Selling Your Jewelry on Consignment

Posted on 24. Oct, 2009 by in Jewelry Business Tips

Selling your jewelry on consignment through shops and galleries can be a nice source of income. But consignment arrangements do bear a risk for the artist, because the shop or gallery owner holds several pieces of your jewelry for which you haven’t received payment yet

Since in a consignment arrangement you (the artist) retain ownership of your merchandise until it’s actually sold, you must take responsibility for protecting your property. Here are a few pointers to make consigning your jewelry safer for you:

1) Many states have consignment laws to protect artists. Each state’s laws are different, so it’s a good idea to check with your state legislature to be sure you know your legal rights and responsibilities before entering into a consignment agreement.

2) Check out a shop or gallery carefully before approaching them about consigning your work there. What kind of care do they appear to give the merchandise that’s already in their shop? Do you like how they display things? Do they already have items that resemble your work? Does the shop itself appear to be well cared for? Is it easy to get to, and does it attract shoppers who are in your jewelry’s target market? When it comes to choosing your consignment shops or galleries, an ounce of prevention is worth several pounds of cure!

3) When you first consign jewelry to a shop or gallery, start with just a few pieces until you feel confident that this consignment relationship will be successful. It’s not a good idea to start out by consigning more jewelry than you can afford to lose, before you’ve had a chance to “test drive” the shop.

4) Use a professional, legally-binding consignment contract that clearly spells out what is expected of the artist and of the shop. It’s a good idea to have an attorney look over the consignment agreement to be sure it doesn’t have any loopholes that could spell trouble for you. In fact, you may want to provide your own consignment contract that’s been OK’ed by your attorney.

5) Consignment shops and galleries can go in and out of business quickly, especially if the owner is inexperienced or doesn’t have a sound business plan. You may want to stick with only proven shops that have been in business for several years, or else consign a small amount of jewelry in a new store that hasn’t had a chance to prove itself yet.

6) It’s important to keep good records of your jewelry consignment inventory and every other aspect of your consignment arrangement with the shop or gallery. This includes having a record of every piece of jewelry plus any jewelry displays you have loaned to the shop. You should also keep a record of when you delivered your jewelry to the shop, how long the shop agreed to keep and display it, the retail selling price, the agreed-on consignment fee for the shop, and your agreement regarding when and how the shop will pay you and return any unsold merchandise to you.

7) Keep in close touch with the consignment shop or gallery once you’ve delivered your jewelry there. If it’s local to you, stop in periodically and check on your jewelry; are you satisfied with the condition it’s in, and with where and how it’s being displayed? If it’s in another town, call or email frequently to check on things. Invest a little effort into developing a good relationship with the shop or gallery owner.

8) Set a specific time limit (for example, three months) for the shop or gallery to sell your jewelry, and state it in your consignment agreement. If your work hasn’t sold within that time frame, arrange to have it returned to you. It doesn’t make financial sense to let your inventory sit any longer than necessary without earning you a return on your investment.

9) Discuss with your jewelry business insurance agent any additional insurance coverage recommended for consigning your work to shops or galleries. This may include damage, loss, theft, liability, etc.

In summary, there are risks and rewards involved in consigning jewelry to shops or galleries. Successful consignment selling hinges on choosing a good shop or gallery for your work, keeping detailed records of your arrangments with the shop, using a consignment agreement or contract, and protecting yourself and your jewelry from the possible risks.

Learn more about marketing your jewelry via shops and galleries at Selling Jewelry Wholesale and on Consignment by Rena Klingenberg.

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Jewelry Business: Finding A Good Sales Rep

Posted on 24. Jul, 2009 by in Jewelry Business Tips

Selling your own jewelry items is very rewarding as an artist, but it can also be so tiring at the end of the day. Now if you wish to have a sales representative, no problem as long as you can afford to pay for the service. But finding a good sales representative is a major challenge. If you are just starting out and your budget is low, let your jewelry be your sales rep until you can afford to hire one. Never forget the importance of hang tags for jewelry, these are always traveling around and if someone bought your jewelry at a craft show, they can still contact you or pass your details on to another client.

There are several options you can use in finding perfect sales rep for your business. You can use publications, organizations, trade shows, and other sources you are actually familiar with.

How to advertise in public and how is it done? Place your ad at the back of a trade magazine. Some magazines have a certain section for advertising or commonly known as classified ads. It is advisable to run your ad several times for optimal results.

There are also agencies and organizations who can help you find a good sales rep. One of the best organizations is The United Association Manufacturer’s Representative (UAMR). They have several services; one of those is helping you find a sales rep. Even though there is payment for the services, it’s okay because they can really guarantee you the most comprehensive process of finding a good sales rep that can help you with your line of business.

Gift shows is one good way of finding good leads of sales rep also. These shows are commonly held in most major cities at least twice a year. These shows are merely for trading. You will have to show some of your credentials to have an entry to the show. You can visit different booths that sell jewelry and find the sales rep you are looking for. Then grab the opportunity of picking up business cards and other information of how and when to contact your lead. Always remember, you can’t conduct interview for sales rep during the show! They are at the show to work, not to be interviewed.

There are still lots of sources you can use. You can visit some marts that have a reps showrooms, jewelry and beads societies, and you can also get from referrals and recommendations. Some resources can be found on the Internet. Keep in mind that finding good sales rep is not as quick and easy as you thought it is. But once you found the perfect one for your business, it will definitely be an additional success for you!

If you can hire the services of a good sales rep, not only will they be able to increase your sales, but will be able to advise you on issues like how to increase home party sales. Depending on their background they may be able to advise you on setting up your online jewelry store, so try to find a rep that has various talents when it comes to sales and does not only concentrate on one area.

If you would prefer you can watch this article in video format:

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