MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
OtherNov 11, 2013
What is your time worth?
Retailer Jim Alperin discusses how brick-and-mortar jewelry stores sometimes serve as the educational setting and in-person showroom for Internet diamond shoppers, and poses the question: Is it time for retailers to implement fees for these services?
James Alperin
It’s happening more often than ever before: a customer comes into the store and wants to ask about diamonds. After all, you are the local expert and there are certain things that the Internet can’t provide. The computer today has fabulous 3-D photos of engagement rings and diamonds that allow your customers to see how a ring looks from every angle. GIA certificates, which are readily available to view on the Internet, make it easy to know the exact color, clarity grade and dimensions of the diamond your customer is interested in buying. After all, once the GIA established a universal grading system for diamonds, they became in many ways a standardized commodity. Once that happened, comparing one diamond to another became much easier for the consumer.
The one thing that the computer can’t give your customer, other than the personalized service that we as brick-and-mortar retailers can, is the opportunity to try on a ring to see how it looks on their finger. It also doesn’t let the customer see how large a 1 1/2-carat diamond is compared to a 2-carat diamond. What color exactly is H, and how does it compare to an I? Only when the customer sees the stones, often next to one another, can they decide which color and size diamond they want or are willing to accept. So it seems that the role of retail jewelers is becoming more the showroom for Internet diamond web sites. We are the salesman for our biggest competitors and we don’t get paid for it!
If you think back, not that long ago, there was an uproar against the airline industry for instituting baggage fees. If you want to fly somewhere on vacation and take no clothes for a week or two then fine, pay the price of the ticket only. On the other hand, if you are like most of us, when we travel we take along more than just a toothbrush and require a suitcase. Not only is one charged to take one’s clothes but if you want to bring them home with you, you are charged a second time. What about the price of gasoline? When was the last time you heard a real protest against paying over $3 a gallon for a commodity that is needed in America, where train travel barely exists and public transportation in most cities is inefficient?
If we are to continue to exist as retail brick-and-mortar stores, it’s time to get smart about what we are giving away: our time, our experience and the costs of insuring and shipping diamonds into our stores to show people who plan on buying elsewhere. The many companies in the airline industry and the oil industry came together as one and instituted fees and raised prices. There was public outcry at first but it soon disappeared as those costs became industry standards.
As retail jewelers, it’s time to institute a fee for our service. The first visit to the store, when one is establishing what it is that the customer is interested in, should remain a free service. It is during that visit that the retailer finds out what it is that the person is looking for.
Educating your customer about diamonds or, if you need to ship diamonds into your store for them to see, should be done for a fee. The fee should be presented as one for your professional time and shipping costs and will be applied to the purchase of a diamond from your store. If the person across the desk or counter from you is just using you to better understand their Internet purchase, then they should pay you for your time. If they plan on making a purchase from you, then the fee should be applied to that purchase. The customer loses nothing and, in fact, gains from your knowledge and ability to present live product to them, which can add up into the tens of thousands of dollars very quickly in our industry. There is value in that and it should be paid for.
At first retail jewelers will resist the idea of fees for service because we have always given away our expertise as a way of developing loyal customers. In today’s technology-driven world, where billions of dollars in diamond sales are going to the Internet, we have to consider changing our business model. Fees for services rendered need to be instituted industry wide, like the airlines did with luggage. Soon, like airline fees or $3-a-gallon gasoline, the public would expect to pay for your time and might even buy more diamonds from brick-and-mortar stores in order to recoup their initial investment in your time.
The times they are a-changin’ and it’s time we changed with them.
More on Other
The Latest
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
Weekly QuizJul 31, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
FinancialsJul 30, 2025
Kering's Jewelry Brands Resilient As H1 Sales Slide 16%The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in AustinIts opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.
SurveysJul 30, 2025
Consumer Confidence Ticks Up in JulyRespondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LASenior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New DesignersThe first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough EmeraldsThe online auction house’s September sale will feature rough Brazilian emeralds of various qualities.
MajorsJul 29, 2025
Alexis Padis Re-Elected AGS Board President She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.
MajorsJul 28, 2025
The 1916 Company Partners with ‘Shark Tank’ Star’s Watch Insurance PlatformThe retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.
IndependentsJul 28, 2025
Sissy’s Log Cabin to Open Flagship in Arkansas The jeweler’s largest store yet is set to open in Little Rock next fall.
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
