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
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?



