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Last updateThu, 17 May 2018 7am

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Retailer Roundtable: With repairs, what’s your response when asked about switching a diamond?

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Q: With repairs, what’s your response when asked about switching a diamond? 

“I think the industry is still feeling the effects of that high profile [NBC] Dateline story from 2005 when a New York-based jeweler was caught and arrested for doing just this. Unfortunately, this news story indicted all jewelers. Our solution is being transparent, literally. We have a 5’ x 3’ viewing window of the jeweler’s workshop. People can watch me set their diamond, while they wait or by appointment. 


Retailer Roundtable: What do you do when a customer breaks an important piece in your store?

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Q:What do you do when a customer breaks an important piece in your store?

“We don’t have a set policy for this type of incident. Pretty much in all cases we’ll cover the cost of repairing the item to avoid any ill will with the client. This is especially true today with so many peer review websites. Imagine what kind of Google Review or Yelp rating we’d have if there was a ‘you break it, you buy it’ policy. It wouldn’t be good. If the incident happened and it caused significant damage to the piece, we’d file an insurance claim. 

“That guy who baby sits jewelry stores”

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Longtime jeweler fires up retired ambulance to offer shop owners precious time off

Many times during the past four decades, Jeff Kaiser could have used a hand to run JB Kaiser Jewelers while he stepped out for an important family event, or even a vacation.

Retailer Roundtable: Do you buy from the public? What is your procedure? What are the challenges?

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“For precious metals we either buy outright, but a lot of times people opt for a trade in, which gives them an extra 10 percent more for the item(s) sold. Typically, we sort pieces by precious metal types and karatage, and then weigh the item. We then plug in the pennyweight of each item(s) into a formula using the day’s spot prices. If customers want gemstones that we aren’t interested in buying, we’ll remove those as well. For diamonds we typically buy at weights of half-carat and larger, but will purchase smaller sizes in complete jewelry pieces that we’re buying.

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