Gold Jewelry Wholesale Insider Secrets – Staying Away From Pitfalls

by David Jenyns on July 9, 2011

Purchasing gold jewelry for your store could be a complicated business. It is important for you to do your research so that you are able to steer clear of the traps which await you as a wholesale gold jewelry buyer. It is in your favor to take the time and effort to know what your customers want and compare the different price points being offered. 

Begin by making a customer profile: what kind of designs, styles and price points they prefer. It’s wise to keep the current popular trends in mind when you are buying your inventory, this can help you to appeal to new customers and also give your current customers new gold jewelry designs to consider. If you’re new to the gold jewelry business, and don’t have an established clientele, you are able to begin with a combination of classic and contemporary designs for broad market appeal. Choosing yellow, rose or white gold jewelry in 18kt, 14kt and 10kt grades will give you a range of sales opportunities. 

In your pursuit, you’ll without doubt find a gold jewelry vendor who uses the strategy of “wholesale to public”. This might sound tempting, but based on the Lanham Act, in the section that deals with federal trademark/unfair competition rules, those who make these kinds of claims by stating a false or misleading description of fact as to the origin of there goods can be held liable in a civil action.    
In addition, gold jewelry vendors should be conscious of the FTC Guideline that clearly states: “retailers should not advertise a retail price as a ‘wholesale’ price. In other words, they shouldn’t represent that they’re selling at ‘factory’ prices when they are not selling at the prices paid by those purchasing directly from the manufacturer.” 

Dealing with unethical vendors also can damage the reputation of your business, simply because you may sacrifice quality for a low price. However your customers rely on your judgments when making the selections that they eventually purchase and as soon as a complaint of substandard goods from a dissatisfied customer is made, it can be very difficult to re-establish their trust.   
By definition, a wholesaler is a person who deals directly with the manufacturer. This assures you of quality; you will be able to get the information and support your need simply because they are in constant contact with the gold jewelry source. A reputable gold jewelry wholesale business likewise has a reputation to protect and will work with you until you’re pleased. When you choose your gold jewelry wisely from a reputable source, it is easier to set your price point reasonably. Using this practice can win over the most skeptical customers, even those who may feel that retail gold jewelry is overpriced.

One more point to remember is that your main competition for the gold jewelry customer could be found in abundance on the internet. When a customer enters your store, it offers you the opportunity to make their real-world buying experience unique, satisfying and rewarding in a way that the internet can’t offer.

If you want more information on Cash For Gold, don’t read just rehashed articles online to avoid getting ripped off. 

Go here: We Buy Gold

 

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