[Jewelry making - Article 00117] - Re: [Orchid] Suggestions on selling old stock

[David Geller]

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    Sorry for the late response. Here's some answers: 

    15 ways to get rid of old inventory 

.....................................................

    1. Have a showcase to set aside a grouping of old items and discount
    them. Call the case: 

    a. Say good bye to our old friends case 

    b. Extreme value case 

.....................................................

    2. Double or triple the commission on old items, in the case, or
    not. 

.....................................................

    3. If you've never tried commission, now's the perfect time. Try
    5-10% of the sold price. 

.....................................................

    4. Split the profit on old merchandise with the sale with the sales
    person who sold it. 

.....................................................

    5. Place a certain percentage, 5-10%, of the selling price of old
    merchandise in a pool and split it amongst the sales staff at the
    end of the month. 

.....................................................

    6. You could have #5 above but make it more enticing by giving the
    top salesperson extra percentage or a bigger SHARE of the pot if
    they sold the most old merchandise. 

.....................................................

    7. Tell the staff you want a certain percentage of the selling
    price, they can have anything above that number they get. Example: A
    $500 items sells for $1000. You want 60% of the selling price, $600.
    If they sell it for $7250, they get $120 and you get $600. 

.....................................................

    8. If you have too many in a higher price point, lower the retail
    price, forcing it into a lower price point (print new tag) and put
    back out. It's a sale but doesn't scream sale. So if you have too
    much in the $400-$499 area and $300-$399 is doing well, in fact you
    need to order MORE there, don't! Just take some of the "too many"
    items out of $499-$499 and move them into the $300 to $399. Will
    save cash flow, won't have to BUY anything. 

.....................................................

    9. Return to vendor for exchange. In the future have signed on all
    orders "If not sold after 12 months can be returned for "X to 1"
    exchange on future orders." 10. Take apart, keep diamonds for repairs
    and custom design, send gold off for either money or credit with: 

    a. Roseco 800-527-4490 

    b. Hoover & Strong 800-759-9997 

    Let them have the credit on file and buy your findings and gold
    stock from them from the credit. Immediately positive to cash flow. 

.....................................................

    10. Send old merchandise to a company who will: 

    a. Take the stones out, return them to you, buy the gold. 

    b. Will buy the gold and stones at some price and give you a check. 

    c. You take the stones out, sell the gold, send the diamonds off to
    be bought from you. 

    Suggested Companies: 

     .....................................................

    Company:WORLDWIDE DIAMOND CO.
    Contact:Bob Wiener
    Address:
    607 S. Hill St. #811
    Los Angeles, California
    USA, 90014
    Phone:1 8007644367 Fax: 213622-2196
    Web Site: http://www.wwdiamond.com
    They will buy the whole shoot'n match.

     .....................................................

    Company:PAUL REISER AND ASSOCIATES
    Contact:Paul Reiser
    Address:
    P.O. Box 1595
    Green Bay, Wisconsin
    USA, 54305
    Phone:1 8774754367 Fax: 920432-5797

     .....................................................

    Paul's Closing Precious Metal Prices for 1-22-07

    Gold: 633.00 Silver: 12.92 Platinum: 1160.00

    10K $12.47 per DWT 100% Payment using the Closing
    14K $17.22 per DWT Prices on the day merchandise is
    16K $20.89 per DWT received. We phone that day with
    18K $22.28 per DWT results so you know payment is
    22K $26.59 per DWT forthcoming.
    24K $30.45 per DWT

    Platinum $48.72 per DWT

    Sterling Silver: $10.34 per Ounce

    US 90% Silver Coins: Pay $8.80 All amounts welcomed. US & Foreign
    Gold and Silver Coins: Phone for quotes. 

    We purchase diamond melee set into mounted jewelry. No need to break
    diamonds while trying to remove. Ask for our "BLUE SHEET". (Prices we
    pay for diamonds).30 to 4.00 carats 

    To Trade your scrap gold for 1 Ounce American Gold Eagles or a 1
    ounce Canadian Gold Maple Leaf you will need: 53 DWT of 10K, 39 DWT
    of 14K, and/or 30 DWT of 18K gold scrap. 

    Questions? Simply call 877-475-4367 

     .....................................................

    Company:TULSA GOLD & GEMS
    Contact:. E.W.Fisher
    Address:
    2431 E. 51st St. #704
    Tulsa, Oklahoma
    USA, 74105
    Phone:1 8002220573 Fax: 918742-5042

    Buys melee, prefers .10 cts and up, at least I1 or better. 

.....................................................

    11. Barter for advertising. Radio loves to give away stuff and some
    will trade jewelry for radio time. 

.....................................................

    12. Barter for barter dollars-get other good stuff you need: 

    a. www.itex.com 

    b. Illinois Trade Association
    Gabriele Albrecht-Buehler
    7449 N. Natchez, Niles, IL 60714
    (847) 588-1818 x110 Fax: (847) 588-1573
    email: gabrieleb AT itatrade.com
    www.illinoistrade.com

.....................................................

    13. Have a sale where "If it reaches 100 degrees on July 4th, we
    will refund all purchases". Paid by insurance, costs 8-12% of sales. 

    WKF&C Agency
    Laura Glass 631-756-3000

.....................................................

    14. Professional Sale:
    Silverman's Bob Epstein: 800-347-3258 Ext 101

    Profit Plus, Inc. Mark Preston
    2748 Perry St.
    Denver, CO 80212
    1-(800)-600-8064
    In Colorado 1-(303)-477-3363
    Fax: 1-(303)-433-0833
    e-mail address: profitplussales AT comcast.net
    www.4profitplus.com

.....................................................

    15. Charity Auction 

    a. Close the store Wednesday 

    b. Auction is Thursday through Saturday, ending at 2pm. 

    c. Merchandise over a year old is on auction. 

    d. Send out direct mail to customers, advertise to the public,
    hopefully paper & radio. 

    e. Contact a charity to sponsor. 

    f. Charity gets 10% of total sales as calculated on Saturday
    (hopefully they will advertise to their list too). 

    g. They also get $5 for every "Bid Card" sold, see below. 

    h. Contact vendors and get their old inventory, hopefully at their
    cost. 

    i. Tape on the counter small cards, maybe 3x5". It will have a place
    for: 

    Sku number
    Description
    Original selling price
    Starting bid, which is 5% below your cost.
    A line for bid Card # and the Bid amount

    Might look like this: 

    Sku No: 123-87655 14kt Bl Sapphire rings, 4-.08 ct sapphires
    with 8 pear shaped diamonds, C2BD ct t.w.
    Retail: $1000 Starting bid: $450.00
    Bid # Bid Amount

    _______ $_________
    _______ $_________
    _______ $_________
    _______ $_________

    j. Get printed 2 copy NCR forms for the bid cards. Bid crds are for
    two purposes: 

    To keep just "anyone" from writing some number. 

    Other customers can't see the name of who's bidding. 

    k. Bid card is numerically numbers and might look like this 

    Bid Card # 12345
    Your Name_____________________________________
    Street:_______________________________________
    City, State, Zip______________________________
    Phones (H)_________ (O)__________ C2A9________
    When biding, please use your bid number.
    Rules of the auction aRe:

    Auction is Thurs-Sat, ending at 2pm. Store closes at 6pm Saturday. 

    You have to be here between 2-5pm on Saturday to get the item you
    bid on if you are the highest bidder. 

    If the highest bidder doesn't obtain the auctioned item on Saturday
    by 5pm, we will give second highest bidder from 5pm to 6pm to obtain
    the item they bid on. 

    Items picked up must be paid for by cash/check/credit card. 

    No refunds nor exchanges. No charge sizing up or down 1 size. Normal
    charges above that 

    Items not bought/picked up on Monday will be given to charity or
    melted and will not be available for purchase after the event is
    over. 



 
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