The truth about jewelry trade shows is that Jewelry Trade shows are great places to get good prices on jewelry, BUT… you have to know what you are doing. There is a distinction between International Jewelry Trades shows as the one our company recently attended in Las Vegas in June and local jewelry trade shows in Honolulu.
International Jewelry Trade Shows is a huge event. There are over 2500 booths from 22 countries participating in this event. Some companies have a booth that is comprised of as much as twenty booths put together. It is so huge that if you were to see every booth you could only spent about a minute and a half before the five days of the show was over. In order to attend as a buyer, there are strict requirements that have to be met before being allowed to attend. It is strictly entrance to legitimate trade only. The prices are truly wholesale. Purchases are usually in bulk for resale not individual purchases for individual needs.
On the other hand, the local trade show may have a hundred or so booths at most and entrance, even though a business license is required, it is not hard to get in. Most of the vendors are not from Hawaii. Prices are generally low retail and if you were a good negotiator, you may be able to get a high wholesale price. Most of the jewelry sold are for personal purposes. The sales are generally not volume purchases for resale.
In each of these trade show instances the buyer has to be knowledgeable in product they may be considering purchasing if they are to get a good price. In the International show the buyers are store owners and have the experience and knowledge of the industry to make the better decisions. The usual buyers in the local show are not in the jewelry industry and may not have sufficient knowledge of the product they are considering to make a proper decision.
Over the years we have been witness to a number of problems brought to us by the consumers themselves. We are not singling out trade shows for these problems exist in every industry and at all levels. Any of these jewelry problems can originate in any jewelry store or from anyone selling jewelry including Ebay or Craigslist. Key words are “buyer beware” Because most of the vendors at the local trade show do not reside in Hawaii and recourse may be difficult. In some of these examples exchanges and refunds were given, some made it very difficult to even contact the vendor and others were actually refused any recourse. The following are some of the examples of the problems that we have seen.
1. A 2 ct diamond was bought that had laser drill holes to enhance the appearance of the clarity grade of the diamond. During the period it was bought, there was a law stated by the Federal Trade Commission that the enhancement technique has to be disclosed at the point of the sale. It was not. After we pointed out this fact the customer called the seller who then offered a $700 refund if they were to keep the diamond rather than exchanging it or get back what they paid.
2. A 1 ct Princess cut diamond was purchased as an H color diamond. It was then left for resizing. When they returned to pick up their ring the consumer noticed that the diamond looked darker and inquired about the change in color. The company explained that to resize the ring they had to use heat and that the heat changed the color but just temporarily. This is not true, diamonds are a very heat tolerant material and the color would not have changed unless they burned it. It was simply not the same diamond. They complained and got an exchange that was a little better but not an H. With persistent pressure they finally got a refund to be able to purchase elsewhere.
3. A customer brought in a setting bought at the trade show and wanted their center diamond set. Upon inspection there we found four chipped diamonds the worst was one that was missing the whole corner of the diamond, definitely visible to the naked eye. When it was made apparent to the customer under the microscope they called the company to see to see if they had any recourse. They were told that they could send it back and it will be repaired. It was sent and received back a coupled of weeks later. When the ring was brought back for mounting we noticed that nothing was done to replace the chipped diamonds. This was reverified under the microscope. Consequent communications with the company was met with uncooperative responses saying that they saw no need for repair. They actually said that the customer was stupid and did not know what she was looking at. No recourse was forthcoming. The customer had to have the diamonds replaced at an additional cost, not the deal it had appeared to be upon the initial purchase.
4. We had customers that had made a purchase of diamonds rings at the jewelry trade show and the prices were good, pretty close to a wholesale price. They were in to ask for an appraisal so they could get them insured. We referred them to a gemologist who after inspecting the pieces refused to do a written appraisal for them. When we asked why he refused he said that the pieces in his opinion were poorly made, that they were too light weight, the diamonds poorly set and if the pieces were worn for any length of time it would soon fall apart because they had cut all the corners to make it inexpensive. He said he did not want to do the appraisal because it would support the production of shoddily manufactured jewelry and it would be unfair to the insurance company for they would have to bear the brunt of the burden by having to pay for repair or replacement.
These examples, as we mentioned earlier, are problems that are not exclusive to the trade shows. The best defense for anyone is to be more knowledgeable in the item you are purchasing. Learn as much of the product that you are interested in buying. There is a lot of information on the internet and you can call and ask experts to explain some of the more difficult things to you. Try to get to know the people you are dealing with. Get confirmation of recourse before completing the transaction, such as guarantees of exchanges or refunds if you are not satisfied. If you have done sufficient research you may be getting the deal you had been expecting. Knowledge gives you power.
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