How We're Revolutionizing the Jewelry Industry
It all started with a bracelet for my wife.
Years ago I purchased a $1,700 blue topaz and sterling silver bracelet for my wife from one of the most famous jewelers out there. It was nice. But why $1,700? What gives?
So I went to Bali and asked a jeweler if he could make me the same bracelet. I thought why not go out all out, so I asked him to make it just a little bigger and a little nicer. The jeweler delivered. But it was the price that struck me the most-$60! Almost 97% less than what I paid. It was at that moment, the idea for Stauer was born.
Since then, I have validated the experience with my wife's bracelet (expensive doesn't = quality) over and over again. Simply put, how jewelry is sold in the U.S. is outrageous! Customers are being charged exorbitant prices--not for the jewelry--but for fancy shops, fancy models, fancy parties and fancy advertising.
The fact is, the cost of what it takes to make a lot of the jewelry out there is nowhere near what the jewelry companies are charging you. Every time I get an amazing price on emeralds, rubies and other precious and semi precious stones and then see the same stones in jewelry stores priced 5 times higher I become more and more exasperated with the jewelry industry.
The average jewelry store in this country does about $1 million in sales a year. They buy from wholesalers. Wholesalers mark up their product about 50%. The store also marks up the price about 50% so that means for an $100 item (at cost) you're going to pay $400 at least, if not $500 or $600!
Here's the Stauer difference: We don't have wholesalers. We go directly to the source. And we use our own designers to make the product ourselves. We don't pay rent for fancy shops so we're able to go out there and do it in a very big way. Last year we bought 2 million carats of emeralds and 9 million carats of amethyst. The local store might buy 20 or 30 carats a year. We buy literally 100,000 times as much as these stores do on these precious stones. Do you think we got a better price?
So who do you think is getting the better deal? We are. And so are you. Because at the end of the day, true value comes from leaving $1,600 in your bank account and still being able to own one of the best pieces of jewelry out there.
President - Stauer