Posted by Sales SimplexDiam on Thu, Mar 31, 2011 @ 10:30 AM
SimplexDiam announced today the purchase of the entire residual inventory from a Midwest bridal wholesaler. The sale included more than 3,000 jewelry pieces at over $7,000,000 retail. SimplexDiam won 100% of all the lots despite bids from various competing liquidators.
The residual inventory auction is well timed for the upcoming bridal season in the United States. Retailers are bracing for a very difficult purchasing environment in ensuing months. Gold has repeatedly crossed (and presently remains) above the 1,400/oz threshold and diamond prices have advanced past pre-recession levels in many categories. It will look increasingly difficult if not impossible to retain last year's price points in many jewelry categories unless retailers make opportunistic purchases.
This purchase combined with the aggressively priced closeout diamonds that SimplexDiam is bringing to the Chicago Smart Show this weekend (April 2nd - 4th, 2011) and the JIS Miami show the following weekend (April 9th - 11th, 2011) will be a great opportunity for its customers. SimplexDiam brought the Christian Bernard liquidation to the Chicago show 2 years ago.
Posted by Sales SimplexDiam on Wed, Jul 21, 2010 @ 09:00 AM
Fresh! Gems TV Inventory Just Purchased!
Brands from Christian Bernard: Hearts On Fire & Many More!
STUDS Blowout! Be prepared for the season!
- Rounds, 0.20 ctw; $20, SS+14kt
- Rounds, 0.50 ctw; $250-$300; 14kt; I-J SI2-VS2
- Princess, 0.78 ctw; $450; I-J SI3
- Princess, 1.25 ctw; $600; I-J SI3
More Brands At Unbelievable Prices
- Henry Dunay
- Yurman
- Hardy
- Hearts on Fire
- Gucci
- Roberto Coin
- Gregg Ruth
- Peter Storm
- Kurt Wayne
Simplex Also Won: Henry Dunay, BBB's Estate Collection, Whitehall, Colibri, Christian Bernard, Fortunoff, IDG Jewelers, Downey Creations
LIMITED QUANTITIES WHILE SUPPLIES LAST
This website is for informative purposes only and SimplexDiam Inc. does not guarantee, or make any warranties to the accuracy of the information. All carat weights are approximate, pricing is subject to change, and quantities are limited. Any names or trademarks used besides SimplexDiam Inc, SDX, are not the property of SimplexDiam Inc. Brand names used are for new or estate pieces that carry the correct matching trademarks. Items have been purchased legitimately from the owner of the brand, or from customers of the owner of the brand. All items are new, or refurbished, and do not come with chains. We do our best to make sure that we represent things accurately, please forgive any mistakes.
Posted by Sales SimplexDiam on Sat, May 22, 2010 @ 09:00 AM
It's that time of year! We must sell more to buy more at auctions. All items in stock marked down to sell. Visit our website for a sneak peak at our JCK 2010 Flyer.
SimplexDiam won the following jewelry closeout inventories: IDG Jewelers, Downey Creations, Henry Dunay, Whitehall, Colibri, etc. These inventories and much more available at our Booth.
Brands available: Peter Storm, Kurt Wayne, Gregg Ruth, Krementz, Shiman Religious, David Yurman, Caviar By Lagos, Roberto Coin, Stephen Dweck, Le Vian, Henry Dunay, John Hardy, Hidalgo, Mikimoto, Gucci, Honora, Kristina, Gruppo il Gioiell, Hammerman, Diana Classic, Aurea, Takohi, Leslie Greene, Benchmark, Vera Wang.
Have excess inventory? Loose? Scrap? Vintage Pieces? Estate Pieces? We will be buying at the JCK Show! Turn your inventory into cash and buy more.
Call us at: +1 (800) 233-1155, Contact Us, Or See Us at the Show.
Posted by Shail Madhvani on Mon, Dec 28, 2009 @ 10:51 AM
Every day it seems we hear about another jewelry store closing or in bankruptcy. Jules R. Schubot in Troy, Michigan; Standt’s in Muncie, Indiana; Carrol’s Jewelers in Coral Gables, Florida; and Mednikow’s branch in Atlanta are just a few of the big-name independents recently announcing they are closing. Leo Robbins & Sons in Philadelphia is being forced into bankruptcy. And the Finlay going out of business sale is going on across the country.
Given the difficult year for retailers, more bankruptcies and other types of restructuring are likely in the months ahead. And when retailers go under, banks and other creditors end up holding the jewelry inventory. What they want, of course, is cash instead.
You know what often happens next: the big going-out-of-business-sale posters go up and big discounts are advertised. Even if the discounts aren’t that large, the perception in the market is that jewelry is cheap. This tarnishes the image of our product and also trains the consumer to buy only at sales.
But there’s another possibility. If, instead of that liquidation blow-out sale, a closeout specialist goes in and buys the inventory of the distressed retailer, the market in that town stays healthy. There isn’t the same amount of deep-discount advertising and there is less price pressure in the market.
And the liquidation specialist now offers the deeply discounted merchandise to other retailers. They can pass along the great values to their customers.
The healthy retailer stays healthy, with less competition in the market. The customer still gets to buy at attractive prices from a retailer who will be there to take care of him in the years to come. Everybody wins. That’s why, in times like these, the liquidation specialist is the retailer’s best friend.
Posted by Shail Madhvani on Thu, Apr 02, 2009 @ 10:55 AM
THE PROBLEM:
The true value of diamonds has been dropping for months. Everyone hears about the economy tanking, the mortgage crisis, imminent auto manufacturer bankruptcies, factories closing down, and more.
Then why when you call suppliers for a stone, do they only give you a nominal discount?
It’s not so simple to explain what I think happened, but it is important to understand the situation. So here goes…
The crisis led to the greatest single drop in the demand for diamonds in decades. Supplies hit record highs. Factories stopped cutting. Suppliers sold off their most attractive stones quickly to generate cash to run their businesses. Without the replenishment of new goods, they got left with off-sizes, odd cuts, and unattractive qualities.
This led to very low inventories of the most attractive stones, but very high inventories of the ones that sell slowly or not at all.
Most calls retailers make are for the more attractive product and that’s why they give a price that isn’t so very exciting.
THE PLAN:
When you call for a diamond, don’t ask for the specific stone you want immediately. Ask your supplier what they are trying to get rid of. Let them send you a list. Search Rapnet, Blue Nile, IDEX and every other resource you can to get a reading on each stone. Then fight, fight, fight.
Now here’s the hard part…I know it’s hard because I do it with retailers all day long. And eventually they thank me for it.
You have to sell your customer on what you can get and not on what he or she wants. Explain to them that the best way to get the biggest, cleanest, most colorless stone is to keep an open mind. That instead of selling them an impulse stone, you want to sell them an investment stone. Save them money, give them a better stone, and make some extra for yourself. Everybody wins and you have a customer for life.
Email me: neel@simplexdiam.com I’d love to hear your opinion.
The rest of my info’s on our site.
Warmest, N
Posted by Shail Madhvani on Wed, Mar 04, 2009 @ 11:02 AM
Finally we have a week for Jewelry in New York. Mayor Bloomberg will be issuing a proclamation that April 20-26th will be considered “Sparkle Week.” Department stores, jewelry retailers, and others are expected to promote aggressively and help build this into a major event.
Posted by Shail Madhvani on Wed, Mar 04, 2009 @ 11:00 AM
Robbins brothers filed chapter 11 today. It is expected that they will be split into two parts, each sold off. Consensus Advisers will be financial adviser to the creditors. Another one down. There has to be a record in there somewhere.
Posted by Shail Madhvani on Mon, Feb 23, 2009 @ 10:59 AM
Ok so this is our chance to boast.
After we won the Friedman’s deal: Click Here
We went on to win the Whitehall deal: Click Here
Wish us luck. We’re working on another closeout jewelry deal.
We are the asset recovery specialists. We work on straight purchases of excess inventory and we also manage GOB and Event sales in the fine jewelry industry.
Call us or email us:
212 883 0888 Ext 1004 (Neel)
sales@simplexdiam.com
Posted by Shail Madhvani on Wed, Feb 11, 2009 @ 10:57 AM
I’ve started hearing good things again. As some customers are seeing more and more difficult times, others have turned the corner. Today, the call of the day was from a customer in the South. In the last ten days he sold ten stones over 1 carat. That’s impressive.
Another customer forecasts growth this year, and yet another might double his sales. Internet customers are also growing leaps and bounds while others are failing.
I am trying to gauge what this comes down to. I think at the end of the day its price. Each and every one of these customers has one thing in common: they buy the product that I wish I’d priced a bit more expensive. They buy the pieces that I wonder why nobody has seen the value of. They buy the pieces that I make mistakes on. Yes SimplexDiam Inc. makes mistakes.
So the trick is to sit, and look, and work the inventory your vendors show you to find the true values, the perceived values, and the diamonds in the rough…I think.
If you’ve not seen our press release it is available below or at PRWeb.com
Enjoy.
N
Posted by Shail Madhvani on Thu, Feb 05, 2009 @ 10:56 AM
I was sitting in the train a few days back listening in on a conversation. Riders beware, this is a regular event.
One passenger said to another passenger, “I’m embarassed to be carrying this phone, it’s two years old and look at it! Just look at it! I want a new one. I need one so my friends stop making fun of me.”
Could that conversation ever happen about diamond jewelry? It’s the same price point on average for fashion jewelry and for a phone – $50-$500. A phone lasts for less time and has less intrinsic value although it does have the benefit of utility. Is this an unfair comparison?
The average length of ownership for jewelry? Over 25 years? Generations? There is no way to gauge. A piece of diamond jewelry doesn’t fall apart often for decades. It is not a replacement product…yet.
As an industry, what we need to understand is that there are only two rational marketing structures for a jeweler:
A. Jewelry as an investment
B. Jewelry as an accessory
$4,000 to $10,000 wholesale diamond investments, although weak, are still selling at retail for between $5,999 and $12,000, and have reasonable demand when at the right value. This is what I call the “investment” product.
During this recession, Simplex is having difficulty maintaining its stock of sub $100 product. To be clear, we never have enough of it. $21 silver circles, $40 dollar bracelets, and $25 sterling russian eggs are hot tickets. The $200 to $500 sell or $399 to $999 retail, on the other hand, is in trouble. This is what I categorize as the accessory business.
How does a retailer reconcile the fact that they need to sell impulse, “accessory,” items alongside planned “investment,” items?
The investment item branding should communicate to a customer: “This will last forever. It is a solid investment that retains value and even increases in value. It represents love and committment and will be passed down through the generations in my family.”
The accessory item branding should communicate to a customer: “This defines who I am right now. It’s beautiful, and it shows people I am powerful. Men will find me more attractive because of it and women will envy me. As importantly, I love it, and I want it because I deserve it.”
The investment store brand should be reflected with marble, copper, oak and mahogany. Salespeople should be sharply dressed, refined, and wear Ascot or Aquescutim.
The next, the accessory brand should reflect the whims of the times. All white, sharp lines, sexy young salespeople, alongside either refinement or trendiness depending on the price point. The salespeople should wear Dolce & Gabbana, Armani, or Fendi.
The lighting should be bright in one store with heavy yellows whereas in the other it should be dim with reds and blues. One store should have classical music playing whereas the next should have jazz, blues, rock, or indy bands. One should have friendly, yet refined service, whereas in the other the service should be aloof or oppositely extremely friendly and emotive. One should carry timeless inventory adding new styles with control and care whereas the next should turnover styles at least three times a year maintaining a similar feeling but a transformed look. (Of course there should be mainstays but 50% of the inventory at least should be updated regularly.)
Perhaps the one company exempt from this typefied model would be Tiffany’s. Maybe it’s the movie that is its namesake, maybe the strong management, but eventually, the movie will be old and boring to a new generation and the company will have to change. Just as the British tailors lost their control and were overtaken by the French and thereafter the French by the Italians, and then the Italians by the French, so too will the jewelry industry need brands and have brands that win and lose and win again.
The question remains…how do we reconcile the two parts of one industry sold mostly in the same store. How can refined investments live peaceably with trendy accessories?