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Loose Versus Mounted
February 8, 2008

Most of our semi-mounts are mounted with CZ’s and we tend to show the diamonds loose. My sales associates encourage customers to put their money into the center stone by telling them that the diamonds in the semi-mount should accentuate the center stone, but not take away from it.

 

Today, I was talking to my friends and I never realized that all their diamonds are mounted (most the diamonds in my FL store are also mounted). Back to my friends, while I was talking to them they told me the reason all their diamonds are mounted is that they make a larger margin that way then showing the diamond loose and being that the center stone is live the customer’s get to envision how the ring looks like pieced altogether versus seeing the CZ in it.

 

I started thinking—loose versus mounted? Showing a diamond loose—does it have more allure? Does putting a CZ in the center of a semi-mount cheapen the ring?


Posted by Shanu Singh Guliani on February 8, 2008 | Comments (5)


February 11, 2008
In response to: Loose Versus Mounted
JACK800 commented:

Putting CZ's in semi-mounts is the right move up to the point where the semi-mount represents 30%-50% of the sale. When the price of the semi-mount becomes a minor portion of the overall price (less than 30%; i.e., a buyer shopping for a larger stone), the shopper typically wants to see That Stone on their finger. Hard to do when its loose. Mounting a larger stone also gives you the chance to create an in-store on-the-hand experience that the consumer can mentally take away and reflect on. Too often, I’ve seen store owners tweeze and compare diamonds with analytical precision in an effort to sell a stone and lose the customer who is there to make a purchase that reflects an emotional need. Try mounting some of your larger diamonds in simple settings so your customers can try them on for effect.




February 13, 2008
In response to: Loose Versus Mounted
Brad Brown commented:

I have been looking at these blogs for about 2 weeks now and have come to one conclusion about you and your business Shanu and I am going to give you some constructive critisism. Please take no offense as I am only trying to help and not trying to sound like a know-it-all. The problem you have is identity. Simply put Shanu you need to decide (and soon) whether you are trying to run just another run of the mill jewelry store or whether you are striving to be the best. Judging by your picture you are young like myself and that is a huge advantage to choosing the latter. You have such a good head start on some competition and could down the road have your own lines of jewelry or have stores all over the country. Of course it all comes with much sacrifice and hard work. Start comparing yourself with jewelry stores that are known for being the best and do things to include yourself in that category. Billybob jeweler down the street will always be clueless and never see his business grow but so much. Don't be the billybob jewelry store, start separating yourself from run of the mill dime a dozen places, and throw your CZ's in a gumball machine. If you get in the mindset of thinking every minute how you can get better and better and better then you will answer a lot of your own questions and you will in turn be much more successful.




February 17, 2008
In response to: Loose Versus Mounted
Monty commented:

In Regards to Brad Brown's comments, I can not understand where you are coming from. Shanu's contribution to this forum is relevant and informative; I personally have many of the same questions. Your main argument is to look at how the largest outfits operate and copy them; however this may not always be relevant for all business. Further, I believe that there are many intelligent individuals, including your self, when it comes to innovative ways of bettering our operations. Shanu, keep up your rousing work and I look forward to reading and learning from your operational betterment.




February 20, 2008
In response to: Loose Versus Mounted
Neil The Jeweler commented:

Monty, Its funny, I didn't read Brad's comments as blindly 'copy the big boys' but rather to look at successes and determine what may be useful for your own operation. He's suggesting image is crucial for an upscale store. I assume Shanu is at least trying to be upscale because she sells carat-plus stones and does seem to value her customers. Displaying your semis with CZs set in place may cast doubt in the mind of today's savvy shoppers, many of whom can spot a CZ. They may wonder, "if you're trying to sell diamonds why are you showing me CZs? If I pay for a diamond will I get a CZ instead?". That kind of thought process is insidious, you may never counter it. You wouldn't try to sell a Rolex by showing a $25 knockoff. People want the real deal. If you don't have a large enough inventory of loose goods, develop a relationship with a diamond dealer who will supply you with revolving memo and fast delivery of calls in exchange for loyalty. But getting back to the original question of loose versus mounted...why not do both? Have an assortment of popular styles mounted, ready to go for the impulse shopper and some loose stones and semis for the more discriminating client, who usually doesn't mind a few days extra to get 'something special'.




March 9, 2008
In response to: Loose Versus Mounted
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