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Jbt


#1

Some companies I order from ask me for a JBT rating (which I do
not have), I usually just pay for what I’ve ordered with a
cashiers check or postal money order. Other supply houses will
usually take a personal check or credit card. I was trying to
do business with a diamond house the other day and they informed
me they only do business with JBT rated companies. They had the
stone I needed at a price I liked but wouldn’t sell it to me, (I
saw a list of their offerings on a trade web site). I usually
buy diamonds from local shops that give me fair wholesale
prices, but I’m limited to whatever they have on hand which a
lot of times isn’t what I need. Usually the diamond prices I
can get from tool and finding houses are kinda high. I was
wondering how hard it is to get a JBT rating. I work for
another company, but have my own shop at home that I do business
from. Can a little guy get a JBT rating, and is it a feasible
thing to do? Any input on this would be appreciated. Rick Barnes
Gainesville, FL


#2

Any legitimate jewelry business can be rated by the Jeweler’s
Board of Trade. You need to call them up (they are in Rhode
Island) and ask them to send you out the financial forms they
use. There is no guarantee that they will rate you immediatly as
they may consider you a new company. They also will need to
have some proof that you conduct business with jewelry suppliers
on a credit basis as that is what they are basically rating you
for.


#3

Hello Rick! I’m sure I’ll be scolded for relaying some of
the details herein, but here goes. JBT (Jewelers Board of
Trade). Yes you can join. You’ll get plenty of paperwork to fill
out believe me! That full time accountant you didn’t hire yet
would be handy too! What I did was take approximately 10 minutes
to fill it all out! Yes you betcha! Just geuss at the figures
they are asking for.There purpose is largly statistical with the
depth of financial info. they want. They also will help a
business collect a debt, which could sometime help you.

For a company who does a lot of business with JBT outfits that
is quite a constant threat to pay your bills and conduct
business ethically. There are other benefits as well which small
operators like us rarely would utilize.

My motivation for “listing” was the same as yours; to be able to
buy from any company I want too. My listing has lapsed (around
1983 or so) once I established business rapport with those that
I wanted to do business with. When you look at the whole dilemma,
you need three things: diamonds, colored stones, and metals. I
recommend you have three sources of the first two. These areas
both tend to specialize so foind specialists who can cater to
your revolving needs. Such as; Diamonds - melee rounds (indian
or fine make), baguettes and princess cuts,fancy shapes, 1/2 ct
and larger. Color - calibrated, cabachons, precious,
semi-precious, the big three ; ruby, sapphire, and emerald,
melee and centers. Try to work with and find businesses who are
people you like doing business with! Go to the different gem and
jewelry shows. Budget for these shows and buy what you know you
will use. Get trade magazines and gleen suppliers from the
advertisements; and if your too small an operator for them, ask
to be referred to one of their distributors. That’ll fix’em!
Subscribe to Jeweler’s Circular Keystone, you’ll have great
articles every month, and all those suppliers advertisements.
They put out the Jeweler’s Directory (anything in jewelry, quite
comprehensive) which you get free, as a subscriber! Join AGTA
(American Gem Trade Association) $95 for an associate member;
and you get their member directory every year. It’s a
comprehensive digest of national gem dealers, large and small.

If your looking for Andalusite to Zoisite there is a page or
pages of dealers to contact. If you decide to list with JBT and
be rated (berated? hmmm?) Don’t use your home address. They have
a designation for that. When companies look you up they see your
a “cottage” business and they won’t send to you! How utterly
frustrating! Hope I’ve helped. Does this qualify as a “favorite
tip”?

						Good luck!
									
						Tim

#4

Rick,

I just ran into this problem with Polygon.com on the Internet.
They sent me a nice little letter saying they couldn’t verify my
"commercial" status with JBT (what ever that is) and asked me to
send them a bunch of other stuff like invoice copies or tax ID
numbers. Most companies will work with you this way. They’re
just trying to keep the end user from paying wholesale prices.

Chris, Kansas City


#5

Rick:

I’ve been operating a trade shop for almost 15 years now and
have had a JBT rating in the past. I have to say that it’s
frankly more trouble to maintain that it’s worth. They want you
to fill out a lengthly questionare every year and it’s almost
like doing your taxes twice. Also, if you operate from your home,
they will not list you in the directory at all. Frankly, if you
have a good track record, anyone should accept the names of three
suppliers as a good barometer of your honesty. Some companies
simply are too lazy to bother calling more than one number to
check a new account applicant out. I’ve never been turned down
by anyone simply because I’m not rated by JBT. If references
aren’t good enough for them, try someone else. Maybe they will
want new business.

Best;
Steve


#6

Call JBT and get an appication. The rating they give you is free
if your big enough. but if you join you have a considerable
yearly expense for all their benefits.


#7

JBT is the Jewelers Board of Trade. They research and publish
a"Red Book" of established jewelry firms and rate thier credit.
This may help anyone out there doing business because it shows
who the at risk accounts and companies are. This is an expensive
organization to join, but many manufacturers need to know who to
sell to. This can tell any jewelry supplier what your credit
rating is. This book is massive and comes out and is revised
very frequently.


#8

The JBT is the Jewelers’ Board of Trade. One purpose of the JBT
is to be a clearing house of credit available to
members of JBT. Another purpose of the JBT is to try to "list"
legitimate jewelry businesses, along with their credit rating,
so as to try to keep just anyone from ordering wholesale,
thereby preserving what little margin there is left for the
legitimate jewelry dealers. Much the same as Stuller, Rio
Grande, etc. No one is trying to keep you from buying anything

  • they just want to be sure you are who you say you are, and are
    a legitimate business. You don’t need to be a member just to get
    listed. Simply give them a call and they will be happy to send
    you the proper forms. First timers might take 15 minutes to
    fill out, after that, JBT will call you for annual verification
    of the Along with getting listed, you will
    probably get on their mailing lists which are provided to many
    wholesale suppliers. Many catalogs will find their way to your
    address. Being listed with the JBT is a benefit of you are
    serious. If you don’t want to be listed, don’t complain if
    someone doesn’t want to sell to you. They are just protecting
    themselves and keeping the business in the business. I’ve been
    listed for years and it has been a huge benefit when looking for
    something out of my normal list of suppliers.

#9

Hi Todd I personally have not joined JTB mainly because small
outfits are not usually able to absorb the expenses. Some of my
fiends have and they were contacted by some small stores the
first year. Elizabeth


#10

Hi all, I’ve been watching the thread on the JBT and thought I’d
comment.

I’ve been a member of the JBT for over 15yrs., it is more like
Dun & Bradstreet than anything else. I really doubt that any
member is trying to keep you from buying anything. They may
however keep people who are not in the trade from buying from
your suppliers. By being listed you are just stating this is
what I do and I’m for real. In this industry its very tuff to
work without memos, you just can’t own it all. From my side its
very tuff to send memos to jewelers whom I can’t find out about.
I do believe it works well for both sides.

Larry

the JBT can be contacted by calling

1-401-467-0055


#11

Dear Elizabeth, I have never joined JBT but they have over the
years rated my company. I have great credit and give them
whatever info they want. I at one time had a reference number
they assigned me but I don’t know if it is still used. My credit
references have always opened any accounts I need.