$8 Million Florida Sellout Highlights
Expertise of Buxbaum Jewelry Advisors

Urged on by the likes of personal finance guru Suzie Orman, millions of Americans now separate their "needs" from their "wants" with near-religious fervor. And as struggling jewelers know all too well, consumers tend to regard jewelry as something they should do without until the economy bounces back. How, then, do you explain

Buxbaum Jewelry Advisors’ extraordinarily successful sale last quarter of the $8 million inventory at the Henricks Jewelers superstore on Florida’s hard-hit Gulf Coast.

Beating its volume projections and coming in under budget on expenses, the firm was able to sell every item in an inventory that spanned thousands of designer pieces and quality gemstones at the 12,000-square-foot store in Bonita Springs. “This 60-day sale proved that when customers know they are getting exceptional quality and price, they will spend,” noted Stevan Buxbaum, Executive Vice President of Buxbaum Group.

It also proved the power of expertise. Indeed, the sale faced multiple challenges from the outset. Not only was it held during one of the worst national recessions in memory, but by necessity it also had to be conducted after the close of the tourist season. In addition, Henricks had run a “going-out-of-business” sale earlier in the year. “Shoppers and the media naturally were skeptical when Henricks announced yet another going-out-of-business sale,” notes Gary Jorgensen, Vice President of Buxbaum Jewelry Advisors, which conducted the sale on behalf

of the asset-based lender that took possession of Henricks' inventory at the direction of a bankruptcy judge. "There was a real danger that people would not believe this second liquidation sale was legitimate."

To counter this, Jorgensen's team launched a savvy marketing and public relations campaign. "We did mailings and signage, reached out to the press, hired sign-walkers and placed 250 commercials a week on cable TV for eight straight weeks," he notes. "Ultimately, we beat all of our sales projections and came in under budget on our expenses. Our clients were extremely pleased."

In another highlight of last quarter, the jewelry group was chosen to conduct an eight-week store closing and consolidation sale for nationally known jeweler M.J. Christensen at all four of the venerable retailer's metro Las Vegas stores. The sale, which is ongoing, is proving popular with shoppers despite the slower economic activity in Las Vegas during the summer, Jorgensen says.

When it comes to the near-term future of the jewelry sector, Jorgensen and his team paid close attention to the perspectives of their colleagues in early June at the JCK Las Vegas convention, the industry's largest trade show. "There are a lot of people who have been in the jewelry business forever—50 or 60 years in some cases—and they were all saying they'd never seen an economic environment like this," Jorgensen relates. "But jewelers are an optimistic lot. Everybody is hoping we've seen the worst and that it will be a good Christmas season, relative to last year."

Gramicci continued

lections for less intensive fitness pursuits such as jogging, Pilates or yoga. What’s more, the company expanded its offering of vintage archival Gramicci G-Pant and G-Short designs—accompanied by meaningful wholesale price reductions on these best-selling items. The products are backed up with new point-of-purchase fixtures and Internet Affiliate traffic-driving programs.

"All of this represents 'move the needle' solutions to actual retail business challenges. This is really Being There. It's not rhetoric, it's action," asserts Weening.