Whether you sell jewelry at your own retail store or work with other retailers in the trade, controlling your inventory is an essential part of your business. It’s important to buy only what you know will sell, or you can end up with too much merchandise that just sits around and makes your accounts payables grow. One way to avoid this is by trading in jewelry, but the process of doing so requires careful thought. There are many different kinds of jewelry, and each has its own style and market. There are also a variety of materials that can be used to make it, including glass (either fused or in beads); enamel; shells; bone and ivory; wire; natural clay; wood; and hemp and other twines.
Buying from wholesale suppliers is an important aspect of the jewelry trade. Choosing suppliers who offer the best prices for your specific product can save you money in the long run. Wholesalers can often be found at jewelry shows, but they can also be located online and through trade magazines. When selecting a wholesale supplier, consider their reputation, location, and customer service.
Attending a jewelry trade show can be extremely valuable to your company. Many of your peers will be attending the same event, and you can learn a lot from them by just talking with them. It’s also important to meet new suppliers, because you never know when they may have a great product that your customers will love.
Another important aspect of the jewelry trade is evaluating your sales. You should be able to quickly identify what’s selling and what isn’t, as well as your average sale price. This will help you determine the amount of inventory to order in the future.
Trading in jewelry can be a good way to get rid of old pieces that are no longer in your taste or to turn heirlooms into something more contemporary. In addition to providing you with a source of income, trading in jewelry can also save you money by eliminating the cost of purchasing new pieces.
Depending on the type of jewelry, it’s possible to get a better value by simply selling it for its scrap value rather than repurchasing the piece. This is particularly true for jewelry made from precious metals.
Jewelers can purchase your unwanted jewelry for its value in gold or platinum, or they could melt it down and create a new item from the raw material. In either case, you’ll probably be getting close to 50% of its retail value.
If you’re going to sell your jewelry, take quality photos that show it from all angles and provide clear descriptions of the material and any other features. High-quality photos are more likely to convert into sales, and they’ll improve your brand image. Professional photographers are available for hire at many trade shows and online. They can also help you develop a consistent look and feel for your jewelry lines.
