The jewelry trade is a complex web of buyers, sellers, designers and manufacturers. If you are looking to launch a jewelry business or are interested in the wholesale side of the industry, it’s important to understand the many players in this space.
Whether you’re seeking to buy new materials or learn about the newest seasonal trends, attending a jewelry trade show can be a great way to investigate every aspect of the industry. In-person events attract thousands of industry professionals and can provide you with valuable business insights and networking opportunities. Many jewelry trade shows also feature educational opportunities, like panel discussions, workshops and breakout sessions.
When you’re ready to start your own jewelry business, consider purchasing your supplies from a jeweler’s supplier. This allows you to work closely with a jeweler and develop a relationship. Moreover, you can gain insight into their sourcing methods and best practices. If you’re working with a smaller budget at launch, you can find co-op studio space or share the cost of equipment with other jewelry designers. Gillian, for instance, splits the costs of her metal work and silversmithing workshop with two other jewelry makers.
Most jewelers offer a trade-in program, which allows customers to bring back items that they’ve purchased from the shop. This lets the jeweler get the benefit of a future sale while providing a customer with an opportunity to upgrade their current jewelry. If you’re considering trading-in jewelry, be sure to look up the retail value of your pieces online to ensure you’re getting a fair deal.
In the jewelry trade, a loose gem’s value is determined by its color purity and clarity. A gem’s provenance will also play a role in its price. If you can prove a ruby’s history, for example, it will fetch more money than a similar stone with no traceable history.
Unless the piece is being commissioned for a collector, mounting a loose gemstone does not usually add much to its value. However, this is not universally true. In some cases, a well-made piece of art deco style jewelry may enhance the gem’s value. In general, though, it’s the gemstone that drives resale value, not the mounting.
