![]() At Work with National Estate Jewelry Buyers Ltd.
Libby Barsky THE JEWISH STATE August 21, 2009
Name: National Estate Jewelry Buyers Ltd. Type of business: Buys and sells estate jewelry, gold, diamonds silver coins, collectibles, art, and antiques Address: 212 Route 18 North, East Brunswick; and 275 Route 18 South, East Brunswick. Telephone: (732) 257-4653 Web site: TopPrices4Gold.com Hours: Tuesday-Friday 7 a.m.-5 p.m. Sunday and Saturday 8a.m.-1 p.m. closed Mondays and last Sunday of month. Number of employees: 15 Founded: By family in 1962, incorporated in 1999 Top officers: Barry E. Blank, president How would you describe your business? "We are a company where you can sell your estate jewelry, gold, diamonds at top market price and where you also have the ability to purchase estate jewelry, watches, and diamonds (previously worn) at prices far below typical retail price," said owner Barry E. Blank. "We also appraise and sell antiques, watches, coins, currency, sterling silver, signed jewelry, collectibles, and art objects. We have a graduate GIA gemologists at each of our two stores who also repair estate jewelry. We also work with insurance companies to give appraisals for insurance replacement and to repair or replace, lost, damaged, or stolen jewelry. "We don't manufacture any of the items we sell. All items are all purchased by us at a fair market price, held by law for 72 hours, then offered for resale. Because our diamonds are bought from the public, we are able to sell engagement rings so low, no one can compete with us. What makes your business special? "When we hold parties for synagogues and other organizations we give 10 percent of what is made back to the synagogue or the host charity. For instance, if a synagogue brings in $25,000 the synagogue will receive $2,500. If a congregant can't show up for the event, they can come into our store at any time and mention their congregation and the congregation will receive an additional 10 percent off what's purchased from the congregant. "What makes the business special is the fact that we are a family-owned business doing this since 1962. I grew up in the antique business; My parents had and my grandfather was a jeweler. As a result of background and training at GIA (Gemology Institute of America) and jobs at Christie's -- the worlds largest auction house, I'm very well versed in collectibles and fine arts." What goals do you have for the business? "To expand the business to satellite stores in New York and Pennsylvania. My goal is to be 100-percent consumer-friendly." How has your business changed? "It has changed a lot through expansion. When the first store opened in 1999 (when we became incorporated) it was 11 feet wide by 75 feet long. A year later I expanded that location to have double the space. This year we expanded to a second store to Route 18 South opening two months ago. "The number of employees grew from 2 to 15 employees over 10 years. Now we have two gemologists with one at each store and a watchmaker joining us soon. "The business has also changed with the rise in gold prices, to almost $1,000 an ounce. We have become very busy. We are also doing Cash for Gold events both in home parties and for charities. "Another way our business has changed is that now we are selling engagement diamonds at prices so low no one can compete with us. The rings were originally bought from the public from estates and public and not from diamond dealers." What was your most important deal? "Every transaction is our most important deal. One of the most moving transactions was from a woman who sent me a letter thanking me for the money I had given her (for her jewelry) because she was desperate at the time and considering committing suicide. The money helped her to live. "Our policy is to always make you an offer at a fair price. We never ask you how much you want. It is unethical to ask. Those who ask that question are trying to trick you." What changes do you expect in your business in the next 10 years? "I expect to open a number of satellite locations. I also plan to introduce an interactive Internet Web page where a potential seller can watch their package being opened on my internet site. What is the most important thing you've learned in your business? "The most important thing I've learned is to treat each customer with respect. When you treat your customer with respect, not only are you giving your customer the desired service, it comes back to you many times over in referrals and in continuing business. What advice would you give to someone considering your line of work? "You have to have a passion for people and also desire to work gold, watches, diamonds, and coins. There has to be a real fire -- a love to work with jewelry and other objects of value. People coming to me who want to learn -- if they have the true passion to learn -- they learn very fast without that passion they don't." Is there anything else you would rather be doing? "I love this job. There is nothing I'd rather be doing except perhaps fishing. I love to fish." |