When it states on the Memo form to report in a certain time frame,
it is referring to you contacting the vendor and offering the status
of what’s on the Memo. You will be expected to report on what you are
keeping, and what is coming back to them. Though a vendor has the
right to choose any time frame, I must say that one week is very
short. We’ve generally allowed 2 to 3 weeks, unless there’s something
ususual about the circumstances.
Roger Dery @Roger_Dery
Spectral Gems, Inc.
Royal Oak, Michigan USA
Rare Gems - Precision Faceting
I think the word “on” is missing. It says that merchandise on the
memo must be reported on within one week. Memo goods are only for
your inspection and examination and the report is that if you would
want to buy it.
As an old time vendor, I have to tell you all that memo is one of
the biggest headaches we have. Recipients seem to forget that Memo is
a privilege and a courtesy offered by vendors.
We maintain inventories and staff to service the jeweler’s needs at
no cost to them. How many industries allow you to work on speculation
that you might or might not be able to sell an item.
When we request a report in a period of, lets say, five to ten days,
that means exactly that.
Letting your vendor know what is going on with the memo merchandise
is allowing them to know that you appreciate their allowing you to
work on their money. I know only of rare cases where time will not be
extended if need be. All you have to do is give your vendor a call
and let them know you are staying on top of the situation. Also
remember when you have that client looking for a very expensive item
that vendor is going to be far more agreeable about giving you
whatever it is you need.
See it from the vendors point of view…Example: You memo
an item and hold it for thirty days or more. Comes back to the vendor
and must be restocked and sent out to someone else perhaps…
That often means that over the course of a year, an item may be shown
only ten to twelve times and unavailable to other buyers most of the
Memo has become the nightmare of the industry all because jewelers
can’t seem to understand that Memo is an excellent toll for doing
business but must be respected. Don’t call you vendor and tell them
that you sold their item for them. You sold it for yourself. Let them
know you appreciate their help in your making the sale. Trust
me…It will work wonders.
You forgot to mention the new way of the vendors being abused. The
retailers calls ten vendors get memo, sell one of the vendors
merchandise- requests such vendor to waive shipping and the other
nine are conveniently forgotten for paying shipping charges, on the
pretext " I did not sell and had to pay shipping back".
But always their customers need to see it Tommorrow morning, thus a
priority package and getting report is always like pulling teeth.
I think it would be no exaggeration if I mention here that the MEMO
is the reason some of the retailers are in business today and ekeing
out their living.
MEMO thy name is ABUSED, DISRESPECTED and taken UNDUE ADVANTAGE OF.
As to my use of the term “goofy” it was about my question not the
I agree with Sali 100% on memo’ed items. I always find the whole
memo system amazing. As it gives me a plethora of stones to choose
from at my leisure. I try to pick out my items and send them back
asap. I also try to let my vendor know I got them. But I was unsure
of what the wording on this memo meant…exactly.
This time we received a rather large # of gems. When I went to ship
them back I was in a quandary as to insure or not insure. I noted my
vendor sent them to me uninsured. I did insure them, but it cost
$66! to ship back. Plus then you must declare-tell em what you are
shipping, which I hate to do.
How do others deal with the shipping, insuring, and maintaining the
“privacy” of what’s in the package when they are shipping gems
around the country.
How are you shipping. If registered you only have to list the value.
This is by far the safest option. and yes, unless you can afford to
pay the dealer the price listed, you should insure. Chances are hed
did as well, its just that the insurance is part of his total package
and need not be listed on shipping forms.