Seasoned staff, dedication to customer service credited
(NEW YORK) – Less than a year after its launch, White Pine Trading LLC’s Fine Jewelry division has experienced better-than-expected growth, according to industry veteran Jeffrey Sadowsky, Vice President of Fine Jewelry Acquisitions.
“I’m pleased to announce that the Fine Jewelry division’s acquisitions and revenues have easily exceeded our initial projections,” said Mr. Sadowsky, who has more than 45 years of buying experience in the industry, including 16 years as Director of Acquisitions at GBC before joining White Pine. “Since our May 2014 launch, we have purchased approximately $20 million of fine jewelry and estate jewelry, as well as branded and antique pieces. Individual items purchased have ranged in price from $500 to well over six figures.”
To expand its suite of services, White Pine – one of the world’s largest recycled diamond companies – created the Fine Jewelry division in May 2014 as a vehicle to acquire inventory at below-market prices from jewelry manufacturers and wholesalers around the country. The division subsequently widened its acquisition activities to include estate and antique jewelry as well as in-store purchases from consumers, and is now considering retail going-out-of-business opportunities. All goods are then marketed by the division’s team of seven experienced field salespeople to top independent retailers across North America, giving them access to a wide range of margin-boosting inventory.
The division’s recognition in the industry was underscored by the reception it received at the recent Hong Kong show, which Mr. Sadowsky described as “a great success from both a purchasing and vendor relations standpoint.”
White Pine recently enhanced the division’s sales team with the addition of Midwest representative Scott Pogofsky. Based in Chicago, Mr. Pogofsky brings more than 30 years of industry experience, specializing in higher-end diamonds and jewelry.
“Scott is a veteran sales consultant who has worked with some of the finest jewelers and retailers in the world,” said Dominic A. Mainella, the division’s National Sales Director and Acquisitions Advisor. “He is a valuable addition to our team.”
White Pine Trading LLC has offices in New York, Birmingham (UK) and Tokyo, and buyers across the United States, United Kingdom, Europe, Japan, and Australia. The company buys recycled, polished diamonds of all sizes and grades, either loose or in second-hand diamond jewelry. White Pine remanufactures chipped, damaged and poorly cut diamonds to homogenize appearance. It uses a significant proportion of its diamonds in jewelry and resells the remainder to a network of retailers, jewelry manufacturers, diamond manufacturers and dealers, primarily in the United States and Asia. The company’s White Pine Jewelry Solutions division provides consulting and other services to retailers, manufacturers and wholesalers, and the industry’s asset-based lenders.