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An Outsider’s View of an Insiders Industry

Jul 14, 2011

Some reflections about my first month with Samuelson’s

I have now been with Samuelson’s for a full month. Not only have I learned a lot about buying diamonds, gold and silver from the public but I have also learned a great deal about the retail environment for the luxury segment. I have developed a few thoughts and opinions about what I have witnessed and learned thus far.

I never knew that the competitive landscape of the buying business was as cutthroat as it is. Not to mention the ever-growing amount of competition in the market. However, I have heard overwhelming feedback from our clients that we are the most fair, patient and cleanest operation around.

Today was one of the most interesting days as the largest silver transaction I have witnessed was just processed. I must say that processing silver is by far one of the most tedious processes. However, it is nice to see how educated and enthusiastic our clients are in Chevy Chase. Additionally, every seller has their own story, as do the coins or bullion they are selling. In a backwards way, each transaction contains a bit of a history lesson. I also never knew that bags of silver trade for different prices when compared to spot silver…did you know that?

When it comes to diamonds, I never realized how many people expect to receive the appraised value for their stones. My guess is that approximately 20% of the people have walked into our Chevy Chase office this way. We take pride in educating our clients about the diamond market so that they are more informed to make an educated decision about selling their stones. After we go through the Samuelson’s process, our clients understand the diamond market and how the process works. It is great working with people that are honest and willing to share some insider information about the diamond exchange otherwise known as rapnet.

Having mentors like Ron Samuelson, David Dannenbaum, Paul Bogat and Steve Samuelson have made the learning curve for such a dynamic industry significantly easier. The knowledge and vastly different areas of expertise that each person possesses has made the first month truly exciting. I look forward to developing many exciting campaigns for our clients/consumers and continuing to have fun each day at Samuelson’s Diamonds.

Dave Levin
Director of Marketing
Samuelsons Diamonds

david.levin@baltimorediamonds.com

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