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ArchivesDealing with Misleading Appraisal Documents
Posted by Cecilia Gardner on January 5, 2007
What is the most effective means of addressing the practice of industry members providing misleading appraisal documents?
There are no criteria (other than those set by private appraisal organizations) that govern the practice of providing documents or even verbal opinions of value of jewelry products. In the law, the standards that apply are the usual standards that apply to making fraudulent misrepresentations. The FTC Guides state that it is an unfair and deceptive trade practice to misrepresent the value of any industry product. Through the enforcement of this well accepted standard, the JVC can address many instances of fraudulent appraisal practice by substantiating that the value asserted was indeed purposefully deceptive and seeking to correct the conduct. What better way is there to address this problem?
Industries: Legislative, Regulatory & Legal Can We Put More Spark Back Into Trunk Shows?
Posted by Howard Hauben on November 27, 2006
A boss of mine about 20 years ago correctly pointed out that if you do the same thing the same way over and over again you can expect one result: diminishing returns.
So it seems is the case with the many trunk shows taking place at retail jewelry stores all over the country. What used to be a guaranteed $50,000 per vendor has dwindled to much, much smaller numbers today. Many vendors and retailers conducting these shows tell me that they are generally "ok" but "not great" and that rare today is the super successful trunk show. The stores who run trunk shows may well have a great Holiday Season. But less of their sales growth is coming from what were once tried-and-true trunk shows.
While I write this, hundreds of vendor personnel are stand ...Read More
Industries: Jewelry Retail News Must-Have Conversations with Jewelry Customers
Posted by Cecilia Gardner on November 17, 2006
Retail sales are the lifeline of our industry - and the conversation you have with the consumer is the most important means by which we represent ourselves to the public. The JVC is acutely aware of the importance of these communications, and provides lots of information and training on how to approach often sensitive subjects such as treatment to gemstones, precious metal content and lately, conflict diamonds. All retail stores should be actively providing adequate information to sales associates so that these conversations go well. This is especially important during our upcoming selling season. Many employees are new or temporary - but they should have the information they need, or at least know where to go to find it! The JVC web site is filled with compliance information you need. We publish easily understood han...Read More Industries: Jewelry Retail News Our Industry Needs a New Generation of Jewelers
Posted by Ruth Batson on November 10, 2006
I’d like to first say welcome and hello to all of you and also congratulate the JCK team on their innovation and courage in building this forum for our industry! The American Gem Society is a 73-year young organization dedicated to building “deserved” trust in our industry.We do this by setting very high standards for our members. On average, our retail members have been in business over 55 years and 94% are multi-generational family owned operations. We serve the bread and butter of the jewelry industry – the independent. In the September 06 issue of JCK magazine, State of the Industry Report, it was reported that other retail categories are sophisticated and fun to s...Read More Jewelry Industry: Is Government Regulation in Our Future
Posted by Howard Hauben on October 31, 2006
Are we headed for more government regulation of the jewelry industry? Maybe, if we can't get things under control. It wasn't so long ago that the Federal Trade Commission Guidelines for the jewelry business and Truth In Advertising rules were a major deal, with companies planning their marketing thrusts over what could and could not be said and what specific nomenclature could be used. It was also felt that we are better off as a self-regulated industry. But it seems that the world of the Internet is fast changing the parameters of controlling who can say what about their products. Today there are millions of listings and web pages accessible to the trade and consumer with countless inaccuracies and false statements. Many of the perpetrators are blissfully ignorant of their&nbs ...Read More
Industries: Legislative, Regulatory & Legal
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