New York City is known for its shine and glimmer, most of which can be credited to the Diamond District. Sean Diamond has grown up in New York City and found his passion for jewelry. He then made a career for himself in it. With decades of experience as a jeweler in one of the world’s jewelry hotspots, Sean Diamond shares the five best lessons he learned in his career till now.
Profits aren’t everything
“Most jewelers try to make the most out of each deal. For me, profits aren’t everything. The pride and joy people get when they wear my jewelry give me much more pleasure than money ever could”, says Sean. Jewelry is a business that involves a lot of expensive purchases and jewelers often finds ways to make a huge cut out of the deal. Sean Diamond has learned that there is more to being a jeweler and that is the pleasure, happiness, and serenity that a client gets after purchasing their favorite jewelry.
Being a jeweler involves risk
“The inventory that a jeweler holds can range from some hundred thousand dollars to millions of dollars. This puts our lives and assets at a risk at all times. We always have to watch our backs and stay alert. One unfortunate event can bring you on the streets”, adds Sean Diamond. Behind all the shine of the diamonds and gold lies a huge security threat that follows these jewelers everywhere they go. Sean explains how one wrong move could make them bankrupt instantly.
Make networks, not collaborations
“Some jewelers work in small groups or pairs. They end up failing instantly or getting into disputes. What I learned as the best way to work is by having a large network. This way everyone knows each other and can help them in times of need. I can easily get my clients what they need with a single phone call if I don’t have it already”, said Sean. The importance of knowing people and being well known in the Diamond District is portrayed very well by Sean Diamond
Jewelry trends change
“Jewelers have to stay up to date with the latest fashion and pop culture trends. Nowadays it is not only fashion giants that start jewelry trends but also pop stars like rappers, singers, and actors. If you do not follow these trends and have old jewelry, it might not sell very easily,” adds Sean. Here Sean brings our attention to the different factors influencing the trends in the jewelry market.
Focus on Long term customers
“Making the most profit out of one deal or not treating small budget clients too well can often lead to no long-term customers. This is a very important lesson that I urge everyone to learn right from the start. Having long-term customers that always come to you when they need something is very important”, he adds lastly. Sean Diamond shines a light on treating each customer with the same value and importance, no matter what the number of their purchases may be. It creates a long-term bond between the customer and the jeweler.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No California Times journalist was involved in the writing and production of this article.