AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
IndependentsAug 09, 2016
About Retail: Dealing in antique jewelry
Owners of an antique and estate jewelry business discuss the ups and downs of dealing in objects from the past and how they’re positioning the store for the future.
And for a family-run store, that new perspective often enters the picture when the next generation is ready to take the helm.
Jeff Josephson opened Raymond Lee Jewelers, which has its main showroom in Boca Raton, Fla., in 1983 after he moved his family from Scotland to the United States to start his own business. His son Lee has been working at the store full time for nearly a decade, starting right after he graduated from high school. His daughter Erin is also part of the family business, working as a buyer and helping handle the finances.
In Raymond Lee’s early days, the store put more of a focus on designer and branded jewelry, with less emphasis on the acquisition and sale of antique and estate jewelry.
“I didn’t like that model because it wasn’t exciting,” Lee Josephson told National Jeweler. “I saw a new way that I wanted the store to start moving toward.”
As he and his sister began to take more prominent roles at the store, they realized they wanted to change the way the store did business, and began making antique and estate jewelry a bigger part of what they offered. With the exception of some of the diamond engagement rings, most of the jeweler’s selections now fall into that category.
“It keeps it interesting, because you’re not seeing the same pieces over and over again, and you’re offering things that the other stores aren’t,” he says.
One of the obstacles Josephson sees when he’s selling antique or previously owned jewelry can be the disconnect that comes when trying to explain the value of a piece to a customer in order to justify the cost. Customers who don’t have as much knowledge about antiques do not always understand why the pieces are priced as they are.
“What I would consider value, they may not see that. So it becomes more about how much they love it and what it might mean to them more than anything else,” he says.
When asked about pieces that stick out in his mind, Josephson speaks of two
Editors' Picks
Sponsored by
rare Patek Philippe watches that are currently in the store’s possession--a "Nautilus" 5719/1G, which the store is selling for $258,995, and a "Twenty-4" 4910/51g-001, listed at $124,995.
Both watches are 18-karat white gold and completely covered in diamonds, and both still have their original Patek Philippe box and papers.
“They may be considered gaudy by some people, but there are customers who like that kind of thing. And they’re rare, so I’m one of a few to have one of these for sale, which is so cool,” Josephson says.
In fact, for Raymond Lee Jewelers, the pricier pieces currently seem to be selling the best.
“We are finding that the more interesting the piece and the higher the price point, the better a seller it is. In this marketplace, people who have the money are willing to spend it as long as it’s a good value. I don’t buy pieces because they are cool or trendy at all. I want pieces that will give me a return on my investment,” he says. “By targeting higher-end, rare items you can cater to both retail clients who are coming into the store locally as well as other jewelry stores who may be looking for something specific.”
Opening the store up to buying and selling to other jewelers is another change the second generation of Josephsons made.
They do a fair amount of business this way, Lee Josephson says, with more and more businesses calling to locate something specific. Raymond Lee Jewelers generally sends from one to three packages on loan to other jewelers every day.
They also buy pieces from other stores looking to sell and will buy merchandise that is being liquidated as well as take back any pieces originally purchased from Raymond Lee for full price.
But even as they change to try to find a niche in the marketplace, Josephson says they still face increasing competition in antique and especially estate jewelry, noting that he’s seeing more and more retailers adding pre-owned selections to their inventory.
The company will continue to focus on the pieces with the best story and value to separate themselves from the pack.
“It’s a very complicated business because you really have to know what you’re doing or you could end up with a piece you’ve paid way too much for or that you won’t be able to sell again,” he says. “It’s definitely not easy. I feel like I work 24 hours a day. If you want to be somebody in this business, you have to put in the time.”
More on Independents
The Latest
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
