Jewelry store consignment: what you really need to know

A jewelry store is ready for your jewelry. Jump-start your consignment deal.

After judiciously doing your market research you should now have at least 6-10 jewelry shops in your list. Before doing anything, keep in mind these must-do´s:

• Know your rights and how a consignment deal “should” be,
• Plan a strategy to approach the jewelry store,
• Have ready and handy all the things you will need to make the deal and leave your jewelry there,
• Foresee the conversation with the shop or gallery owner / manager, know exactly what you want and what is not negotiable for you,
• Always finish with a written consignment deal signed and keep a copy for yourself.

Approaching the jewelry store

• Calling the jewelry store owner or manager and making an appointment,
• Walking in and presenting yourself to the owner or manager, while having some of your jewelry ready in a tote bag or in the trunk of your car,
• Coming in the store as a customer and unwittingly “letting them know” that you are a jewelry designer and happen to have some of your stuff with you to show them.

Some jewelry shops and galleries prefer making an appointment with you, it’s usually the best approach and looks more professional.

At the day and time of your appointment, do have ready with you:

• Should I mention it? Yes, your jewelry,
• Calculator,
• Pens and pencils,
• Your packaging (with ribbons, stickers, price tags, business cards, etc)
• An inventory sheet (ready to be filled in with the following information: your name, contact information, date, name of the shop, name of owner or contact and a table showing: number of items, description, unit price, total price)

Negotiating the deal

“Read” the person’s face to see signs of approval or the opposite; tell them the stories behind each piece, how you made them, why you thought of that specific design idea, where you learnt your craft.

Be attentive to their questions too, and give them enthusiastic answers. It’s the time to sell yourself and your jewelry, be honest but don’t downplay yourself.

It’s also a good moment to tie in questions or comments about prices and terms of payment. Never accept “exclusiveness”. If they do want that, they should buy your jewelry up-front from you.

Negotiate the terms of payment with the gallery owner. A 50/50 deal is not recommended. Ask about their payment schedule, when and how they will pay you (Do they pay monthly? At the end of the month? Will they transfer your balance to your bank account or do you have to pick up a check?).

All terms of payment are negotiable. If the owner or manager seems too reluctant to negotiate, you could be better off showcasing your jewelry somewhere else.

Don’t be shy to ask about the sales people, and how well educated they are about jewelry and about the process of selling it.

Also talk about taxes, theft, damage and any other “uncomfortable” topic. You should be absolutely clear about everything, don’t go away with doubts or unanswered questions. The store should be responsible for items being stolen or damaged.

If the store decides to take your work “off the shelf” you should be contacted immediately; you may decide to take your work back or let the store exhibit it again in a few weeks time.

Marketing, promotion and publicity are all vital selling strategies that you need to know, ask the jewelry store owner about their promotional efforts and how they affect you (your previous market research might have given you hints about this).

You could even talk about the possibility of having a special exhibition of your work and you could help out with the list of invitations.

Remember it’s not only about having your jewelry sold, but having yourself marketed as well.

Be creative regarding how customers might know about you. For example, you could agree with the shop owner to be in the store in a busy day to greet customers and explain your jewelry to them (you could even sign and write a little something on your business card to every happy buyer).

The agreement

Always have this agreement or consignment contract in writing and signed.

Keep a copy for yourself as well as a copy of the inventory you’re handing over. Ask the owner if it’s ok with them if you stop by from time to time to see how the selling is going on.

Make sure you leave all your contact information to the shop owner and to the sales people.

You should be readily available if any new commissions come up or to satisfy customer’s needs.

You can also suggest different or new ideas as to how to display your jewelry for best sales, if the jewelry store owner feels ok with this.

The Professional Guidelines Committee (SNAG), have made a model consignment contract that has great information about making a consignment deal and also has a contract blue-print for your information.

You can download the PDF at their web-page here. This will cover all the basics about the deal that you’ll need.

After leaving your jewelry, don’t just forget about it and wait for the check to arrive.

Building a relationship with each jewelry store is vital for your professional development. Here are some ideas for you.

A summary of do´s and don’ts of selling jewelry are listed here.

Although consigning is a good way to start selling, pricing well your jewelry is critical for your success.

Read this article about pricing your jewelry and learning a simple pricing method and how to calculate your costs. Your proceeds from consigning your jewelry (the % you gain) should pay for all your expenses and pay you as well.

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