b'THE STATE OF RETAIL DIAMONDSJEWELRYCOLORED DESIGN STONEScan handle shipping logistics. standing in their field.The company also provides aThe applications are then reviewed by JEWELERSseries of seller tools, education,1stDibs experts in that field, who evaluate and analytics at no additionalthe quality of the sellers inventory.TAKE cost, including reporting, track- The evaluation process can include ing, and pricing informationrequests for samples, in-person visits to Kuvin has been a 1stDibs sellerbased on the historical sales ofworkshops, audits of social media accounts for about four years. Representa- similar items to the one a sellerand industry editorial coverage. tives for the site approached heris listing. Evaluators may also review during the JA New York show ininteractions with customers. It has a large reach. Its 2018, the year she was featured inAs of December 2021,not only catering to jewelry the New Designer Gallery. CONS 1stDibs said it has more thancustomers, which I think is They came to me, so that wasExclusivity and fine4,700 sellers on its platform.flattering, says Kuvin. It has ajewelry sales go hand in hand,As for its fees, thoseimportant, frankly. large reach. Its not only cateringand 1stDibs knows that, which isexact numbers are not readily to jewelry customers, which I thinkwhy it has the highest barrier toavailable on its website and Emily Kuvin,is important, frankly. entry of any platform listed here. requests for more informationEmily Kuvin Jewelry1stDibs features fine art andThats one of the reasonswent unanswered.antique furniture in addition toit has an application processSellers pay an annual sub-jewelry, and Kuvin sees this widersellers need to complete beforescription fee as well as a com-net as a bonus of being on thelisting their products on themission fee, ranging anywhere from 5 to a steep 50 percent, as per its platform. marketplace. The processmost recent 10-K, while processing fees are 3 percent.includes providing at least twoBasic listings are free with membership, but sellers can pay to references who can verify theirpromote their listings.THE JEWELERS FINAL TAKEHaving inventory available online is a win for jewelers who want to reachIf you want to have a legacy and be able a new audience and bolster salesto continue being progressive, you need to without having to increase their physical footprint. always think of whats coming next. However, the retailers National Trisha Josephs, Josephs JewelersJeweler spoke with had the same piece of advice to share: Dont spread yourself too thin.Jewelers who list on several plat- None of the jewelers interviewed counted sales on these platforms forms have to keep tabs on each one,as a major revenue driver, but still recommended their fellow jewelers making sure to take down items thatgive it a try. have already been sold and keepingI just think you have to fire on all cylinders. You just have to try track of other details to make sure itas many channels as you can, says Kuvin. I really believe theres all runs smoothly. room for everyone to thrive. I dont feel Im competing with otherdesigners. Obviously, were all competing in a big marketplace, but I Another big issue is when theres a price increase and you have yourjust think we should be supporting each other every step of the way. jewelry in five different places, thenFor Josephs, navigating online platforms is key to keeping up with you have to remember to increasethe times.the price in five different places,Im not the most techie person, but Im always willing to look says Eisen. into it because I understand thats what the next generation is doing. All of that administrative workIf you want to have a legacy and be able to continue being progres-can be difficult to keep up with ifsive, you need to always think of whats coming next, she says. a jeweler doesnt have a dedicated team to monitor it.20 STATE OF THE MAJORS 2022'