What’s Your Store’s Warranty?
Policies and warranties—they gave me such trouble when I was creating the receipts for the new store. One the back of the receipts—is the usual exchange and return policies for in stock items as well as special orders. I also have a disclaimer about blood diamonds, a tidbit on all colored stones being at the very least heat treated, and a blurb about rhodium. What I don’t have is warranty information and a customer asked one of my employees just last week when a diamond we set fell out of her band and into the ultrasonic.
Story:
Customer purchased a loose diamond, solitaire setting, and a plain 3mm white gold band. The jeweler set her .01 pointers in burnish halfway around the band as well as in the engagement ring. The customer came in only 2 weeks after the purchase and asked if we could clean her rings. An employee put her rings in the ultrasonic and then steamed them—then realized a diamond had come loose and fallen out while in the ultrasonic.
Employee was honest with the customer and told the customer the diamond fell out and we would repair it at no charge. Customer said, “I decided to set the diamonds like this because I had lost so many in my other setting. What would your company do if the diamond had fallen out outside of the store?”
Employee:
Thinking quickly, the employee said, "If a stone comes out due to a defect, we will warrant it for a year, but you need to make sure it is brought in for cleaning and checking periodically. If it falls out due to abuse we will repair it, but there would be a charge.”
Is warranting a product for a year—standard in the industry? I did some calling around and most in my market warranty an item for a year. I did remember a store I worked at warranting a diamond purchase for life—but a customer had to come in every three months for cleaning and checking—we kept a log and they signed each time they came. We kept hard copies of this form.
What about large solitaires—one carat and up? Does the same warranty apply?
AR commented:
If you keep a logbook, than some customers will claim they brought
the piece in for inspection even when they did not. If you give a
guarantee which the customer has to bring in and get signed every
six months, then it is the customer's responsibility to maintain it
and you will have to pay out fewer claims.
AR commented:
If you keep a logbook, than some customers will claim they brought
the piece in for inspection even when they did not. If you give a
guarantee which the customer has to bring in and get signed every
six months, then it is the customer's responsibility to maintain it
and you will have to pay out fewer claims.
Hedda Schupak commented:
When you buy a car, doesn't the warranty state that you have to
keep up with regularly scheduled servicing, and that it doesn't
cover damage due to owner negligence or accidents? Probably same
thing here--set up a service plan and keep a log of it. Obviously
you don't want to get unreasonable if someone misses a check on
their ring, but if they haven't been in for years since the
purchase, that's something else. And, as Christopher says, if it
doesn't cost that much, just do it. The gain to your reputation is
well worth the investment.
Christopher commented:
Yes, we have paperwork to go along with it which records
everything. I am confident it has sold pieces due to the fact we
stand behind our work, rather than selling a warranty like the
chain stores do. Wouldn't it be ridiculous if you had to buy a
warranty with your brand new BMW? I believe so, and I think jewelry
should be no less. How much does it really cost to replace a 5
point diamond that falls out of a micro pave setting?
Shanu S. Guliani commented:
Christopher--do you record when the customer comes in for a check
and cleaning?
Christopher commented:
At my store we have a lifetime warranty, primarily because we are
located in a mall, thus most jewelry shoppers will be comparing you
to Kay, Zales, and JB Robinson-but since most of our pieces are
cusotm, we stand behind our work. We have a lifetime warranty if
ANY stone falls out as long as the item is brought in every 6
months for cleaning and inspection, and not subject to abuse. As
long as the ring is not lost, dropped in a garbage disposal, your
pretty much covered.
Christopher commented:
At my store we have a lifetime warranty, primarily because we are
located in a mall, thus most jewelry shoppers will be comparing you
to Kay, Zales, and JB Robinson-but since most of our pieces are
cusotm, we stand behind our work. We have a lifetime warranty if
ANY stone falls out as long as the item is brought in every 6
months for cleaning and inspection, and not subject to abuse. As
long as the ring is not lost, dropped in a garbage disposal, your
pretty much covered.
