to-find places! Lock it up and I don’t mean in that ancient floor safe in the corner of your closet, under the carpet, where it’s too dark to see the combination to open it and the dust bunnies are large enough to have a zip code. I mean a simple, well-hidden, small (hotel style) digital safe with a digital keypad that is screwed into a cabinet wall or shelf and NOT in your bedroom or bathroom. Somewhere easy for you to access (eye level) like a laundry room cabinet or garage cabinet or even a kitchen pantry cabinet.small digital safe Then slide something in front of the safe to hide it like a stack of towels or cereal boxes or air filter. These safes are super easy to use and only take 3 seconds to punch in your secret code to open.
When folks enter your home, either invited or uninvited, you want to prevent them from easily putting their hands on your jewelry! This list includes: new friends, service people, friends of your kids or grand-kids, babysitters, house cleaners, repairmen, etc. Yes, I am guilty of profiling, but I know who is stealing jewelry because my wife Sheri’s whole family is in law enforcement and THEY tell me.
We sell small, digital safes for $50 (my cost) and if your husband can’t install it – don’t have your handyman install it (think) – but for baked treats or bagels and coffee, I can and would  help out, because I care about your jewelry and want you to have it in your family for many generations to come (not at the local cash-4-gold place).

Regular maintenance and a small amount of discreet security will go a long way to saving you heartache, insurance headaches and cruising the local pawnshops looking for your stolen heirlooms.

How to Listen

June 27th, 2011
Mark Loren and Sheri Loren with daughter Kenna

Kenna with Mark and Sheri

Our daughter Kenna just graduated from Navy boot-camp at Great Lakes Naval Station, just north of Chicago. We went up for her “Parade-in-Review” ceremony/graduation and spent the weekend being the proud parents of a new sailor. When I asked Kenna what was the most important thing she learned or discovered about herself; she replied, “They told us on the 1st day that we didn’t know how to listen and had NEVER learned how to listen and that was going to be the hardest task at hand for the next 7 weeks.”  Of course, all of her fellow recruits (she was in a co-ed division) doubted this assertion and spent the next week discovering through push-ups, lean-and-rests and other physical pursuits how wrong they were. The RDC’s (Recruit Division Commanders) illuminated for the recruits in the way that all Drill Instructors enlighten, with physical reinforcement. Kenna learned that marching and physical training is one of the many forms of listening in action and that after her 7 weeks were up, she realized that she had a new distinction for listening! When we were talking about it, Kenna was relating all the colorful ways that the RDC’s reinforced listening. Kenna mentioned that the kind of listening her RDC’s required had to be exact, 1st time and accurate with action. She said this was one of the ways her RDC’s assessed leadership potential.This would be the only way to listen in the heat of battle and to save others and her own LIFE! When ship compartments are flooding or on fire, accurate and precise listening would mean the difference between life and death…with no time for second guessing. Her mom and I both noticed the new maturity and bearing that she greeted us with upon graduation. Her plan is to head towards serving on a hospital ship doing Radiology or Physical Rehabilitation and she now knew how vital listening was going to be regarding her posting.

I realized while we were speaking that (although not a life and death situation) listening is crucial in our custom design work and for creating a memorable piece for the client that accurately reflects their desires. We have to listen for what the client wants (not what we want) and guide them with our technical expertise and creativity. We have to know what metals will work best for the application, what gems will be appropriate for hardness and wearability, and what budget we will need to fit the client’s request. Many times I have to listen to what is not being said and to ask the right questions that will eliminate wrong directions or poor design choices. This is one of the areas that I really enjoy as it allows me to become more intimate and related to our clients. I am thankful that when I was working at Wenzel Jewelers in Barrington, Illinois, Mr. Wenzel allowed me to work directly with clients in the design process rather than have one of our sales staff interpret for me. He trusted me with his clients and that trust required me to heighten my listening capabilities beyond my own head chatter, so I could design successfully for those customers. Even though what we do is not life and death scenarios, we are relating to clients in a way that includes those scenarios, honors them, and creates a lasting tribute to fallen family heroes, loved ones and/or gifts of everlasting love. I realize that people hand me their most treasured and valuable objects, family heirlooms that you cannot place a price upon. I listen with rapt attention as clients share with me the history of each pendant, ring, diamond and brooch. I understand that I am being trusted with someone’s family legacy that could be many generations old and it is incumbent on me to listen as if someone’s life depends on it…what if we all listened this way?

The Chicago Smart Jewelry Show

April 4th, 2011

I just returned from attending and speaking at the Instore Magazine, Smartshow at Navy Pier in my hometown. The educational seminars started on Friday and the show officially opened on Saturday. I was honored on Friday to be asked to introduce the keynote speaker, David Liu CEO of The Knot, the premier wedding, bridal lifestyle website. The Knot has grown since 1996 to be the number one destination for to-be-weds in the country. David was fascinating and very personable with amazing statistics and recent survey information to share with the assembled jewelry store owners and managers (I was able to chat privately with David about where he saw our industry going and he replied that we now have the digital technology to treat all of our clients as if they were our most special client. he gave me a couple of great ideas that you will see soon in our gallery). I was also asked to moderate a session where David invited three, Chicago area, to-be-wed couples to be on a panel to answer questions from myself and the other attendees. The couples were incredibly honest and sincere with all their observations and comments. Two of the couples gave high marks to Steve Quick Jewelers in Chicago for their personable service. The audience was able to interview the couples (with my moderating the conversation) to glean valuable suggestions of how to alter their own client interactions and to better design a customer experience in their own stores. David was able to show how The Knot’s current data survey, with over 10,000 responses, was perfectly reflected by the responses given by his three, to-be-wed couples.
I also was able to spend some quality time observing the bench challenges which were a sort-of Olympic games for the best hands-on jewelers in the country. Wax carving, stone setting, hand engraving and CAD design challenges were displayed on large flat-screen monitors for everyone to follow the handwork. I was also privileged to meet Jim Tuttle, who owns one of the largest (if not the largest) custom design studio in the country, based in Seattle, Washington. His huge operation is called Green Lake Jewelry Works and employs upwords of 40 craftsmen. Jim was a pleasure to talk with and was very generous in sharing some of his best methods with me. He brought a few of his jewelers with him to compete in the challenges and we all were able to enjoy a fun dinner together including Cindy and Terry Chandler who ran the education of the show. I was thrilled to be sitting around the table with the current “hotshots” of my industry. I was also able to enjoy one of the most amazing dining experiences of my life at the Chicago eatery, “Moto”. The diner to my right was one of the partners of the Denver Broncos and he had brought his 13 year old son from Denver, just to try the restaurant. If you are ever in the Windy city, book a reservation at Moto and try Tapas from the 22nd century! Ok, aside from food, I was able to try some of the newest jewelry tools coming available and to experience how social media is influencing the jewelry industry. Feel free the next time you stop in the gallery to ask me about some of the show highlights and to view the unbelievable, Ethiopian opal I brought back with me.
Now that I’m home, I definitely feel smarter…and more proud of my own jewelry team!

David Liu CEO of The Knot & Mark Loren

 

Gem and Antiquities Trunk show was a blast!

March 24th, 2011

GemtrunkshowOur “Rockstar” gem dealer friends, Simon and Laurie Watt stopped in town to assist us with an important client and we asked them if they would hang out for the evening so we could invite clients and friends to stop by and not only meet them, but enjoy and share in their passion for ultra-amazing colored gems. We also were able to secure a collection of museum quality bronze antiquities from one of our favorite dealers. The antiquities ranged from Roman bronze artifacts to bronze crosses from the 12th century. The Viking chains and decorative objects were spectacular and very affordable. Clients sampled superb eats from our culinary whiz Rocio Penault and sipped wine or Mark’s creative martinis. Clients truly enjoyed pairing the Watt’s gorgeous gems with the ancient artifacts. We had one client who went straight for the best crusader-era cross on display and scooped-up the three most unique Viking objects. The staff can’t wait to get started on those design projects! I really enjoyed shaking cocktails and chatting with our guests. In the gem show, it seems all the colors of precious Zircon were the biggest hit. Simon waxed poetic about the range of colors, location and affordability of this special gem. Clients were able to view and choose from gems that were just cut in Sri Lanka a few weeks ago. Many friends appreciated the opportunity to speak with and learn from Simon and Laurie’s vast knowledge of the gem trade. They explained that that don’t usually work with private clients, just private jewelers. They enjoy speaking with our clients as people come ready to engage in learning more about colored gems. Give us a call or send me an email if you would like to be invited to our next colored gem event! We are thinking that our next event might be all about pearls…Sushi, Saki, Geisha Girls?

Simon & Laurie Watt, Celebrity Gem Dealers

 

Olympic Arts Museum Opening

March 7th, 2011

Haise with HSH Prince Albert of Monaco

I have just attended what I believe to be the most elegant and exciting event of the year (taking nothing away from WineFest). The grand opening of the Olympic Arts Museum in downtown Fort Myers was spectacular in many ways. The organizers and planners of the event did an amazing job of welcoming all the notables including HSH Prince Albert of Monaco and over 20 international, former Olympic athletes and now artists and your normal host of local celebrities. My youngest daughter Haise attended with me and was able to secure a photo with Prince Albert and a few other giants in the crowd (as well as a seat at the head table near the Prince). Our local county commissioner Tammy Hall gave a splendid performance hosting the evening (and wearing awesome Mark Loren Jewelry) and keeping everything moving along. Dance Alive, a fantastic dance company entertained with beautiful versions of simple dance and Olympic style interpretation. I mentioned to Dr. Marcus Sherry, one of the Board Members of AOTO, that a flame had been lit that night and all the Olympic athletes who were in attendance were fanning it hotter and that we needed to make sure we continued to stoke it. You could feel that a momentum had been created and all the athletes were commenting on what a rare and incredible facility our new museum was. The decor was the most spectacular I have ever seen Harborside decorated (way to go Erline!) and it was a fitting display for our international guests. The piece we had donated for the evening was worn by Cathy Oerter who is the wife of the late, great athlete and visionary Al Oerter. Cathy described our piece and the bidding was deliberate and focused. Thanks to Pamela Templeton for her purchase price of $7000! My daughter and I also had the grand pleasure of meeting the featured artist, Gold medal winning Olympic Athlete Larry Young and his wife Candy. Larry won his gold medal Racewalking! His stunning bronze sculptures were a favorite of Al Oerters and he filled the upstairs gallery with jawdropping pieces. He graciously explained to Haise and I what his inspirations were and how his work had progressed over time. He invited us to visit them at his foundry in MO. We hope to create some miniature versions of his large works to aid the museum in their fund raising efforts. I couldn’t stop myself from looking at his sculptures and quietly thinking ” this one and this one would be great pendants and that one would be a gorgeous brooch”. His wife Candy agreed wholeheartedly…take a moment if you are downtown and stop in upstairs at the museum and experience the amazing art of our Olympian artists….right here in little ‘ol Fort Myers!

Looking down our table