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Price point still prime draw for jewelry buyers

Sterling silver, bridal top draw at JA New York

By Michelle Graff
July 28, 2009

New York--Although there are signs the recession is receding, exhibitors at the JA New York Summer Show remain aware that it is a buyers' market for fine jewelry, and price point remains key to getting them in the booths.

Walking the show floor on Monday, it wasn't hard to find dealers advertising specials on diamonds such as "diamonds on sale" or "certified diamonds 50 percent back," as well as deals on diamond-testing equipment.

One booth advertised a Diamond Presidium Tester as a "show special," marked down from $124.99 to $95.95.

"Right now, they are wanting to buy cheap," said Helder D. Cerqueira de Souza of gold jewelry company Eleuterio, regarding all retailers at the show.

But that is fine with his Portugal-based company, which is willing to alter its designs to make them more affordable.

In the Eleuterio booth, Cerqueira de Souza said pieces range from $230 wholesale to $4,000, with only two pieces passing this mark.

Pointing to a pair of earrings that wholesale for $275, he said the company's willing to customize the earrings to make them simpler and more affordable.

Indeed, affordability is what seemed to draw buyers to booths all around the show floor on Monday. Exhibitors who appeared busiest mid morning and throughout the afternoon were those with closeout jewelry, or price points retailers think will sell in spite of the recession.

As it did at the recent jewelry shows in Las Vegas, closeout specialist SimplexDiam was attracting buyers into the afternoon hours on Monday, and shoppers also showed interest in the Inventory Adjusters Inc. booth, where merchandise was marked down 60 percent.

Popular bead maker Pandora boasted a crowded booth mid morning on Monday, with one employee there saying that the brand's "affordable luxury" is what makes it so popular.

A few booths away, Gabriel and Co. also attracted a flurry of buyers. Founder Jack Gabriel, who started his jewelry company in 1989, said it is the company's wide selection and attention to price point that makes it a hit among retailers.

Indeed, one retailer shopping at the Gabriel and Co. booth on Monday complimented the brand, saying that its merchandise moves in her Philadelphia-area store.

"We do change every day, but we have a wide variety of product," Gabriel said. "We do our own designs."

He said his company has about 10,000 SKUs and produces 1,200 new styles each year, with merchandise starting at $29 wholesale for children's jewelry and charms and going all the way up to $5,000.

Selling well at the show on Monday, however, were the same items manufacturers have been selling at jewelry shows throughout the recession: sterling silver and bridal.
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