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Usable Gems... and a little opinion.
Gem Stone Jewelry Making
Gem stone jewelry making describes how some
independent jewelry dealers produce gem stone jewelry for their customers.
Many of us enjoy jewelry... and we also enjoy
people. Some have found that the two can be combined into a successful
business selling jewelry without operating a jewelry store.
Thankfully, a number of these independent dealers buy from us. Most
started by buying our jewelry dealers kit. Now we continue to provide many of them with loose
gem stones and earrings.
This issue of the newsletter focuses on how these dealers
combine loose gem stones and other components into a piece of fine custom
Please keep in mind that these jewelry dealers are
business people. Yes, they're doing what they enjoy, but their purpose is to
make a profit. Fortunately, that's not difficult.
So, let's run through how a jewelry dealer
produces a 14
kt. gold and gem stone ring for sale. We'll call our imaginary jewelry dealer Mary, although
both real men. and women are equally successful doing this.
Mary is a part-time jewelry dealer. She has a full-time
job and many of her co-workers know she sells jewelry. But they also know she
only sells jewelry after work and on weekends.
To begin, Mary needed to establish relationships with
a few suppliers where she could get the jewelry components:
A craftsperson to put it
She used the information and links in our jewelry dealer's kit
to help find them.
Now Mary has a source for gold and platinum mountings... a jewelry mountings manufacturer or supplier.
folks supply the gold ring that holds the gem stone. They also supply jewelry
components such as clasps, bails, heads, and neck chains. Mary found a supplier
in her town. He's called a findings dealer.
suppliers are wholesale only, so Mary had to give her business license
number to them when she opened her account.
Mary purchased her first few mountings with cash or a
credit card, but she has now been allowed to open an account with monthly
Mary also has a colored gem stone dealer (me). She
knows she gets a good deal here. Mary doesn't buy all of her colored gems from
me... just most of them.
For accent diamonds Mary occasionally buys from her
mountings supplier, but usually she buys from a local diamond dealer.
(When Mary has a call for a larger diamond she goes
to her local diamond dealer and gets two or three diamonds to show her customer
She doesn't have to buy these diamonds, she borrows them overnight "on
memo" as the practice is known in the jewelry trade.)
Mary also has an account with a jewelry trade shop run by
Rick. He is a bench jeweler, or goldsmith. Rick sets stones, makes custom
mountings, repairs jewelry, and sizes rings.
Today Mary wants to produce a ring for her stock. She
keeps several pieces of jewelry in stock to show to customers on request.
Last week Mary bought three ring stone sized gems from me
for this purpose. She bought:
Blue topaz, oval shape, 9
by 7 mm
Ant hill garnet, trillion
shape, 6 by 6 by 6 mm
Pink sapphire, marquise
shape, 8 by 4 mm
She has seen a ring mounting that
she likes in one of her mountings catalogs. It takes an 8 by 4 mm marquise shaped
center stone, and six round accent diamonds in 1.7 mm diameter.
Now Mary figures her costs carefully:
She already knows
what she paid for the pink sapphire.
With a call to her mountings supplier she finds
today's price for the mounting. This price varies slightly from day to day,
based on the world gold market.
She also gets the price of the accent diamonds with the
same phone call.
She has a price list from Rick that tells her the cost
to set the stones and size the ring.
With this cost information Mary determines what it would
cost her to make up the ring. She then adds her profit margin to
determine her selling price.
Mary makes a judgment that she can easily sell the ring
for this price and give her future customer a great deal.
Mary now calls her mountings supplier and orders
the mounting and accent diamonds. Tomorrow afternoon she will visit the
supplier, carefully inspect the mounting and accent diamonds for quality,
and then take all of the components to Rick.
Rick will do his magic at the workbench, skillfully
setting the stones and buffing the finished jewelry piece to be sure it looks its best.
Mary picks up her ring from Rick a couple of days later,
and again inspects it carefully for quality and appearance. She now has another
piece of fine custom jewelry in her stock. This one is a pink sapphire
and diamond ring in 14 kt. yellow gold.
After Mary sells the ring she'll bring it back to Rick. He
will then size it to fit
And that's one way that independent jewelry dealers
produce unique fine jewelry for sale.
Las Vegas Gem and
June in Las Vegas is hot. The
jewelry industry trade shows are hot, and so is the weather.
The Las Vegas jewelry industry trade show season will
feature seven shows in 2005.
The JCK Las Vegas show is restricted to retail jewelry
stor operators, but I think all of the other shows will admit gem stone dealers
and independent jewelry dealers.