No Buyer’s Premium President’s Day Auction Event!

Monday (President’s Day), Bidjit Live is holding its No Buyer’s Premium Live Auction (President’s Day) Sale on Proxibid. The auction will begin at 8:00 A.M. (Eastern Time) and the Buyer’s Premium has been waived! In addition, bid increments are only $1.00. The collection includes 1000’s of pieces of jewelry (Click to View Catalog). Among the jewelry collections are rings, pendants and earrings set .925 Sterling Silver set with genuine gemstones. What consumers once thought of as “the next best thing” (silver), has jewelry sellers scrambling to produce product lines that are “price point” conscious for hard economic times. In many cases, the castings (molds) once reserved for 14KT. and Platinum settings are being used to cast fantastic jewelry designs in Sterling Silver.

With the economy in a downturn, consumers are more savvy about how they spend their money. They want a big, bold, beautiful look but, can’t (or won’t) spend their hard earned money on gold or platinum. Yes, offer them big and bold genuine gemstones (in sterling) and they’ll gobble it up at prices unheard of in the industry.

This past summer, the JCK show in New York was not only lacking traffic but, sellers. No one was buying and, even a few major wholesalers canceled their appearance. Wholesalers who used to generate millions in sales, in just a few days, opted to forgo the JCK show. And why not. The JCK show (as most jewelry shows) are expensive to attend. Some wholesalers can find themselves in the hole to the tune of six-figures in just set-up fees, employee and travel costs. In a downward economy, some are simply not willing to risk the upfront investment for the lack of return.

A few of the smart maufacturers (and wholesalers) are turning to the net to generate sales. With less expense in selling on-line, they’ll willingly dump product onto the net in order to move that product out of their stores and take in new product - at lower price points.

This brings us back to sterling sales in a down market. A ring, which would normally sell for hundreds (if not thousands) in 14KT. and Platinum, can be sold for pennies on the dollar, as it offers consumers the big, bold look for pennies on the dollar.

Even in a bad economy, consumers will continue to buy jewelry, however, they won’t forego paying the mortgage and car payment to buy luxury items. Sterling Silver set with genuine gemstones is NOW the new trend.