Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    NDC Education Partner Program
    Mystery shopping results reveal opportunity for proactive consumer natural diamond education
    Jewelers of America announces 2023 GEM Awards winners
    jeweler
    ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training
    skull rings
    KIL N.Y.C. introduces the Cranium Ring
  • Podcast
  • Columnists
    The Story Behind the Stone: Diamonds on Pins and Needles
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Jeweler brings Midwest to the Southwest
    Tara Fine Jewelry: Atlanta’s not-so-secret, best-kept secret
    Finding the Big Ones; Zambian Trophies for the Ages
    The Golden Girls of Gemstones
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    NDC Education Partner Program
    Mystery shopping results reveal opportunity for proactive consumer natural diamond education
    Jewelers of America announces 2023 GEM Awards winners
    jeweler
    ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training
    skull rings
    KIL N.Y.C. introduces the Cranium Ring
  • Podcast
  • Columnists
    The Story Behind the Stone: Diamonds on Pins and Needles
    Jewelry Marketing Survival Guide
    The Story Behind the Stone: Out of the Blue
    What’s Hot Now!: Latest Designer Trends 2023
    A Winning Strategy: How SEO and buying intent can skyrocket your sales
    business people shaking hands
    Networking for small business owners
    Is the customer always right?
    Successful Custom: A Clean Disaster
    Brad Huisken
    A quick note about technology
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Featured Articles Featured Retailers

Pre-selling Tucson creates increase in custom work

Paul Holewa by Paul Holewa
May 31, 2015
Share on FacebookShare on Twitter
Reading Time: 9 minutes

Many jewelry store owners gamble on their Vegas jewelry purchases to be hot sellers at Christmas. For T Lee, owner of T Lee Custom Designer Jewelry, the AGTA Tucson Gem Show is a safer bet. The odds of increasing custom work throughout the year favor the Minneapolis, MN-based jewelry designer/retail store owner when she and her staff contact the store’s top customer lists to pre-sell the annual gem show.

T Lee June
T Lee, owner of T Lee Custom Designer Jewelry.
T held her first Tucson Preview Event last year. After fine-tuning the particulars and logistics of the event, T and her store manager Nate Smith have hit on a winning formula for buying loose colored gemstones at the Tucson gem shows. The Tucson Preview Event has proven to increase her store’s custom jewelry work (the lifeblood of her store), generates customer interest in colored stones, and builds the store’s inventory of loose colored gems.

The idea of pre-selling a buying trip came to T in 2010 when she decided to pursue a career goal of buying gemstone rough in Africa, then faceting and polishing the rough and making custom jewelry. Pre-selling the trip to Africa had many dynamics to it that made it risk-free for T’s 20 clients that invested $500. Upon return from Africa T held the Africa Preview Event, an exclusive event for the 20 investors only, where they were the first to see and have an opportunity to buy the freshly faceted African gems. If the investor didn’t find a stone at the event their $500 was returned and applied toward a store credit or a current custom jewelry project. 

T occasionally pitched the investment as a $500 “micro-loan” from clients to finance the trip to Africa, which was paid back at the event. And, of course, the ideal situation was working with a customer from gemstone rough to finished custom piece.

In late 2013, T had the idea to apply the basic principles of the 2011 African Gem Rough Journey to pre-selling her February 2014 buying trip to Tucson for finished loose colored stones. From the experience gained designing the Africa Preview Event, T and Nate easily figured out how to make the Tucson Preview Event profitable and even more fun for the clients to attend.

Here’s how they gather investors. Twenty clients are asked if they are interested in joining the TPE investment group. T and Nate have built a list of special incentives into the event for the investor only, including; 20 percent discount off any gems they choose that night, $100 of diamonds for each custom design set up at the event, $100 off their next year’s investment for the TPE if paid that night, and an opportunity to buy from the special “Day Old Gems” case.

T Lee display June
Customers preview the wide array of products brought back from Tucson.
Customers are interested in purchasing not only faceted gemstones but other items of interest that can only be sourced at the Tucson gem shows, such as copper “slag” bowels with brilliant patina, exceptional agate “pinch” bowels and exotic mineral specimens. The goal is to have new items each year to make investing in the next year’s trip a no-brainer.

With $500 from 20 customers, Nate and T go to Tucson looking for deals. One way to do this is buying with cash. And, if cash deals don’t work out, using a credit card has its advantages. 

“We’ve found that when paying with cash, gem dealers will negotiate discounts from 5 to 10 percent,” says Nate. “And, if we purchase several items from one dealer we can negotiate a better price. If they don’t give us any incentive to use our cash we use a credit card to accumulate frequent flyer miles to pay for the tickets to Tucson.”

To keep a lid on logistics, Nate inventories each day’s show purchases on a spreadsheet. This allows the Tucson twosome to accurately track each purchase and avoid going over budget. This daily update helps them more strategically balance the diversity of the Tucson Preview Event inventory mix. 

Customer contact via in store visits, e-mail, and personal phone calls from the duo has built up excitement for the upcoming Tucson Preview Event held within two weeks of the Tucson gem show. Their store/studio has approximately 900 square feet of showroom space, making 20 customers plus staff the perfect sized party.

Here’s how they throw a Tucson Preview Event party. Upon arrival, clients are given a Gem Report price list, draw their lottery numbers for each case, and snack while they preview for an hour. To keep the evening’s focus on gemstones, the normal store inventory is replaced in each of the store’s display cases with items purchased in Tucson. Each showcase is assigned a number and the client’s corresponding lottery numbers determine the pick order for each case. During the first hour they can touch the gems they have interest in, prioritize their picks and socialize.

As the second hour begins, clients are seated and the lottery for case one begins. Nate emcees the event. He will call out customer names and their numbers asking the party attendee to “pick or pass?” In this manner it continues up to lottery number 20 before moving onto case two. Included in the introductory welcome speech, Nate requests that clients commit to any picks during the lottery out of respect to clients with lower lottery numbers.

T Lee crowd JuneAfter the final case lottery, the third hour is the “Open to Buy” portion of the evening. If a client passed on selecting a gemstone during the lottery, they still have the option to purchase it if that stone is still available. Also, they can shop the “Day Old Gems” case which are items left over from the previous year’s Tucson Preview Event offered at savings of up to 70 percent.

After all selections have been made, the client brings their tray of treasures to the cash wrap for their purchase. At that time the staff reminds them about the two $100 incentives for booking their design appointment or prepaying next year’s Tucson Preview Event investment.

“They’re going to do the custom work at some point and already looking forward to next year’s event,” says T. “Why wouldn’t they take advantage of these incentives? We don’t have to talk anyone into saving $200.” 

“Customers that know our store and know our events, especially the Gemstone Roundtable regulars, love the Tucson Preview Event,” says Nate. “For our customers that have been collecting T’s work for years, it’s a fun and novel event. For our new clients it’s a great introduction to the colored gemstone world and our custom work.”  

For T, it’s a creative customer event that adds to the jewelry buying experience at her store while fostering relationships, but it is also a lucrative way to cost-effectively add colored stone inventory at very little direct cost to the store.

T and Nate suggest retailers looking to run such an event should tap into their top custom and color customers as well as their store’s leading customer list. If retailers are interested in hosting their own Tucson Preview Event, they have franchised a turnkey program as a service to help ensure the success of the event at your store. They can be contacted via e-mail at showroom@tleegold.com.

Paul Holewa

Paul Holewa

Paul Holewa has worked as a gem and jewelry industry trade journalist for more than 20 years. He learned about the gem and jewelry industry firsthand in Bangkok and Chantaburi, Thailand, global hubs for colored stones, diamond cutting, and jewelry production. Paul called Bangkok home for 11 years. He has travelled to remote gemstone mining sites throughout Southeast Asia, as well as major distribution and manufacturing centers in that region. For most of his years as a trade journalist, Paul has specialized in writing small business management articles for retail jewelers. His specialty has been developing magazine news feature stories and online blog content to help jewelry store owners to manage their store more effectively and, more importantly, to sell more jewelry. Paul has written on a wide range of jewelry store management topics from sales training and staffing, to video marketing and social media campaigns.

Related Posts

Select Show adds Ritz Carlton in Tysons Corner, VA to Fall venue lineup

March 13, 2023
JCK Logo

JCK announces 2023 Keynote speaker and over 60 JCK Talks educational series

March 6, 2023
PJX Logo

Permanent Jewelry Expo announces Keynote speaker

March 6, 2023

SOHO EXPERIENCE by Atlanta Jewelry Show announces education lineup

March 1, 2023

Latest News

Columnists

The Story Behind the Stone: Diamonds on Pins and Needles

March 20, 2023
Other News

Mystery shopping results reveal opportunity for proactive consumer natural diamond education

March 20, 2023
Industry Events

Jewelers of America announces 2023 GEM Awards winners

March 20, 2023

Other News

ASA partners with BrankoGems Academy to offer testing loose and mounted diamonds and gems training

KIL N.Y.C. introduces the Cranium Ring

Jewelry Marketing Survival Guide

JCK Industry Fund announces 2023 grant recipients

How to drive more sales and referrals through social media

IGI moves to expanded New York offices and gem laboratory

Southern Jewelry News

© 2022 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription

© 2022 Southern Jewelry News.