Sorry for the late response. Here’s some answers:
15 ways to get rid of old inventory
- Have a showcase to set aside a grouping of old items and discount
them. Call the case:
a. Say good bye to our old friends case
b. Extreme value case
- Double or triple the commission on old items, in the case, or
- If you’ve never tried commission, now’s the perfect time. Try
5-10% of the sold price.
- Split the profit on old merchandise with the sale with the sales
person who sold it.
- Place a certain percentage, 5-10%, of the selling price of old
merchandise in a pool and split it amongst the sales staff at the
end of the month.
- You could have #5 above but make it more enticing by giving the
top salesperson extra percentage or a bigger SHARE of the pot if
they sold the most old merchandise.
- Tell the staff you want a certain percentage of the selling
price, they can have anything above that number they get. Example: A
$500 items sells for $1000. You want 60% of the selling price, $600.
If they sell it for $7250, they get $120 and you get $600.
- If you have too many in a higher price point, lower the retail
price, forcing it into a lower price point (print new tag) and put
back out. It’s a sale but doesn’t scream sale. So if you have too
much in the $400-$499 area and $300-$399 is doing well, in fact you
need to order MORE there, don’t! Just take some of the "too many"
items out of $499-$499 and move them into the $300 to $399. Will
save cash flow, won’t have to BUY anything.
- Return to vendor for exchange. In the future have signed on all
orders "If not sold after 12 months can be returned for “X to 1"
exchange on future orders.” 10. Take apart, keep diamonds for repairs
and custom design, send gold off for either money or credit with:
a. Roseco 800-527-4490
b. Hoover & Strong 800-759-9997
Let them have the credit on file and buy your findings and gold
stock from them from the credit. Immediately positive to cash flow.
- Send old merchandise to a company who will:
a. Take the stones out, return them to you, buy the gold.
b. Will buy the gold and stones at some price and give you a check.
c. You take the stones out, sell the gold, send the diamonds off to
be bought from you.
Company:WORLDWIDE DIAMOND CO.
607 S. Hill St. #811
Los Angeles, California
Phone:1 8007644367 Fax: 213622-2196
Web Site: http://www.wwdiamond.com
They will buy the whole shoot’n match.
Company:PAUL REISER AND ASSOCIATES
P.O. Box 1595
Green Bay, Wisconsin
Phone:1 8774754367 Fax: 920432-5797
Paul’s Closing Precious Metal Prices for 1-22-07
Gold: 633.00 Silver: 12.92 Platinum: 1160.00
10K $12.47 per DWT 100% Payment using the Closing
14K $17.22 per DWT Prices on the day merchandise is
16K $20.89 per DWT received. We phone that day with
18K $22.28 per DWT results so you know payment is
22K $26.59 per DWT forthcoming.
24K $30.45 per DWT
Platinum $48.72 per DWT
Sterling Silver: $10.34 per Ounce
US 90% Silver Coins: Pay $8.80 All amounts welcomed. US & Foreign
Gold and Silver Coins: Phone for quotes.
We purchase diamond melee set into mounted jewelry. No need to break
diamonds while trying to remove. Ask for our “BLUE SHEET”. (Prices we
pay for diamonds).30 to 4.00 carats
To Trade your scrap gold for 1 Ounce American Gold Eagles or a 1
ounce Canadian Gold Maple Leaf you will need: 53 DWT of 10K, 39 DWT
of 14K, and/or 30 DWT of 18K gold scrap.
Questions? Simply call 877-475-4367
Company:TULSA GOLD & GEMS
2431 E. 51st St. #704
Phone:1 8002220573 Fax: 918742-5042
Buys melee, prefers .10 cts and up, at least I1 or better.
- Barter for advertising. Radio loves to give away stuff and some
will trade jewelry for radio time.
- Barter for barter dollars-get other good stuff you need:
b. Illinois Trade Association
7449 N. Natchez, Niles, IL 60714
(847) 588-1818 x110 Fax: (847) 588-1573
- Have a sale where “If it reaches 100 degrees on July 4th, we
will refund all purchases”. Paid by insurance, costs 8-12% of sales.
Laura Glass 631-756-3000
- Professional Sale:
Silverman’s Bob Epstein: 800-347-3258 Ext 101
Profit Plus, Inc. Mark Preston
2748 Perry St.
Denver, CO 80212
In Colorado 1-(303)-477-3363
e-mail address: firstname.lastname@example.org
- Charity Auction
a. Close the store Wednesday
b. Auction is Thursday through Saturday, ending at 2pm.
c. Merchandise over a year old is on auction.
d. Send out direct mail to customers, advertise to the public,
hopefully paper & radio.
e. Contact a charity to sponsor.
f. Charity gets 10% of total sales as calculated on Saturday
(hopefully they will advertise to their list too).
g. They also get $5 for every “Bid Card” sold, see below.
h. Contact vendors and get their old inventory, hopefully at their
i. Tape on the counter small cards, maybe 3x5". It will have a place
Original selling price
Starting bid, which is 5% below your cost.
A line for bid Card # and the Bid amount
Might look like this:
Sku No: 123-87655 14kt Bl Sapphire rings, 4-.08 ct sapphires
with 8 pear shaped diamonds, C2BD ct t.w.
Retail: $1000 Starting bid: $450.00
Bid # Bid Amount
j. Get printed 2 copy NCR forms for the bid cards. Bid crds are for
To keep just “anyone” from writing some number.
Other customers can’t see the name of who’s bidding.
k. Bid card is numerically numbers and might look like this
Bid Card # 12345
City, State, Zip______________________________
Phones (H)_________ (O)__________ C2A9________
When biding, please use your bid number.
Rules of the auction aRe:
Auction is Thurs-Sat, ending at 2pm. Store closes at 6pm Saturday.
You have to be here between 2-5pm on Saturday to get the item you
bid on if you are the highest bidder.
If the highest bidder doesn’t obtain the auctioned item on Saturday
by 5pm, we will give second highest bidder from 5pm to 6pm to obtain
the item they bid on.
Items picked up must be paid for by cash/check/credit card.
No refunds nor exchanges. No charge sizing up or down 1 size. Normal
charges above that
Items not bought/picked up on Monday will be given to charity or
melted and will not be available for purchase after the event is