Business news of Irish Jewellery interest to end of June 2008.
Many Thanks to all You Reporters and to all our Nice Customers!
We are using a new email address now. email@example.com All the old email addresses still work of course, for a while, but please update your contact email for us now.
Seen at the RJI Dance in October 2007 Chris + Chris from Bransom Retail Systems.
Glad to report June was up 23.5%. This leaves us 5% down for our 1st financial quarter. Relatively happy with that considering what we are hearing and reading in the media
Our sales were down below expectations in June. We are not too worried as we think we know why (there is always a reason). It is the first month in the last eighteen that we are down so we cant complain. Our year end is June, so we had to close for a couple of days to count the stock, my favourite job of the year!!! Thanks to all our customers for their patience and understanding.
A message to the trade: When times get a little tougher try harder to buy local and buy Irish and don’t talk down the economy, there are enough people doing that already.
Many thanks, as ever, for your work Johnny
N N Enterprises
[All real name
are used with permissions, Thanks Guys.]End
What have I got to report?
Footfall definitely down, even on Saturdays there seemed to be a lot less people on the street. Despite that, we had a few good sales, and the upper end of the trade I feel is still hanging in there. The purchases of gifts, especially gift vouchers is down and not much impulse buying. Visitors are not buying very much at all - but when I see the price of Designer Labels in Boutiques jewellery is cheap by comparison. What else can I say, we had a customer last week buying a few items for CHRISTMAS yes that is what I said.!!!!
Our deposit box is still slightly up on last year, despite getting stricter on the payments.
Enjoy the emails, Regards,
Sorry for the lack of reports in recent months. Despite all talk of doom and gloom we had a decent month again in June and are up on last year. I do find big sales are a little slower than previous years but medium priced stuff has not been affected by the slowdown. In fact I think my business may be boosted as they guy who was buying the GUCCI or TAG last year may buy a GUESS or D&G instead this year. Always look on the bright side of life!!!
Up 6% for June. Holding steady. Hope weather picks up
Down 20% for month but up 2% on the year. Last June has some good diamond sales which were not repeated this year, accounting for difference.
End of retailers.
Federation of Jewellery Manufacturers in
Two Nice Ladies
Response to the Credit card scam from the South East last month.
From the West
Thank you Johnny for keeping us on our toes.
And the East
Hope you’re well .
We have had two cases in April and may, where we had accepted stolen cards but didn’t realise it at the time, the cards will not chip and pin . He looks similar to the guy that was in our shop. We did not find out from the banks for 4 weeks so our camera footage was gone. But we have been paid for the items . Kind Regards
Photo attached of
Jack Daly & Derek Byrne (formerly
DTRM Ltd. ) of D&B Designs in front of the CNC
diamond milling machine.
D&B Designs is a new company set-up by Derek Byrne & Jack Daly to continue the wedding ring business formerly operated by DTRM Ltd. Both Derek & Jack worked for DTRM Ltd. for over 22 years.
Our new telephone no. is (01) 4097816 and fax no. is (01) 4097819.
Premises Address = D&B Designs
CAD course for Jewellery.
I was reading in your email the
last day about the CAD course in
William Nolan Jnr. (son of the world famous Billy Nolan). William is at firstname.lastname@example.org Thanks William
John and Kathleen O’Shea of O’Shea’s Jewellers, Main St. Killarney after 40 years in the trade plan to retire shortly and intend to offer for sale their premises which has a ground floor area of 450 sq. feet. Enquires to: 087 741 5320.
Fred Verso & Friends
I would just like to take the opportunity to thank you for the moving tribute you paid to my dad, Fred, last month. I think you summed it up perfectly when you said it was 'the end of an era'.
The photo you printed was also very appropriate in that he was probably the only representative to look so happy to be 'on the road'. Could I just finally say how touched we were from all our customers from
Karl, Graham and Staff, Debbie & Lucy
F. Verso LTD. 5
Laura Hill speaks on Checking the Value of your Stock.
June 2008 Edition
The Rising Prices in Gold, Platinum & Diamonds
By Laura Hill Gogan Insurances
Everyday we listen to the news or open a paper we are reminded about the weakening of the Dollar and the effect it is having on businesses worldwide. When you team this with the ever increasing cost of purchasing Gold, Platinum and Diamonds you may find that the value of your Stock is significantly underinsured. From my research I found that the cost of a Troy Ounce of Gold in January 2004 would have cost $400.00 compared to a staggering $965.55 in January 2008. (www.goldprice.org.) It was also published in the May 2008 edition of the Chubb Insurance E-Bulletin that the cost of Platinum has increased by 100% and the cost of Diamonds by 30%.
You maybe wondering what this has to do with the value of your stock, well this would all become evident if you were to have a claim. Take this for an example:
Say you bought a tray of 24 Gold Wedding Bands in 2004 costing you €1,680.00. If this tray of rings were to be stolen today, you would have to replace them. You speak to your supplier and as the price of gold has risen by 59% since you bought them it will now cost you €2,671.20 to replace them. If you hadn’t increased your sums insured accordingly each year than your insurer will only pay you €1,680.00 leaving you with a shortfall of almost €1,000!!!!
The example above although done on a small scale shows that by not reviewing your stock sum insured every year and increasing the sum insured accordingly that you are leaving your business exposed to under-insurance. Let’s say you hadn’t reviewed your stock and increased it accordingly and as a result of a robbery or a fire you suffer an entire loss of your stock. The shortfall between what you paid for the stock and the cost to replace it at today’s prices may be large enough to put you put of business!!! What can you do to prevent this?
As Specialist in Jewellers Insurance Gogan’s would recommend the following:
As you are aware Gogan Insurances Jewellers Block Policy, “Platinum Protection” offers Excellent Cover at a Competitive Price and you are always guaranteed the Gogan’s Top Class Service. If you have any questions or would like to get a quotation please feel free to contact me on email at: email@example.com or call me on 01-2990299 or 086-0519701.
Seen at the IJA Annual Party held in Beaufield Mews December 2007.
Johnny Gordon, Albert O’Callaghan, John Condron.
We sell a few padlocks from time to time. Often the customer is unsure which size their customer would like and so we send a few different sizes with the proviso that we will take them back anytime. And we will, of course, but sometimes customers send them back carelessly packed. We send them out in a hard box to avoid crush damage. We have often got them back in just a jiffy bag. Once we even had one back in a plain envelope and the post office rollers had even printed the shape of the lock on the outside of the envelope. Please! Pack them in a hard box please! Like the box we send them out in. Thanks.
Yes indeed the untangling of chains can be a bit of a struggle. Just as most people think that nurses LIKE emptying bed-pans, most people also think that their jeweller LIKES to untangle chains. “Sure I would so it myself but I just do not seem to have the knack!” they say cheerfully.
There is a reasonably simple answer besides telling then that you will have to charge them a fiver. Try using two sharp tweezers or two longish pins as used to hold a flower in a buttonhole. Just keep teasing the loops of the tangle apart and it should be perfect in a very short time.
Was talking to a customer this week who is having a sale. Now not just an ordinary sale giving 10% or even 20% across the board. No. He (I will call them he) discovered that he had far too many of just two types of stock. Diamond rings and Wedds. So he bravely decided to discount them by 30% to 50% and advertise over a fairly wide areas which would hopefully cut the feet from under the competition in his immediate area which would come to about maybe 8 jewellers. And if these are also experiencing a dearth of sales in these two items then HE will be the one who gets his stock back to normal soonest.
It is like the property ladder. Or should we call it the property snake by now?? I have seen a few bubbles burst in the few years that I have been in business and I sense a property one about to burst soon. I remember that in the last property bust between 1982 and 1987 my house value dropped down from £85k to £45k over that time as referenced to the selling prices of property in my area. A big drop. Now we see the occasional property developer with lots of unsold stock announcing that there is €50k or €100k discount off the said properties just to get some ready cash in to pay the banks.
I am told that the banks are squeezing all the customers that they can because the banks are not able to borrow like they used to and are being pressed themselves. So some day soon, and maybe tomorrow, lots of property people are going to DUMP their stocks in a hurry. But at that point, in my opinion, lots of others will start to panic and property might drop 30% in a hurry. It is already down 25% in real terms, the actual drop plus 5% inflation over each of the past 2 years. Which neatly brings me to the next part of the tale. Is business in heavy goods going to be up or down??
Was talking to a good customer in the South and they said that things were QUIET. Was any particular category quiet?? Yes. Heavier items, top end diamonds and expensive watches.
Another customer in the
midlands told me that he had decided to come up to the big smoke recently and
went first downtown to see what the jewellers were doing there. “Polishing their Stock” was what I was
told. Hmmmm. Then himself and the wife dropped in to a
He then went to a suburban shopping centre and stood for TWO HOURS looking at the footfall going into 2 adjacent large well known retail jewellers. The “bread and butter” guy was doing a steady trade (naturally he did not know how much was being sold or what but footfall seemed OK to my friend.) However the “up-market” shop saw not a single foot fall in the period. It does not mean that are going to go bust anytime soon, maybe they do all their business on a different day of the week or a different time of year but my guy felt that he was glad to be selling stuff up to €5k maximum instead of up to €500k maximum.
And he is also changing his watch buying habits in particular. Instead of buying say 80 watches he will be buying 40 to 50. And on a monthly basis if he sells 4 of a brand he will reorder 4 of that brand. He says his computer organised stock control system helps him to do this. He also said that Noël Wall agrees with his strategy and indeed encourages it. He says that it no use if Timemark sell a whacker of watches in the early part of the year and then reorder on the basis of good sales only to discover that the goods did not sell at retail level at all. Much better to buy a representative selection early, try them out at retail, and reorder only the one that actually sell. Not all the brains are in the bigger cities I can see!
If you have any observations to make on the subject yourself I would love to hear them.
Ear Piercing Tip.
Was in the South recently and was surprised to hear a customer ask a customer of theirs who want her ears pierced to go off and have coffee and a bun and come back in half an hour.
Apparently it was to get the blood sugar up to high-normal so that they would be less likely to faint.
The brother in
Was talking to a lad I the
But, it could wear off a pair of earrings quickly enough with all the putting on and off. In the case of a ring any sizing would remove the hall-mark when polishing. Maybe it will be not quite so enthusiastically received as anticipated
My father used to say that that with the weather “so changeable you would not know what to pawn”.
If you notice a dodgy looking person in your shop try to make them speak so you can guess their accent It is nice to say hello to customers anyway and to make eye contact with them anyway.. But if the person is not a legitimate customer the chat will make them un-comfortable and they may well hump off without trying it on.
I am informed that the
Credit Card Check
Make sure with credit cards that the embossed first four numbers and the tiny four digit number beneath the embossing correspond. It is a security check and not all fraudulent cards have the tiny numbers
Codes to keep you Safe.
Consider having code words to be shared with staff to indicate that you are uncomfortable with something or someone or some situation. Another to mean that YOU are happy with it and so on, e g coffee break, decaffeinated and the like. You can have a different code word for “DO NOT LEAVE ME ALONE” or “WATCH THE BACK DOOR” or “I DO NOT LIKE THE LOOK OF SOMEONE IN THE SHOP”. Handy codes will be something that the suspected person would not think unusual but that jewellers would understand to be not a jeweller’s item: Plastic Pearls, Rubber Strap, Watch Face, Expanding Buckle……………………..figure it out for yourself, it’s a long time since I was in retail. But do figure it out. It might save your life or at the least a lot of stock. Incidentally I have added a few clicks at the foot of this News. In particular this one which shows all the suspects we have so far pics of. Robberies and fotos of suspects. Please send in fotos of any suspicious people and we can add them to the list. You can click on it as often as you wish then and get all the latest pics. And I am asking for movies as well as just snaps. If you can send movies in any of the usual Windows formats “*.AVI” or “*.WMV” or “.MOV”. I think most people can read these. Thanks. If you do your bit I will try to do mine!
We try harder.
Was talking to one of my bigger customers and asked whterher or not they were busy. He said that while things were “OK” it was getting tougher to make sales sometimes. And he gave the example of a customer who came in for a pen at €80 but he needed it engraved. For some reason the customer would be unable t collect the pen in time for his requirements and so my customer said that he would, of course drop the pen to the house. Sounds like he tries harder all right.
Got a virus alert from two friends of mine and carefully checked it out with Scopes. If an email arrives with the word POSTCARD in the title do not open it even if from a friend. Apparently modern anti-virus stuff will kill it but just in case, be careful. If you wish to check it yourself click: http://www.snopes.com/computer/virus/postcard.asp
Borealis. Now here is a pic of the Aurora Borealis from the
And the most exciting, to me, is a sheet of instructions on how to refresh WinXP when it slows down and gets rid of whatever problems Windows has accumulated and makes it perform like an brand new install. But with the difference that you STIL HAVE ALL YOUR PROGRAMS AND SETTING AS ALREADY INSTALLED. I tried it first on an old machine with WinXP and since it did not explode I tried it on this one. Perfect! Quite quick too, faster than a new install. One caveat is if you have a few disks on your machine it tells you that you are in severe trouble. After chewing my fingernails a few time I tried disconnecting the other two disks and when I tried again it was “good to go”. Click here for the relevant sheet. You must either print it out or read the instructions on one computer while you work away on the other. WinXP_Re-install in Comfort and lose no settings
Special Claddagh Ring wanted.
I was sent to you by Ken Byrne of Allcladdagh. I purchased a claddagh ring about 20 years ago that came from
The original ring was a large square signet ring with a claddagh raised in the center, the center was just polished gold, and on each side of the ring was a shamrock and there were cut-outs around the shamrock on each side. The reference number for this ring ws S2336. Is it possible that you would have or know someone who would have this ring or be able to make it for me?
I appreciate any assistance you can provide in helping me get this ring replaced. Thank you. firstname.lastname@example.org
Thank you so much for your help with this, I really do appreciate it! I know I seem to be a pest about this, but I can't explain how much it means to us to be able to replace this ring. Mary Malone from Solvar did all she could to help me with this and I did appreciate that as well. Hopefully, someone will come through, but if not, I really do appreciate your effort. Thanks again.
Please find enclosed information about our new range of Heraldic Jewellery. Would it be possible to add this to your excellent Newsletter to inform the trade?
Best Regards Tony O'Conner
We are a Trade Only Manufacturer - Wholesaler – Resellers Welcome. We produce very high quality renditions of Family Crests and Coats of Arms on a variety of products and have exceptionally good prices for resellers. See our exciting new
Thanks for the list of upcoming trade fairs
you might also like to list the
Autumn Gift & Home Show @ RDS Simonscourt
We have agreed to take part www.autumngiftfair.com
Timemark will be holding our annual Winter show at our offices during the 3 weeks of August 11th through to August 29th.
We will be open on 2 Sundays; 21st & 28th and customers are welcome to stay over as our guest.
The main "open" show week is August 17th - 22nd;- and the other weeks are with other times by appointment.
Watches;- Seiko - Pulsar - Lorus - D&G - Breil Milano - Moschino - Ducati - Disney - Nike
Clocks;- Seiko - Lorus
Jewellery;- D&G - Breil Milano - Moschino
Straps & Accessories;- Morellato
Labelling & Electronics;- SII
We are also showing limited selections at THE AUTUMN GIFT & HOME SHOW 24th - 27th of August @ the RDS Simmonscourt Dublin.
Manufacturers of the highest quality fine jewellery with exquisite designs in platinum and gold.
Our breathtaking range includes diamond rings, earrings, pendants, bracelets, bangles, brooches, chains and necklets in elegant, classic and contemporary styles.
We make diamond rings for every occasion – engagement, wedding, eternity and dress using various shaped diamonds such as round brilliant, baguette, taper, marquise, pear, princess, cushion, emerald cut, and Asscher cut. We also use precious coloured stones of emerald, ruby, sapphire, amethyst, topaz, aquamarine, opal and garnet. Different types of ring settings add variety to our collection, which includes solitaires, clusters, channel set, claw set, grain set, rub-over, straight, curved, full and wishbone styles.
We also specialise in traditional Irish jewellery in Claddagh and Celtic designs set with beautiful emeralds and diamonds in 9ct, 14ct and 18ct gold.
With our knowledge and experience of current jewellery manufacturing techniques you’re assured of the very best in both quality and design.
Just thought it would be a good idea to let all know about the show on 24th August in Simmonscourt. This year there is a section for Jewellery and Watches. We are also doing OK. Still up on last year, but the next few months could be the ones to tell the tale, sales are slowing down, as customers are complaining that they are fully stocked. We will just keep poor Philip out there doing his best.
Later: We are still doing well, still have the edge on last year. Cubby back full time and looking very well, keeping us all on our toes and loving it.
Cubby O'Connor Ltd [NB I called Cubby and he is doing well! Johnny]
The RJI Annual Dinner Dance will be held in Clontarf Castle Dublin 3 this November 8th. I know that it is over 5 months away but the hotel is rumoured to be quick to fill up so if you wish to make your booking early please contact the hotel direct: http://www.clontarfcastle.ie/
A new on-line magazine. Give it a click! http://www.thegoldsmith-magazine.co.uk/
Our old friend
And if you are a member of I S M E (and all member of the Irish Jewellery Trade …….Irish Jewellers Association, Retail Jewellers of Ireland, Federation of Jewellery Manufacturers Of Ireland are already member of ISME) click on the ISME pic. You should know your password already but if not please phone or email me as below and I will give it to you. You know that they have a monthly report on items of interest to business people.
Tips on Filling your Vehicles...
This is a Message received from a friend:
know what you guys are paying for petrol... but here in
the Marian Hill Pipeline, where I work in
One day is diesel; the next day is jet fuel, and petrol, LRP and Unleaded. We have 34-storage tanks here with a total capacity of 16,800,000 litres.
ONLY BUY OR FILL UP YOUR CAR OR BIKKIE IN THE EARLY MORNING WHEN THE GROUND TEMPERATURE IS STILL COLD. Remember that all service stations have their storage tanks buried below ground. The colder the ground, the denser the fuel, when it gets warmer petrol expands, so buying in the afternoon or in the evening.... your litre is not exactly a litre.
In the petroleum business, the specific gravity and the temperature of the petrol, diesel and jet fuel, ethanol and other petroleum products play an important role. A 1degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.
WHEN YOU'RE FILLING UP, DO NOT SQUEEZE THE TRIGGER OF THE NOZZLE TO A FAST MODE. If you look, you will see that the trigger has three (3) stages: low, middle, and high. In slow mode, you should be pumping on low speed, thereby minimizing the vapours that are created, while you are pumping. All hoses at the pump have a vapour return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapour. Those vapours are being sucked up and back into the underground storage tank so you're getting less worth for your money.
ONE OF THE MOST IMPORTANT TIPS IS TO FILL UP WHEN YOUR TANK IS HALF FULL. The reason for this is, the more fuel you have in your tank, the less air occupying its empty space. Petrol evaporates faster than you can imagine. Petroleum storage tanks have an internal floating roof. This roof serves as zero clearance between the petrol and the atmosphere, so it minimizes the evaporation.
Unlike service stations, here where I work, every truck that we load is temperature compensated, so that every litre is actually the exact amount.
ANOTHER REMINDER, IF THERE IS A FUEL TRUCK PUMPING INTO THE STORAGE TANKS, WHEN YOU STOP TO BUY, DO NOT FILL UP - most likely the petrol/diesel is being stirred up as the fuel is being delivered, and you might pick up some of the dirt that normally settles on the bottom.
Hope, this will help you get the maximum value for your money. Compiled by Ramesh Patel
Small trumpet sound! Names deleted for privacy.
Brendan here from the North. I attended a meeting last night hosted by Damien Duggan for some of the members of RJI. Inevitably, your name came up, and in particular your famous Newsletter! All agreed that this publication is 'de rigueur' for any serious retail outlet. I do remember getting it fairly frequently in the bygone days of snail mail. Nowadays, I believe it can be acquired by email and we were wondering if you could add us to your e-mailing list. My email address is email@example.com
Thanks in anticipation Johnny. Hope yourself, Sheila & Jonathan are well. All the Best. [Thanks for the kind thoughts Brendan]
I'll leave you with one of my favourite all-time quotes from Mahatma Gandhi. The great man puts it far better than I ever could:
"A 'Customer' is the most important visitor on our premises.
He is not dependent on us. We are dependent on him.
He is not an interruption on our work. He is the purpose of it.
He is not an outsider to our business. He is a part of it.
We are not doing him a favour by serving him. He is doing us a favour by giving us an opportunity to do so."
We do not have everything, but if it is a finding we probably have it.
E.& O. E.