We, as vendors, have to make the purchasing process as simple as
can be....limiting the options can be detremental to the bottom
line...
Pat, for me, taking Amex was detrimental to my bottom line. I sell
wholesale to galleries around the country via the wholesale shows
like BMAC. I paid and paid a monthly fee for over a decade for the
opportunity to take Amex. Most galleries chose to give me Visa or
MC. The occasional Amex card I got was such a pain. The effective
percentage was ridiculous. None of these galleries now complain that
I don’t take Amex.
Even when I did retail shows, I could go years before being offered
an Amex card and they always switched to the others if I asked. This
was after the sale was made, so it didn’t effect the amount of the
sale.
If I were selling $k+ pieces, I’d be singing a different tune.
Personally, and professionally, I do not discriminate against any
form of payment, WITH the excpetion of lima beans.
So what’s the matter with lima beans??? With today’s rising food
costs, lima beans could be a good form of payment. Hmmm, let’s see
one 18k gold opal pendant=4000 pounds of lima beans. Ok, I’m going to
have to consider the storage issues on this one. I don’t think lima
beans last that long. Ok, I could make up a 10,000 lb batch of
succotash. That should use them up. Now I just have to find a lot of
people who like succotash. A whole lot of people. A really, really
large amount of people. {-;
Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
I have met very, very few jewelers who were doing large numbers
that didn't have AMEX as a card, and also had 2 choices of ring box
quality.
I only use one ring box. Whether it costs them $500 or $5000 I think
the presentation should be the same. Of course, I pretty much don’t
have any rings for under $500 so I don’t have to worry about giving
away my high quality box with an inexpensive ring.
Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
for me, taking Amex was detrimental to my bottom line. I sell
wholesale to galleries around the country via the wholesale shows
like BMAC
I don’t think most of the responders on this were talking about
wholesale markets. I think your margins are so much lower that taking
it as a wholesaler is probably not profitable. However many, many
years ago when I did wholesale we didn’t take any credit cards. That
whole concept is relatively (well remember I’m pretty old now) new.
Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
Having grown up in the jewelry trade & a business owner/ goldsmith
for 26 years, I’ve had a little experience with regards to accepting
plastic. Sams club, Costco, and Quickbooks (check out David Gellers
website) are 3 processors that come to mind. Over the years, I’ve
read good & bad right here on Orchid. I think that just goes with
the territory. I have a good friend who got entangled with
“authorize.net” (known as a gateway processor in the trade). It was
very ugly. I don’t recommend “gateways”.
I currently use PayPal, and, frankly wouldn’t consider anyone else.
I use the “Virtual Terminal” for $30 per/mo. I don’t have to have
any agreements with all the different CC companies…which can
really add up, as was previously noted in the posts about Amex. I
also use PayPal for my website shopping cart. PayPal uses a new
security feature in their e-mail communications with you the
customer (business or not) called “Iconix”. Basically, when you get
an e-mail from PayPal, Amazon, Chase & many other businesses, you
get a little icon next to the sender in your e-mail indicating that
the e-mail is indeed “authentic” & not a “phishing” e-mail. The
level of security is impressive. Yeah…the rates aren’t the best.
But in this day and age, I’m willing to give up a few dollars here &
there to make sure my customers personal isn’t
compromised. PayPal also has a little security device that can be
ordered for $5. You simply “sync” it up w/ your Mac or PC. It
creates a security code (an additional level of security when you
log in somewhere) that changes every 30 seconds. You use it when you
make a PayPal purchase online.
There will always be countries & individuals that will always seek
to hack in to business & private citizens records. It’s good to know
that there are companies who understand the threats we all face when
we give up our personal info. No…I don’t work for PayPal, I’m just
a very satisfied customer. Check it out @ www.paypal.com.
I only use one ring box. Whether it costs them $500 or $5000 I
think the presentation should be the same.
Reminds me of my first trip to NYC, many years ago. I went to
Tiffany’s, wondering if I could get something relatively inexpensive
for my wife. The sympathetic saleslady said that no matter what I
bought, I would get a genuine Tiffany box
Hi all. Just got back from my biggest show of the year, and my first
as a non-Amex-taker. The verdict? No problemo! Had a couple offered,
but I joked around a little, and they offered another card as they
were laughing. And my life is now a little bit simpler. And the show
was better than expected!
