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PostPosted: Fri Feb 15, 2008 7:44 am 
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Actually I have two more questions about the Folio.. since you happen to be involved.. and things that really puzzled me:

1) You decreased your price because of popularity. Normally it's the other way around, so what drove the decision to lower prices ? Was it your ability to produce larger batches of books, thus reducing the cost per book ?

2) That leads me to your most loyal base. As we know from politics, it's all about mobilizing your base. I imagine that your most loyal, risk taking customers who invested in the first folio's were not particularly pleased with seeing such a price-slash so quickly after their full-price-purchase.

How did they respond to this ? Did you offer some retroactive-loyal-customer discount to keep that group satisfied ? Or even offer a SUPER bonus as a "thank you" for being the first and creating movement in your portfolio-product so that you have an even more loyal and active base to turn to for a new product launch ?


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 Post subject: Perceptions
PostPosted: Fri Feb 15, 2008 8:10 am 
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ROM: Perceptions are everything, apparently. We're rapidly reaching the point where the paper's value is nearing that of the gem. Sell the sizzle, not the steak, was the by-word in my ad agency days. It seems to work for gems too.


ROM: Perceptions mean a lot. True. However with increasing overload of services, information and ubiquitous advertizing, the need for "personal filters" increases as well. And there are many ways to create trust to become such a "filter".

A sales process based on knowledge, experience, a great consumer experience and service beats any type of paper anytime (obviously not referring to the certificate of a gemlab itself).

But yes, there is no doubt that "brand" has become increasingly important. How you create "your brand" and what it entails is a different matter entirely however :D

So what do I want to say with this is:

Just because you add a 1500 $ book to a jewel, doesn't make you a top brand. Just because an organization offers a 1500 $ book, doesn't mean market dynamics have suddenly changed and a top jewel needs an expensive book.

Focusing on your strengths and building on creative, original, service oriented solutions you have provided in the past is what makes you unique. And that (can) make(s) a great brand ! YOUR personal brand.

A 1500 $ book may or may not fit into that strategy.


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PostPosted: Fri Feb 15, 2008 12:13 pm 
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Patrick wrote:
Actually I have two more questions about the Folio.. since you happen to be involved

I need to qualify that I do not work for the AGTA, nor am I affiliated with the lab; simply friends and great admirer of thier work.

I think most of the points about the JewelFolio were covered in preceding posts and specifically on the AGTA information page. As to the other points, you have to make your own decisions as to the business model that you want to follow. Did I mention somewhere that the Folios are meant for a certain type of stone from specific locations and at a certain price point? In my and other's opinions, the JewelFolio can make that sale successful. That said, I would like to address the perhaps hidden tenor of the entire thread as it relates to gemological expertise.

My unfortunate “coffee table book” (CTB) remark is going to haunt me for a long time; but I will refrain from editing it out since it was just a quote from a stone dealer who didn’t blink at the price and was very inclined to make it part of his presentation.

To produce a CTB such as by the authors you mention, one has to generate significant outlay of cash to get the publication off the ground….and then sweat jellybeans while waiting for the returns to trickle in to pay back the initial investment. Hopefully those also start to pay off the lifetime of investments poured into the expertise that allowed one to produce such a book in the first place and which allow one to proceed further in those realms.

What does that have to do with the JewelFolio? It is a crafted one-by-one by people who have poured decades of study and personal investment to get to where they are now, which is to say, highly respected members of a relatively very small circle of top researchers and gemologists in the entire world – the top labs in the world all boast such members and you have a choice who to do business with. It is their expertise upon which wholesalers and retailers rely on. The cost of having such entities onboard is considerable, just as is the instrumentation and other overhead – one might easily acknowledge the latter two, but don’t forget the first one.

If you are in the trade, you know what goes into selling a finished piece of jewelry to the end customer – you work into the price your cost of business and the cost of the goldsmith’s expertise and all the other experts along the way, with the hope that you have enough left over at the end to make a reasonable living for yourself. If you look at the individual bare cost of the items (metal, paper, minerals out of the ground) that went into that finished piece, does it equal the price tag you put on it? If a designer goldsmith and an “unknown” (one who hasn’t come up through the ranks yet) turn out similar pieces, are they both able to command the same price?

My own focus is in the scientific and educational realms. I also appreciate the qualities that define a gem and justify the prices of the stones themselves and the final product. I believe “Romancing the Stone” is part of the deal. But I also will always defend the value of hard-earned expertise that contributes to the final sale of that stone – my own costs of obtaining my level is in the many tens of thousands of dollars- I don’t often work for free and I expect compensation in return for the outlay -- just as the goldsmith, store owner, website owner, wholesaler, designer……It is what makes the industry survive and thrive.

BTW, my half-century birthday is coming up, I would like to place a request for a Mogok ruby, unheated please and I would really like the JewelFolio to accompany it so I can have each person who had a hand in preparing it to personally sign it next time I see them. In lieu of a ruby, I would be very happy with a really stunning chrome pyrope or amethyst and, if the Fraziers would be kind enough to author me a similar book, please pay them an equal monetary compensation for their lifetime contributions as a small dent into that.


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PostPosted: Fri Feb 15, 2008 3:55 pm 
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Thanks for clarifying your connection with them.. and sorry I had misunderstood your role in it.

You make a lot of good points and I can agree with most of them. Actually I totally agree that expertise, skills etc etc at the top of the market should be rewarded as such.... provided they can be made visible. Likewise, I also do not think many authors make money off a book, but they CAN make money of the increased brand visibility they have obtained. Obviously that is where brand plays a role as you indicated already.

However I AM very bottom line oriented. I do not believe that just because things "should be" the market "will do it". And I certainly do not think other players around the globe will play according to the same rules. Commoditization of what once was specialized is a fact of life. Whether knowledge, or diamonds, or... certs ?

Example: MIT, Berkeley place their full courses online, including notes, podcasts, everything. Courses such as Linear Algebra from MIT is downloaded most and used instead of local courses in many countries. The knowledge that was built up by staff, faculty etc. on what are best practices to educate students and which gave MIT classes an edge is now for anyone to grasp from Pakistan to Amsterdam. There is more to an Ivy League degree than sheer education alone (and obviously that is why they do it PLUS it builds their brand) but it shows "the level playing field" kicking in high gear.

Turning to the costs of the JewelFolio: obviously in a cost benefit analysis things like: "expertise", "quality of work", "presentation" etc should be taken into consideration. My impression is (but correct me if I am wrong) that the general part of the JewelFolio can be covered by any CTB of $ 50-100. So obviously the differentiator lies within the customized items.

The part that is personalized is:
# Detailed testing information on the specific specimen, including advanced tests
# Macro and microphotographs which will separate the specific specimen from all others

So the question is: what would pricing be, if I had that done those two items separately, and added this to any excellent quality CTB. If the personalized items cover 80 % of the JewelFolio costs.. well hey.. ofcourse the general part is sold at a premium, but that is fully understandable, and it's a great proposition. However if the personalized items cover only a small percentage of the total costs than it becomes a different story altogether.

Personally.. I'd find it more convincing it those questions were addressed than their quote: "We have to emphasize the importance of gemstones as true gifts of nature and essential parts of our culture."


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PostPosted: Fri Feb 15, 2008 6:18 pm 
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I deleted my dumb remark.


Last edited by Casandra on Fri Feb 15, 2008 8:37 pm, edited 1 time in total.

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PostPosted: Fri Feb 15, 2008 7:06 pm 
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Wow, this is like watching a College Bowl debate.
Here's my HS interpretation. The Gemfolios are geared towards the same crowd that decides if they want the GPS option with their Bentley purchase. Although it may not be standard equipment, the true enthusiast wouldn't consider not having it as an add on.

If you can't afford it and don't need it, you probably can't afford or need the gemstone it's optioned with.

What's the debate? It can't be value in that market category. Value was already established with the price of the gem. The add on just increases the buyers perceived luxury value.

It's a nice option for those who can afford to enjoy all the luxuries of ownership.


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PostPosted: Fri Feb 15, 2008 7:57 pm 
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Yeah, this is like mink seat covers for your Ferrari.. if it's something you spend time thinking about, it's probably because you have so much money that the added cost isn't an issue. ;)


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PostPosted: Fri Feb 15, 2008 9:00 pm 
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Hmm.. I like the Ferrari... but mink (???) seats... uff.. is this the car version of bling ? :D


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