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Closing and liquidating my jewelry store


#1

Hello Jon,

My name is also Jon. I’m curious how you are making out with your store closing. I’m in the same position now and I’m trying to decide whether to go with a company that does this for you or doing it myself. Any feedback would be greatly appreciated. I’ve been open since 1977 just north of Phila in the suburbs. We have a full service shop and do everything except in house casting, be do hand made pieced, CAD/CAM, laser welding, enameling, setting and servicing a few other retail jewelers and anything else as it may pertain to jewelry making. Waiting your response.

Thank you
Jon B. D.


#2

Not sure where you saw that i’m closing my store. I just bought from my
father…


#3

Closed my store 2 years ago. We used Wilkersons. I wouldn’t recommend them. A lot depends on if you have enough inventory on hand to run a 7 week GOB or whether you need to bring inventory in that has enough mark up on it that you can offer it at 70% off and not loose money. My wife now does this for a living and can answer all your questions. She is currently running a GOB in a store in Illinois and a stock reduction sale in another store about 75 miles away from there. The advertising is the key and it is very specific. She works for months setting one of these up before going to the location and working the whole 7 weeks there. She currently works for Chuck Frey her number is 252-314-1611. Keep trying and leave messages and voice mails. It can be difficult at times for her to answer her phone but she will get back to you. Her name is Rita Wade.


#4

Good morning Jon,

Email me at jmfuja@lentel.com and I will gladly answer any question you may have.

Jon Fuja

Jon Michael’s Jewelers

Fayrick Mfg. Inc.

Durand, MI


#5

We had a very successful retirement sale in 2013. Used G. A. Wright. We we are able to bet back 120% of our total wholesale inventory and sold about two thirds of it, They don’t bring in their junk like some others and we controlled our markdowns though pretty much followed their advice.

We specialized in very fine color and handmade gold. We beefed up inventory, added some appropriate stuff from friendly suppliers. Nothing added from G. A. Wright. Our representative stayed with us and ran the marketing/prizes for 12 weeks. Very satisfied.

Richard


#6

You did it the right way. I did not have enough inventory so Wilkersons brought in inventory and it was the worst of the worst. I literally did not want anybody to buy it. And I made very little off of their inventory.