4.16.12

Haggar Announces New Leadership

 

3.19.12

BJA Auctions Antique

& Estate Jewelry

 

2.28.12

Final Phase of Continental GOB Sale

 

11.29,11

Continental Jewelry Closing in Tampa

 

11.15.11

Unico Designs

the look to hold Two-Store retirement

 

3.2.11

Surya Capital in Association with BJA Purchase Robbins Diamonds Inventory

 

11.11.10

Jewelers Could Have

A Happier Holiday This Year

 

8.23.10

Maharaja's Loses Beachfront Store

as Oil Wary Tourists Avoid the Gulf

 

7.28.10

Buxbaum Group Relocates

 

6.29.10

Michael Lebowitz Joins

Buxbaum Jewelry Advisors

 

6.21.10

Lisa Ketrick Joins

Buxbaum Jewelry Advisors

 

5.14.10

Gold-Buying Helps Jewelers

Weather Great Recession

 

3.29.10

Buxbaum Jewelry Advisors

Helps Hoff Family Jewelers

 

1.12.10

Rapid Sale of $1.5 M Inventory Shows  Demand for Value Jewelry

 

6.18.09

Highly successful sale for

Henricks Jewelers Bonita Springs

 

5.06.09

M.J. Christensen Plans To

Reopen Under New Name

 

5.04.09

Filene's Basement Files

For Chapter 11

 

4.29.09

M.J. Christensen

Store Closing

 

4.23.09

Reviewing All 'Available

Business Options’ for Filene's

 

3.24.09

Jewelry Superstore Offers

Huge Discounts In

Going Out Of Business Sale

 

11.26.08

Retailers to Shout 'Value!' from the Rooftops This Holiday Season

 

9.24.08

Buxbaum Forms Wholesale, Retail

Jewelry Liquidation Venture

 

7.21.08

Toys, Games, and Collectibles

Offered at Huge Discounts

 

7.17.08

Dismal Consumer Confidence

Undermines 'Immunity'

of Luxury Retail

 

7.17.08

Gigantic Inventory Clearance Sale

Makes Dream Kitchens A Reality

 

3.12.08

Western Wear Chains Offering Huge Savings at Special Inventory Sale

 

11.05.07

Shoppers Can Expect Quick Holiday  Bargains As Worried Retailers Cut Prices

 

10.24.07

Rosslyn Hotel Renovation

into Affordable and

Market-Rate Housing

 

9.10.07

Retailers's Shift Away

from Purchasing Contracts

 

7.09.07

Buxbaum Group Relocates

to Agoura Hills, CA

 

5.03.07

Downturn Means Uncertainty For

New Breed of Asset-Based Lenders

 

2.22.07

Collectors Art

Going-Out-of-Business Sale

 

11.02.06

Buxbaum Group Announces Senior Executive Changes

 

10.23.06

What Will the Holiday Season Bring

 

10.18.06

Marcos and York Join Buxbaum Group

Asset Appraisal Group

 

4.12.06

Acquisition of Honduran Factory to

Help Indosheen Regain Prominence

 

1.03.06

Buxbaum Group Readies

Indosheen for More Growth

 

11.09.05

 Confirmation Hearing on

Waterman Reorganization

 

10.25.05

Buxbaum Group

Gets Gramicci

Back On Track

 

10.20.05

Buxbaum Group the Key to

Sale of Rampage

 

2.17.04
Buxbaum Group Inventory
Appraisals Hit $5.0 Bil.
in 2003

 

1.7.04
David Buxbaum Named to Local
Airport and Hospital Boards

 

12.24.03

Right Start Stores Now in
Liquidation Mode, As Court
Rejects Offer On Business


12.9.03
Buxbaum Group Inventory
Appraisals Exceed $3.5 Bil.
on Target to Reach $5.0 Bil.
for 2003

 

12.4.03
Inventory Clearance Sales
Begin in All 142 FAO Schwarz,
Zany Brainy, and the
Right Start Stores

 

3.27.03
Buxbaum Group Appraised
Approx. $4.0 Billion
in Inventories in 2002

 

2.28.03
Court Approves GOB Sales
For Troutman's Emporium;
Buxbaum Group, Others
to Run Liquidation

 

GOLD-BUYING HELPS JEWELERS WEATHER GREAT RECESSION AND EMPHASIZE CHARACTERISTICS MOST IMPORTANT TO CUSTOMERS - Buxbaum Jewelry Advisors’ Stevan Buxbaum outlines strategy in Diamonds.net article

AGOURA HILLS, Calif. (5/14/10) – With Wall Street in freefall and fear of a worldwide economic collapse spreading rapidly in 2008, there was no lack of pundits predicting the impending implosion of the jewelry industry. However, even though jewelers—like most retailers focused on luxury items and discretionary purchases—have endured their share of pain since then, most have managed to keep their doors open. A big factor behind that resilience has been the industry’s success in launching gold-buying programs, Buxbaum Jewelry Advisors executive vice president Stevan Buxbaum writes in a May 2010 article on jewelry industry news site Diamonds.net.

To be sure, jewelers are still struggling, notes Buxbaum, a 20-year veteran of directing consumer product appraisals and liquidations for asset-based lenders. While operational tweaks such as inventory adjustments and cost-control initiatives have allowed many jewelers to stay afloat, his article proposes that one of the biggest reasons can be summed up in three words: “We buy gold.”

Skyrocketing gold prices and growing numbers of consumers clamoring for instant liquidity combined to form a “perfect storm” for jewelers astute enough to spot the opportunity and capitalize on it—and many have. The strategy has been “extremely profitable for retail jewelers,” Buxbaum writes. “The smelters are running hotter than ever, so jewelers have no trouble reselling these pieces. In some cases, they are even able to do ‘gold-for-store-credit’ deals—a win-win if ever there were one.”

How big a role has the retail jewelry industry’s embracement of gold-buying played in its ability to ride out the recession?  The Agoura Hills-based Buxbaum Jewelry Advisors had anticipated a tremendous number of store closings in 2009, the article reports. Instead, the firm spent most of last year helping clients turn their retail operations around. About three-quarters of its engagements ended up being promotional sales designed to drive business to existing stores rather than true going-out-of-business sales, with many clients “benefiting from the irrationally high price for gold,” Buxbaum writes.

With cash-for-gold ads popping up everywhere from strip mall storefronts to the windows of mall-based jewelers to cable TV stations—not to mention banner ads streaming across thousands of Web pages—competition for this new profit-enhancing business has been intense. “Fortunately, well-established jewelers have several advantages when it comes to capitalizing on this trend,” Buxbaum emphasizes. “Smart sellers know that the design and craftsmanship of a piece can greatly affect its value. Before they commit grandma’s heirloom ring to the melting pot, they will want to talk to a trustworthy jeweler—someone who can make an informed assessment about whether the piece is worth more than its weight in gold.”

Emphasizing their trustworthiness and community standing in gold-buying ads is a smart strategy for jewelers, Buxbaum advises, especially since the high price of gold has been attracting some shady operators. While “caveat emptor” always applies, and both buyers and sellers have legitimate incentives to strike the best deal they can, jewelers can still steer business their way by emphasizing their expertise, their willingness to educate sellers and the transparency of their transactions.

Of course, gold-buying is not an end unto itself for jewelers. Theirs is a business of creativity, and an astute gold-buying strategy can help support those activities. The jewelry business is about giving customers “stylish pieces at the right price, offering great customer service and mounting smart and effective marketing campaigns,” Buxbaum writes. He adds, however, that as one of many sectors now struggling to make it through a challenging economy, jewelers “must seize any competitive edge,” and gold-buying’s high profitability “clearly is one such point of leverage.”

In addition to the above-mentioned article, Buxbaum also was interviewed in a Rapaport News broadcast segment on Diamonds.net. Besides discussing how gold-buying was helping U.S. jewelers weather the Great Recession, he spoke about the state of the wholesale market, jewelry consumers’ changing buying habits and Buxbaum Jewelry Advisors’ efforts to help regional jewelers such as Colorado designer and storeowner John Atencio boost sales and margins. With the core patrons of Atencio’s five-store chain shifting their focus to lower-priced items, BJA helped him craft a strategy to introduce more-affordable pieces that would appeal to a wider customer base and to develop a new marketing campaign.  To view the broadcast, visit: http://www.diamonds.net/news/NewsItem.aspx?ArticleID=30837

About Buxbaum Jewelry Advisors/Buxbaum Group - Buxbaum Jewelry Advisors has assembled a team of jewelry professionals that have provided wholesale and retail jewelers with financial solutions for more than 20 years. It offers a wide range of services and can meet the needs of both profitable and financially distressed jewelry retailers and wholesalers. It is an affiliate of Agoura Hills, Calif.-based Buxbaum Group, www.buxbaumgroup.com which has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America.

Press Contacts:  At Buxbaum Jewelry Advisors, Stevan Buxbaum, (612) 363-6517;  at Parness & Associates Public Relations, Bill Parness or Lisa Kreda, (732) 290-0121.

Buxbaum Group, Appraisals, Appraisers, Asset Appraisal, Asset Recovery, Inventory Appraisals, Wholesale Inventory Appraisals, Retail Inventory Appraisals, Liquidations, Liquidators, Going Out of Business Sales, Special Event Sales, Turnaround Management, Paul Buxbaum, Stevan Buxbaum, Scott Rusczyk, Jim Siebersma, Chris York, John Marcos, Arnold Rubenstein, David Buxbaum, Steve Buxbaum, buxbaumgroup.com, buxtrade.com, buxbaumjewelry.com, buxbaum.com