During JA New York’s panel discussion “How to sell estate jewelry in a traditional jewelry store” estate jewelry experts Jim Rosenheim from the Tiny Jewel Box, a fashion-forward antique jewelry store, and Susan Abeles of Bonhams, the fastest growing auction house in the U.S. gave retailers insight into incorporating estate jewelry into their current stores.
They discussed the benefits of having estate jewelry in a traditional store as well as the downside of buying estate jewelry as a retail store owner.
They highlighted 6 keys to successfully incorporating estate jewelry into a contemporary jewelry store:
- Antique vs. vintage. Antique jewelry, by definition, is at least 100 years old. Anything less than that is considered vintage.
- Educate yourself. Both panelists agreed that the infinite number of simulated vintage pieces in the market make it hard for buyers to know which pieces are actually authentic. Knowing about historical periods, designers and products is essential for not only buying pieces but also selling them. Create tearsheets with little facts about each piece for staff to study so they can fall in love with each piece and sell it successfully.
- Make the right contacts. Speak to experts in the estate jewelry industry for advice and tips about buying authentic pieces. Also, building a solid relationship with a trustworthy wholesaler can help avoid mistakes in buying pieces.
- Get it in writing. Jim Rosenheim advised retailers to get authenticity in writing from the wholesaler, that way if a piece ends up not being authentic, the wholesaler is at fault.
- Know your client. Susan Abeles spoke about the importance of profiling each client to make sure the piece they choose is absolutely perfect for them. Profiling them by height, weight, personality and style will help salespeople find the right piece for the client and the client will avoid having buyer’s remorse.
- Ease into estate jewelry. Jim Rosenheim suggested “dipping a toe in the water” of estate jewelry by carrying vintage bridal rings in a traditional retail store. He said it provides brides with a unique and exclusive look and is often the most popular vintage jewelry choice for younger women.