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How can YOU can tell a Great Value Story?
*Tell the 2ND HAND Story!
Tell your customer many of the diamonds are estate or bought 2nd. This gives you a price advantage. Hey, it works for pawn shops. People perceive pawn shops as being cheaper, no matter what the price is because they have a strong value story.
*Tell the LOCATION Story!
Talk about how you just got back from Antwerp or Israel and that you partner with cutters to get the very best deals.
*Tell the QUALITY Story!
This is a tough one. To prove value in quality you must prove you offer a better bang for the buck. Do this by using words such as "when dealing with diamonds of this caliber" or "yes this might be a bit more, but the best always is!"
o you are looking to sell a
THE PRICE OF YOUR DIAMOND DOES NOT MATTER!
As strange as it sounds, the price of the diamond does not matter. They might tell you they saw a cheaper diamond somewhere else, but the more likely truth is that they are not sure what they saw. Even two 1ct GIA G Si1s can sell for thousands of dollars different. How can the customer's compare.
Your customers really don't understand what a diamond should cost. What they DO know, is which diamond seller tells a better story. The jeweler who supposedly has the 'cheaper diamond' probably told them it was cheaper because he bought it 2nd hand, or direct from the cutter. That is why they think it's cheaper! The factory direct store just had a better story than you do. To win the sale, you don't need to be cheaper, just be the better story teller.
STUDY PROVES THAT IT'S ALL ABOUT THE STORY!
A recent study in JCK by Anne Bowers proves that people pay different prices for the SAME ITEM based SOLEY on the story! She ran this experiment. She listed 3 rings for sale. The listings were identical except for one thing. In one she said: she was selling the ring because she got divorced. Another said: she was selling the ring because she worked with her hands. The third said: I'm a jewelry store and we have excess inventory.
On average, with the ring from the store, people were willing to pay about $820. The one with the "hands" got $780. The ring from the divorce got $557. That's a huge discrepancy! Same ring, same diamonds, but what people REALLY BUY is the story.
YOU ARE BEING SELF DEFEATING
You know what your diamonds, gold, labor costs, so in the back of your mind you know it is possible for another jeweler to sell for less. This results in you being sell defeating. Instead, just be confident. A confident value story is the best way to win a sale.
piece of your jewelry? Of course do you want to get the most for it.......and indeed you should!
Jewelers offer options!
