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15. August 2009 by admin.
Got vintage? Estate jewelry? How about a 100,000 year old necklace? Recently discovered Nassarius shell beads from the Skhul rock shelter in Israel are believed to be the oldest necklace ever found–100 millennia! It stretches our imagination to visualize life over such a vast expanse of time. But we now have evidence that we share a basic primal impulse with our predecessors–the desire to create ornamentation and decorate ourselves.
Why do we wear jewelry? It’s a distinctively human impulse, a use of symbolism that separates us from other species. Some ancient craftsman punctured holes in the Nassarius shell beads with the intent to connect and wear them. Was that craftsman the first jeweler? What was the driving impulse that sparked the imagination?
· Jewelry signifies wealth, power and status, throughout the ages, from the crowns and regalia of royalty to the extravagant collections of the rich and famous. We mimic the famous jewelry of royalty and celebrities–remember Lady Diana’s wildly popular blue sapphire and diamond engagement ring?–to bask in an aura of elevated status. That Rolex watch or 3 carat diamond in your display taps into this basic impulse. A diamond engagement ring that equals two month’s salary is a direct display of net worth. Tap into this elemental desire of your customers. They’re instinctively drawn to magnificent jewelry to enhance their image. Let them know what a spectacular reflection that special piece will project.
· Jewelry is sexy! What instinct could be more primal? Men and women throughout time have adorned themselves to attract the opposite sex. Sparkling jewels, long dangling earrings and lustrous pearls enhance our natural beauty. Was that ancient Nassarius shell necklace worn by a tribal leader as a status symbol or given to his mate as a sign of affection to glorify her beauty? Just glance at the covers and ads in any top jewelry magazine to see the same principles at work today. Appeal to this basic instinct. Let your client know how stunning that special necklace or ring makes her look!
· Good luck charms, warding off evil. Jewelry worn as spiritual talismans is as ancient as humankind. The Egyptians created elaborate pure gold funerary pieces for their pharaohs to accompany them and ease their path in the afterlife. Currently this trend is enjoying a resurgence. In addition to the ever popular crosses and good luck horseshoes, today’s jeweler can offer a wide display of charms ranging from peace symbols to ankhs, offering positive affirmations from cultures across the ages throughout the globe. This current hot trend is truly universal.
· We wear jewelry to bind us together, to connect to each other. From the most popular engagement, wedding and anniversary rings, to Celtic friendship rings, mother’s rings, lockets with pictures of loved ones and school class rings, these pieces reaffirm our connections. From ancient times, gifts of jewelry have had a deep emotional appeal. What could be more powerful gift than a token to wear, a constant reminder to yourself and outward display for others? The smart jeweler recognizes and promotes this universal appeal.
· Express yourself! Ancient Lascaux cave drawings confirm a primal artistic impulse to create, to express ourselves. A current very hot trend with timeless roots is the desire to express individuality. From causes–pink ribbons and livestrong bracelets–to charm necklaces with uplifting messages–hope, dream, believe–to personalized “add a bead” charms, it’s all about making a personal statement. This basic human desire spans the ages, from that distant ancestor 100,000 years ago who crafted and wore a necklace of shells.
So the next time you pull a necklace from your case to entice your client, remember you’re appealing to powerful primal impulses as ancient as humankind. Tap into these motives and you’re sure to achieve success!
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30. June 2009 by admin.
What’s Hot Now
For instant impact, try color. Charged with emotion, color can electrify, command attention, create a mood. Tap this potent tool in your marketing, inventory, even store décor to entice and excite, project an image or set a tone.
“Seeing red,” “feeling blue.” Emotions are wrapped in color. Colors enliven these feelings. Hot reds, oranges and yellows electrify, stimulate, energize. Cool blues and greens soothe, calm, refresh. Beiges and grays along with black and white are tone neutral, a perfect background foil for more vibrant targeted pops of color. The neutrals’ classic appeal project timeless elegance rather than trendiness.
Like crystallized pure light, gems project pure color. The intense effect can be mesmerizing. You can fall in love with a gem. Popular blue violet tanzanite projects a fresh, rich power, both exciting and calming. Deep silver grey lustrous Tahitian pearls convey elegance, power and softness for today’s woman.
It’s all about color. Designers work with a full palette not only in gems but in metals. Pearls are everywhere in chocolate, pink and green as well as classic cream and grey. Diamonds sparkle in chocolate, black and elegant champagne. Gold is appearing in green, chocolate and pink. Fun “now” colors include fresh, green prasiolite, pink amethyst and a rainbow of multicolored topaz.
Designers and fashionistas are tuned to color. Nothing has as a greater impact. Powerfully single or in combination, it can add a “wow” factor, reflecting the mood of the moment.
“Strong yet understated Iron serves as the ‘new black,’ making traditional basics much more interesting. Neither gray nor brown, Iron is a grounding color that coordinates well with all colors in the palette,” according to Pantone Color Institute, a world council of experts predicting color trends across industries. Their top ten fall ‘09 colors for women also include Rapture Rose, which “artfully captures the vibrancy of fuchsia and the softness of pink,” “Majolica Blue, a deep, mysterious teal blue with more vibrancy than the usual navy, ” Burnt Sienna and Warm Olive.
When acting as a color consultant for your clients, make it personal. Ask “What is your birthstone?”, “What is your favorite color?” Suggest alternative “new” gems in their favorite palette range: orange-pink Padparadscha sapphires or blue diamonds. Also consider their lifestyle. The conservative executive’s image is enhanced by timeless neutrals; for the flamboyant artist, they sky’s the limit. Factor in their coloring, including skin tones and hair color (”Aquamarines enhance your blue eyes”), age-appropriateness (more muted over time), even locale (black reigns in NYC, pastels flower in Miami).
What’s Hot Now:
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17. June 2009 by admin.
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Looking to add excitement to your inventory? Want an additional engine to drive sales in this economic climate? Consider expanding your designer Collections.
The lure of designer jewelry continues to grow amidst a field of mass-produced “generic” jewelry. Reflecting cutting-edge style and a sharply branded image, projecting a uniquely inspired vision, designer jewelry adds the personal touch your customers crave. It ignites and captures their imagination.
I love designing jewelry. It’s a revolving prism at the crossroads of the industry. The designer is part stylist, part design visionary, part artisan and manufacturer. Add a healthy dose of branding and promotion, advertising and marketing and you get the designer’s unique perspective on the jewelry world.
The retailer is the designer’s best friend. We want to partner with you! We share a common goal. If you seek a competitive edge in today’s emerging market, consider all the benefits collaborating with a pro-active designer may offer:
Gone are the days when you can sit back and wait for customers to come to you. Today you have to do more to get results. Success is not for the faint of heart. Aggressive marketing is key.
Designers are promoters by nature. Part of being a designer is projecting a distinctive brand image. When you partner with a designer, you’re drawing on a reservoir of branding that’s already established and growing.
I provide a full array of promotional materials to retailers, including catalogs, digital images and media tear-sheets as well as customized press releases, ads, invitations and flyers tailored particularly for the store (all at no additional charge). I’m available for local newspaper, magazine, radio and television interviews. Designers are used to publicizing. We’re experienced. We can help you promote our Collections and your store. It’s good for both of us. It’s part of the package.
Make it an event! Make it fun. Everyone loves a party. Everyone loves a show. Consider “by invitation only” private events for your top clientele as well as events for the general public. For private events, serve wine and hors d’oeuvres. Send invitations and follow up with phone calls. Let your clients know how special they are by an exclusive invitation to “meet the designer.”
For Trunk Shows, I bring a “trunk” of Collections not normally available at any one store: many selections including one-of-a-kind couture pieces which may be featured in advance in the press to entice. By hosting a designer’s appearance, you create a newsworthy event. You can issue press releases and contact local or even national media to arrange interviews and stories.
“Selling” is transformed into to an exclusive opportunity to meet a recognized expert. I act as a jewelry wardrobe consultant, recommending pieces based on the client’s appearance, style preferences (including wardrobe), lifestyle and their existing jewelry wardrobe collection. Many of my clients are repeat clients. Appointments for individual consultations may be set up in advance. Promote the benefits of complimentary consultations before the show!
Fashion shows create an aura of excitement and elegance, either at your store or at a local country club or society venue, hosted by you. Live models wearing dramatic necklaces and earrings walking the runways make jewelry come alive. Be sure to invite the men as well! I can help you create an exciting professional event. The show may be video-recorded and used for publicity in-store or for the media. Have a DVD of your latest fashion show playing in-store next to the designer Collections.
If you collaborate with a regional designer, play up the appeal of a “local” designer. Press will pick up the local color angle. At a time when customers want to buy American, people want to support designers from their area.
It’s all about the personal touch. It gives jewelry a face, a personal connection. When the designer is regional, the impact is even more direct.
For my couture lines, I offer complimentary customization based on the client’s wishes. Clasps may be changed, necklaces shortened or lengthened, even alternative gems substituted according to taste. Clients love the personal attention, separating the couture experience from mass produced jewelry.
If you’re new to designer jewelry, now’s a perfect time to get in gear. If you’re already experiencing the benefits of offering designer lines, consider adding new lines for fresh appeal. It’s a win-win experience.
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30. April 2009 by admin.
The Luck Factor
A guy walks into a coffee shop. Self-described as a “lucky guy,” he strikes up a conversation with an actor posing as a millionaire. He leaves the shop with a possible business deal–another lucky day! In this actual British experiment about how behavior can influence chance encounters, another subject, a woman, enters the same shop. She doesn’t smile or strike up a conversation with the same “millionaire” actor planted next to her. She leaves the shop empty-handed. Another “blah” day.
Richard Wiseman’s experiment and book The Luck Factor are discussed in February’s Oprah Magazine. According to Wiseman, “Luck is not a magical ability or a gift from the gods….Instead it’s a way of thinking and behaving.” Only about 10 % of life is random. The rest is defined by how you think. “Lucky people create, notice and act upon the chance opportunities in their lives.” Being in “the right place at the right time” is actually about being in the right state of mind.
Some people seem to have all the luck, the magic touch. You know them. They float through life. Perfect job, perfect family, perfect home. When that promotion comes up, you know they’ll get it. Just before they take their dream vacation to celebrate. You also know the other type. “If it weren’t for bad luck, I’d have no luck at all.” Even when opportunity starts to gather around them, you can bet they’ll be some difficulty that arises to thwart success.
Recent research indicates that luck may not be as fickle as we think. To a large extent, you create your own luck, according to Colleen Seifert, PhD in Cognitive Psychology from the University of Michigan. As Louis Pasteur phrased it, “Fortune favors the prepared mind.”
How can you increase your Luck Factor?
Opportunity is everywhere. Relax. Open yourself to alternate ways of achieving your goals. Listen to your intuition. How many times have you not followed up on that lead, asked the follow-up question, accepted that invitation, because “it wouldn’t lead anywhere”? Stop negative thinking. We’ve all heard the stories of the modestly dressed, unassuming customer who enters the jewelry store, almost ignored by staff, making the store’s record purchase. We know the truism “Ask and you shall receive.” Don’t forget the first part. You have to ask.
Visualization techniques are rampant for a reason. It’s been claimed that preparing your mind for a certain behavior increases the chances for success by as much as 50%. Be prepared. Do your homework. As you’re about to meet that special client or attend that special social or business event, go over your facts. Know your stuff. Visualize a successful encounter. Advisors coach politicians to practice debates with sample questions and rehearse speeches for a reason. Practice makes perfect. It sets the right gears in motion.
“It’s not what you know, it’s who you know.” As you increase your network of contacts, you correspondingly increase your chances for success. Grow your business and social networks through online sites such as Facebook, LinkedIn and Twitter.. Join organizations. Attend events. Meet new people. The most successful people have the largest Rolodexes. It increases the odds of having the right contact at the right moment.
Fortune favors the bold, according to the traditional Latin proverb. Why? It’s thinking outside the box. It’s moxie. It’s chutzpah. It’s that audacity to do the unexpected, to go one step further. It inspires others. It takes your breath away. It breeds success.
Sometimes the simplest solutions are the most powerful. Be positive. Be likeable. People like happy people. It’s the essence of charm, of charisma. Nothing succeeds like success.
The ancient Greek philosopher Heraclitus divined, “Man’s character is his fate.” Culturing your good fortune is culturing yourself. They’re intertwined. Success is a self-fulfilling prophecy.
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2. April 2009 by admin.
You’ve already heard the bad. It’s been a long winter of economic meltdowns, full of recession-speak and bleak predictions.
Spring is in the air–finally! It’s our reminder that nature moves in cycles. From every downturn, an upswing emerges. On the other side of winter’s frozen impasse is Spring’s promise of renewed growth. By nature, Spring is a time of hope.
Hope has consequences. Just watch the hair-trigger response of the stock market to daily–even hourly–trends in the news. Depression is a self-perpetuating cycle. Our attitudes affect reality. By focusing on the positive, you help create the reality you desire.
What’s there to be hopeful about? What positive trends can the retailer focus on in the current climate?
In a market glutted for years with abundant inventory and competition, a winnowing is taking place. For years, we’ve seen a proliferation of the retail market from brick-and-mortars to the internet and cable television shopping networks. Now large and small players–from the Fortunoffs to the small independents–are dropping out, leaving a smaller playing field. Redundant, stale inventories are being slashed. The upside for the resilient nimble survivors is a clearer playing field. Consumers, rather than being bombarded with overwhelming offerings, can be exposed to the best options, presented in a more enticing manner. Sometimes less is more. Capture your clients’ attention. With less market overload, they will be more accessible to stimulate and excite.
Business and the economy are returning to a sounder, more stable footing. Rather than business plans and projections based on inflated credit and economic bubbles, common sense is now returning to the fore. Solid, secure growth based on realistic predictions is better in the long run. Slow and steady saves the day.
Now is a great time to restructure. Clean house, getting rid of stale inventory and non-productive lines. Reorganize your store, eliminating old displays and offering fresh arrangements. How about updating your store’s image? Have you toyed with innovative options? Consult with your staff. Introduce new lines. You’ll attract your loyal clients’ attention and capture a new customer base. Investing in yourself breeds confidence. It shows you’re here to stay.
In times of uncertainty, people are drawn to lasting, durable value. Gold reigns. Now’s the time to market jewelry of heirloom value, emphasizing that gold, platinum, diamonds and precious gems are heirloom investments. Bridal traditionally does well, even in lean times. Real, lasting quality has heightened appeal in a fluctuating world.
Change is in the air. The world is going green. Ride the wave by greening your business. Offer environmentally conscious jewelry, packaging and displays, including ethically sourced metals and gems, such as recycled gold. Offer jewelry with inspiring messages. There’s a new social consciousness. People are pulling for one another. Offer Collections with some of the proceeds donated to charity. Host your own charity events. Get involved. People will notice. You’ll inspire others in your community. Positivity breeds success.
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24. February 2009 by admin.
Change and Hope
Just flip on the news. We’re bombarded daily with reports of major banks and businesses reorganizing and filing for Chapter 11. The new Administration unfurls a continuous repertory of stimulus bills, TARP and mortgage restructuring plans. Not only is the road ahead changing. So is the very map, the landscape it’s embedded in. We’re in a brave new world and we’re not done yet.
The Chinese symbol for crisis also signifies opportunity, a fact oft-quoted in recent days. Change means new possibilities, new doors opening. Those that are alert will see them and act. This is the power of positive thinking. By seeing the glass half full, you focus on developing opportunities that lead the way to growth and success.
As always, the strongest will prevail. But strongest doesn’t mean biggest. It means most adaptable, intelligent, forward-thinking. As sign-posts along the way, some Prime Directives to keep in mind:
· Lean and Mean
Now is the time to clear out the cobwebs. Liquidate lanquid inventory. With gold over $1000 an ounce, it’s time to cash in on any scrap. Some retailers are enjoying a healthy new sideline of buying customer scrap and estate jewelry, which may be offered as a customer service.
Evaluate your sales staff. Who’s performing and who’s not? We have to be compassionate, especially in trying times. But consider added incentives for exceptional merit, even offering profit-sharing, a “piece of the pie” for outstanding performance. Have a brain-storming session. Listen to your staff. With fresh eyes, you may get some great creative suggestions.
Re-contact your loyal customer base. They are worth gold. Culture your top clients, reminding them of birthdays, anniversaries and special occasions. Reward them with special incentives or “by invitation only” events including private Trunk Shows.
· Re-Think Strategy
Take into account changing customer attitudes as well as new governmental tax policies and incentives. Conspicuous consumption is out. People are loathe to be seen flaunting extravagant wealth in a time of need. But there is always an appreciation for enduring quality and lasting value. Gold and diamonds may project a stability at least as great as fluctuating currencies and stock portfolios! Jewelry, precious metals and gems are as old as humankind. Presenting them as a wise investment of enduring value fits in with the current calls of a return to common sense and pragmatism.
Promoting small businesses, stimulating the economy and creating jobs are national buzzwords. Counteract customer reticence by promoting awareness that buying is a win-win situation. By stimulating the economy, it resets the cycle from stagnation to growth. It helps our economy. It’s good for all of us.
· New Opportunities
Buy American. It’s a hot selling point. Promote products Made in America, even highlighting local and regional designers and artists. It’s easy for customers to see clearly how this helps the economy.
Link In. Are you taking full advantage of the hottest new trends? Blogs, enewsletters, and networking sites such as Facebook, LinkedIn and Twitter allow you to promote your brand as well as keep in touch with your expanding client base in a cost-effective manner. It’s the wave of the future.
Give Back. Charities are enjoying a surge in popularity, a sign of the times. “Gift bags” full of expensive goodies to Hollywood celebrities at major events are being replaced by requests for their donations to favorite organizations. Consider designer pieces promoting a portion of the proceeds donated to non-profits. Medallions with positive messages such as “hope”, “dream” and “believe” will strike a chord. We’re all in this together, and hope is our future.
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25. January 2009 by admin.
Four men–three disguised as long blond-haired women with sunglasses–requested entry last December 4 to Harry Winston’s Jewelers on super-posh Avenue Montaigne in Paris. As they were buzzed in, they pulled out a hand grenade and a .357 Magnum and started smashing the glass display cases. Fifteen minutes later they made a clean getaway in a waiting car with sacks of huge diamonds, emeralds and rubies worth a cool $115 million.
In a bizarre life-imitating-art scenario, Interpol has dubbed the suspected thieves the “Pink Panthers,” referencing the famed phantom bandit of movie fame pursued by the comically jinxed Inspector Clouseau. The Pink Panthers are believed to be an international group, about 200 strong, of highly professional, meticulous and daring thieves. Hailing from Serbia, they are said to be responsible for high-profile heists worth more than $132 million at luxury “soft” targets in Dubai, Switzerland, Japan, Germany, Spain and Monaco since 2003. Dusko Poznan and Goran Drazic, purported members of the group, were arrested before the Dec. 4 robbery. Lloyds of London, Winston’s insurers, have issued a $1 million reward for information leading to the recovery of the jewels.
This was not the Pink Panthers’ first heist. In Dubai last year, members of the group allegedly rammed through Graff’s in two Audis, grasping $3.4 million in diamonds and exiting in the same cars. The event, captured on video, became a YouTube favorite with over 200,000 hits. In Graff’s Tokyo, the Pink Panthers hit previously in 2004. In three minutes, they made off with $38 million in rare yellow diamonds, including a 125 carat necklace, the Comtesse de Vendome, worth $31.5 million, also captured on video.
The modus operandi of the Pink Panthers is “brazen, very fast, very well-organized,” according to police sources. They characteristically case the targeted venues for a week or more, even learning the salespersons’ names.
The bane of jewelers, the jewel thief, at times may achieve a colorful notoriety, earning a “treasured” spot in the pantheon of scoundrels. Movies glorify their cunning, daring and high-profile glamorous targets. Combining danger, fabulous jewels and meticulous execution, their heists are the stuff of legend. In a Bonnie and Clyde scenario, the thieves may become celebrated, even glorified. Boban Stojkovic, a member of the Pink Panthers cadre sentenced before the December 4 robbery, is described by his attorney as a “gentleman bandit,” “extremely polite and nice.”
“Because that’s where the money is,” Willy Sutton, the thief, famously replied to the query “Why do you rob banks?” Jewelry stores are similarly natural targets. Jewelers take note. You can never be too careful. Although the Pink Panthers target the highest echelon of international targets, stores profiling coveted luxury items are always at risk. Closer to home, in Palm Beach this January Lee Havens Fine Jewelry on Worth Avenue was victimized, the robber reportedly escaping with $4 million in merchandise.
The December Harry Winston theft was the second burglary at the Paris store in a year. The previous year’s heist netted over $13 million in jewels. The beleaguered jeweler seems to have adopted a note of caution. Immediately after the current robbery, passers-by the celebrated shop, now closed with shutters, viewed in its famed display case, rather than jewels, a large photograph of the missing pieces.
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2. January 2009 by admin.
Jeweler’s Profile Part II
Passion and Poetry
“One must speak clearly about clear stones…about ancestral rock…about the emerald’s green fire.” Ron Ringsrud’s passion for the beauty of emeralds is infectious as he quotes Nobel Laureate Pablo Neruda, one of his favorite poets. Ron’s soon-to-be-released Emeralds: A Passionate Guide (available late March through amazon.com) is a labor of love reflecting this passion. It will offer gems of knowledge “known only to connoisseurs and gemologists” as well as “the human side of the emerald world…revealed with all its romance, history, secrets and joy.”
One of today’s premier emerald dealers, Ron has just been elected to the Board of the American Gem Trade Association. “I’ve been a member for 15 years and want to participate more. Many good people are involved and we can bring a lot of progress.”
A high priority on his agenda for progress is the promotion of the Fair Trade Movement. The blockbuster film “Blood Diamond” drew mainstream attention to Africa’s “conflict diamonds”—diamonds used to finance violent, corrupt regimes while exploiting dirt-poor artesanal (small-scale) miners. Today’s Fair Trade Movement reflects the burgeoning awareness of the need for world-wide transparent, ethical sources of production, including social justice—fair wages and a decent standard of living for the artesanal miner.
Regarding mining conditions, “Colombia at its worst is better than Africa at its best,” according to Ron. “The people are poor, but not starving.” The new breed of Colombian mine owners, often young MBAs, reflect a new social consciousness. “They are arranging buses to take the miners’ children to school.” Colombia has come a long way since the seedy “Wild West” days of the early 1980s. “2009 is to be the ‘Big Year of Pride and Progress.’”
Ron’s love for his adopted second “home away from home” is obvious. “Colombians are a spiritual people—poets—the warmest, nicest people you’ll ever meet. The stereotype of the Colombian drug lord actually reflects only the tiniest fraction of the population.”
Ron’s passion for the Land of Emeralds and its people is reflected in his strong commitment to local charities. Two of his favorites are a rehabilitation center for disadvantaged youth founded by a Catholic priest and The Theater Workshop in Bogota, which trains homeless “street people” for employment in the theater arts. “My local charity activities have helped me gain a good reputation in the region.”
A cutting-edge development in the new environmental awareness is the idea of “giving back to the land.” In this view, “the Earth is seen not as a resource for consumption, but as a natural, living thing that we should have stewardship over and respect for.” Giving back to the land is an act of appreciation, an offering of thanks. Starting in 2000, Ron participated in a ceremony of emerald industry members in Bogota, sprinkling emeralds onto a tray of earth. Symbolically a gift was being offered back to the Earth for the immense treasures it provides. The experience was so positive, it has been repeated regularly and even expanded to the Colored Gem Show in Tucson AZ.
“Offering back to the Earth is based in ancient traditions,” Ron reveals. Shinto priests in Japan would pray for the souls of the oysters destroyed in the pearl harvest. In Colombia, the native Cogi Indians of the Sierra Nevada believe we suffer sickness and pollution because we neglect to give back to the land. This newest wave of environmental awareness is a revival of ancient cultural roots. Offering thanks completes the circle.
Neruda’s poem “The Emerald,” inspired by a visit to the Colombian Muzo mine, is quoted on Ron’s website (http://emeraldmine.com). “When everything was high…there waited the cold emerald…it was a vigilant eye at heaven’s center…the emerald that looked on…as if it were an ocean-eye…drop of God….” Expressing the awesome beauty of emeralds, the soul of a poet reflects the wisdom of the ages.
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29. November 2008 by admin.
Jeweler’s Profile
Ron Ringsrud— Premier Emerald Dealer
Picture the scene—like something from the old Wild West. As you enter the rough and tumble gem mine in Colombia in the 1980s “every gem mine owner had on his desk a bottle of whiskey, a gun, and a prostitute behind him,” according to Ron Ringsrud, who started visiting during that era. “Today, the mine owner is most likely a young MBA, drinking yogurt, meekly nodding ‘Yes, dear’ to his wife on the phone.”
Rich Colombia is indeed a land of contrasts, ranging from magnificent emeralds—the best in the world—breathtaking scenery and a warm, spiritual people to the seedy underbelly of drug trafficking and cartels.
Ron, recently elected to the Board of Directors of the American Gem Trade Association (AGTA), and with his new book Emeralds: A Passionate Guide about to launch, shared in this exclusive interview how his love affair with this colorful country began.
“I had spent some time living in Colombia right after college and knew a bit of Spanish. Returning home to LA, in need of a job, I serendipitously responded to newspaper ad for a warehouse box mover at GIA (Gemological Institute of America). After three months, they told me I could take GIA courses for free. As I quickly progressed through the courses, I started getting better jobs there—selling tweezers and microscopes.” Soon, Ron had a Graduate Gemologist (GG) degree.
When Ron noticed in a magazine that Colombia had the best emeralds in the world, a spark ignited. “I already had the connections.” His first gem-buying expedition to Colombia was an adventure. “It was 11 hours by jeep from Bogata to the mining district. The hotels had more stray dogs than humans.”
“The mines are very shrouded and closed. The locals want to know who you are, who you know, who you’re with. You don’t enter without their invitation.” Luckily, the locals warmed to this gringo who knew their language and was genuinely interested in developing relationships. He wasn’t there just to buy and leave. He got a few small stones. And so it began.
“The colored stones business is great. Each colored stone has immeasurable qualities—fire, life, transparency and play of color—that make it unique. Arriving at the price of a colored stone requires old-fashioned, low-tech, face-to-face negotiation. This keeps the business lively, charming and very human.”
“The main mines are Muzo, Cosquez, and the newest, La Pita—since 1999 the rising star. La Pita has yielded $100 million a year for five years, suddenly making rich and powerful men out of young miners and investors. New visionary, clear-headed business leaders are emerging, with greater environmental and social awareness.” Ron has been selling at the annual Tucson show for years (Ronald Ringsrud Co., http://emeraldmine.com). His business took a quantum leap in 1986 when he published his first article in Gems & Gemology magazine on the Cosquez mine. Suddenly he had an established reputation, a different level of clientele. Today a leading industry expert, Ron’s most recent article in Gems & Gemology describes the “gota de aceite” or “butterfly-wing” emerald, a highly prized specimen only found in Colombia.
As a young, single entrepreneur, Ron enjoyed the risks of exploring an edgy, emerging market. Today, as a premier emerald dealer, Ron sells to top dealers and jewelers and provides specimens for collectors. His most expensive sale was a 12 carat stone for $120,000. He sometimes takes his wife Linda and 13 year-old twins to visit this land he loves. “I’m proud to be able to support my wife, a full-time mom, and boys from my profession.”
Next month: Jeweler’s Profile Part II: Passion and Poetry—Ron Ringrud’s World of Emeralds: future agenda for AGTA, upcoming book launch, Fair Trade Movement, charity benefits, giving back to the Earth, and more!
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9. November 2008 by admin.
The “R” Word. Leveraging your Options.
Quick. What’s on your mind? With political rhetoric reaching election-day fever pitch, news headlines trumpeting Wall Street bailouts and mortgage market meltdowns and the peak-selling Holiday season just around the corner, it’s pretty safe to say it’s the economy. Will sales be strong this season? How are my clients being affected? Should I shift my sales strategy? Alter my inventory?
We’ve been through economic bubbles before. The Millennial dot-com boom and burst presaged this current housing-based bubble, which has proved to be wider-reaching and more intractable. The billion dollar question is—when will the bottom be reached and the recovery begin? Because we all know that the economy moves in cycles. Even the Great Depression of the 30s was followed by a period of full recovery and greater growth.
How we approach the current crisis depends on how we view it. It’s the old glass half empty or glass half full question. Donald Trump was asked what advice he would give to ordinary folk during the current crisis. Most advisers counsel keeping your money as safe as possible—buying Treasury Bills or similar safe instruments. Trump’s advice? Buy a house. It’s a great time to buy a house. And, of course, it is. Housing prices are near rock-bottom, mortgage interest rates are low and it’s a buyer’s market. A perfect time to invest in a house that will increase in value as the market recovers. The moral? There are always opportunities. An alert, resourceful mind will see the glass half full, the opportunities inherent in available in a complex, shifting situation.
What should the jewelry entrepreneur do in the current economic climate? Conventional wisdom might seem to dictate to “play it safe”: reduce inventory, offer lower priced options with sales incentives, wait it out. But is this what the most successful will do? Consider a fresh approach.
Instead of focusing on less expensive merchandise, consider promoting your high-end options, including designer jewelry. Your upscale clientele may not be worried about their mortgages in the same way that customers living paycheck-to-paycheck are. Although their preferred portfolios are undoubtedly affected by stock market gyrations, if they are wisely invested and in it for the long run, they may well have the confidence that these portfolios will continue their long-term growth over the decades.
It’s a truism that people turn to gold in times of economic instability. As the price of gold has skyrocketed, many have looked for cheaper alternatives—silver, lower-karat gold and alternative metals. But a quick review of the television shopping networks reveals strong-selling pure gold, including high-karat gold, Italian and designer pieces. Gold’s increasing price has had the effect of making gold even more desirable. The savvy current marketer will emphasize the lasting value of pure gold, precious gems and fine heirloom jewelry in a time of economic instability. Diamonds are forever. People are still getting engaged, having birthdays and anniversaries, buying holiday gifts. As an alternative to the newest electronic gadget that will quickly be outdated, suggest to your clients heirloom-quality tangible investments.
You will hear consumer fears that because of economic uncertainty, they are “playing it safe,” not spending—even that this is what’s currently appropriate. But the proposed economic stimulus packages reveal the importance of keeping the economy liquid and growing, rather than “pulling back.” It’s consumer confidence that spurs the economic growth that will pull us out of a Recession. Wise consumer investments help the economy recover and grow.
What’s responsible for the current crisis? A corrupt culture of greed, famously echoed in the Wall Street Gordon Gekko’s “Greed is good,” has been a factor. Greed is a corruption of growth. But growth is good. We still believe in the American Dream. Growth and progress are its fuel.
Investing in fine jewelry of lasting value offers a haven in the current storm. That inherited heirloom platinum diamond ring your client wears may well have weathered last century’s Depression and still be going strong, increasing in value into the current millennium. Today’s successful entrepreneur will leverage options creatively. Wise growth opportunities are always available to those who see the glass half full.
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