Monday, February 21, 2011

3 Compliments from All That Glitters Customers in 1 Day!

Though we typically ask our customers to send an email when they have received their gemstones and let us know their thoughts, we only sometimes hear back. With everyone being busy, unless there are problems or issues, we don't often receive acknowledgement. In 30 years in this business, we have rarely had any returns; perhaps about 5 in that timeframe. For those returns, it was due to reasons/circumstances which we understand - in one case, the woman lost her job upon returning to work on Monday after purchasing an aquamarine at our show on Saturday. Another involved a ring purchased for someone by their boyfriend; the women loved the gemstone, but didn't care for the design of the setting - so we redesigned it for her! One person was trying to match another gemstone and that can be difficult to do in more rare gemstones, even for those in the trade.

This past week, we received some feedback from our customers; three emails with feedback to be precise. We wanted to share them with those that read our blog.

I just received my Purple Garnet the other day,and it is a knockout! It is truly a very impressive stone. Beautiful color,large size,a real treasure to behold. This is my first order with Allen,and i am very impressed. Not only with the stone. Allen is more than just a professional in his trade. He is a real pleasure to talk to. A real down to earth guy. And very helpful too. If you are thinking about ordering from Allen,i highly recommend that you do. You will not be disappointed! Thanks again! (JF)

Thank you for the beautiful sapphire. I exceeded my expectations. The blue color is outstanding and the color change is remarkable. Anytime I need a gem in the future, I will make sure to contact you. Also, I will recommend you to family and friends looking for an honest gem provider. (RB)

I really appreciate the notice... I do look at your site weekly and at times daily. I love your gems and your customer service is second to none. (BB)

Price Increases in Gemstones Verified First Hand

While in attendance of the Tucson Gem Show (not the retail show, but the wholesale shows), the owner of All That Glitters talked with dealers both in the US and abroad. It was evident in pricing that this is a new market. Russians have been buying over the past year or so, but now gemstones have been selling internally within India whereas gemstones were mostly all exported previously. The biggest change and influence is that China has entered the market, paying whatever is necessary to obtain what they want. All three countries were not considered buyers in this market or even other markets until recently. The Chinese are literally moving the market prices.

Price increases of 50% to over 2000% (that's 20 times) over last year were seen. Though All That Glitters sell gemstones based on prices paid and attempts to price below wholesale, at wholesale or between wholesale and retail, our current prices are outrageously low. We examined similar items 'when' we could find the same size, good color/cutting/clarity, etc. Similar All That Glitters Burmese Ruby was way below what NY companies and one Russian company were asking wholesale. Their prices ranged from 1.3 to 3.5 times (respectively) higher than the All That Glitters price. Since this was wholesale, one can expect to see a 50% to 100% market on material like this in retail stores 'if' one can find similar quality of these rubies. The embargo also affects the price of this material and nothing new has come into the country for years.

The above is just one case. We have also heard that China and other countries are driving up other prices. Corn (and therefore, beef, chicken, pork, cereal) are increasing and the price of cotton has increased to record levels and one will see this in clothing prices. It is expected to increase about 26% or so this year.

With the interest yields of banks/CDs and the option of putting ones funds in the stockmarket, our belief and experience here is that though one may do very well in a few stocks stocks at times, other stocks that are held may be losers, so the end result is that one breaks even after x number of years without even keeping up with inflation,. Fine quality gemstones continues to be a better place to put funds if one buys quality at a good price, and also enjoys what one has purchased.

Welcome to the new reality as other countries become major purchasers of commodities across the world stage.