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November 30, 2009

Buying and Selling Diamonds

I wanted to talk about what we do best here at Samuelson’s Diamonds…buying and selling diamonds. We specialize in diamonds – round diamonds, emerald cuts, radiant cuts, princess cut diamonds and everything in between.  Unlike other jewelry stores selling diamonds, we hand pick each diamond that we sell, whether we bought from an individual, estate, or from a supplier.  One of my favorite things to do after buying a diamond is to study it and recut it to “Samuelson’s Diamonds Standards.”  A large number of diamonds we see are just not cut right, which is a very important to the fire and brilliance of a diamond.  I’m not talking about the the way some companies market “Ideal Cuts”.  You hear that everywhere, but who really knows what it means?  Sure it has a little to do with certain parameters like depth and table percentage, but we work very closely with our cutters to insure that our diamonds look just right to us and then to our customers.

Let me share an example with you.  Recently we bought a 2.62 emerald cut diamond from one of our customers.  It was beautiful color, the clarity was nice, but upon further inspection, we thought we could improve the clarity, cut and overall appearance.  This stone was already a VS1, but it had some tiny chips on the girdle and crown facets of the diamond.  So we took it to our master cutter and let him work his magic.  What was the windup?  We came out with a 2.57 D color (the highest diamond color grade given by the GIA) and VVS1 clarity. (the highest diamond clarity grade besides Flawless).  And we only lost five points.   So there you have an example where we sacrificed a small amount of weight loss for a higher clarity grade and better overall brilliance.  Take a look at a picture of this diamond with two matching .95 carat emerald cut diamonds on the side.

2.57 Center D VVS1 and matching sides

2.57 Center D VVS1 and matching sides

Sometimes, we take an even bigger weight loss to make the stone a different cut completely or even a different color!  Check out this video from a while back where we took an 8.57 off color round cut diamond and turned it into a 6.86 Fancy Yellow Radiant Cut diamond.  On that one we took about a 20% weight loss, but it was well worth it.  Some diamonds on the other hand are not worth recutting, as they won’t hold enough weight.  For example, it’s not always worth taking a loss on a 1.25 carat diamond, as the value will substantially decline once the stone goes below 1 carat, even if the diamond quality is a little better.   So it’s really just a simple optimization of having a bigger diamond, or a smaller diamond that is better quality.  And we always go with the option that will yield the highest ROI. (return on investment)

However, this stuff takes a lot of experience, patience and guts because once that diamond goes on the wheel, you are taking a chance.  Fortunately for us, we use the best and most respected diamond cutters in the world that make our diamonds not only the best diamonds in Baltimore, Washington or Virginia, but in the the best diamonds in the world!

November 27, 2009

Buying and Selling Gold and Silver Coins

Buying gold and silver coins is all about experience and timing.  Gold bullion coins come in all denominations and generally trade basis the spot price of gold. US Gold Ealges, Maple Leafs, Kruggerands, Pandas, Sovereigns, (to name a few) trade basis spot. What us dealers have to do is buy these coins at a percentage of spot and make small profit on the turn.  Here at Samuelson’s, the more volume you have, the higher percentage we are able to pay.

A stack of Libery

A stack of Liberty's

The numismatic coins are the more rare coins and they trade at a premium to the spot price.  Numismatic coins are graded in a measure called MS or mint state. An example is the grade MS65 which is an uncirculated coin. (meaning the coin never entered the normal coin market that people carried in their pockets)  Rare dates and even mis-stamps can quickly become collector’s items.  Those have to be inspected for exact condition or even graded by PCGS, a lab that grades exact condition of the the coin.

So please stop on by with your coins, with gold at an all time high, it’s a GREAT time to have your coins evaluated and sold.

November 23, 2009

The Social Media Train is Coming At Ya

This train doesnt have to stop for anyone.

It has been long clear that blogs and other kinds of  fast-updating media – especially of the text-rich variety have dominated other websites in search.

The formula is pretty simple: New content is news, blogs and public social media produce more new content than even periodicals, therefore to the search engine they essentially produce more news. A standard method of ranking includes a measure of relevance – which for many things will be how recently the information was acquired. The search engine can’t tell Plato from Gawker and add to that a frequency of smaller and more diverse postings (as in Twitter or Facebook,) and you have a recipe for search-domination.

Jennifer Van Grove at Mashable writes:

Essentially what customers, fans, and detractors are posting to social media sites are dominating the brand name search experience over social media content created by the brands themselves. This data clearly creates a legitimate reason for brands to be proactive with their social media presence, as participating in the exchange about their brand should improve the quantity and quality of customer-created social media content that searchers will happen upon.

It is worth noting that this only effects opinion and brand, since these sites (blogs and the like) are less apt to drive sales than product-rich websites. They have a broad but shallow impact. It really makes clear what marketers have been saying about word-of-mouth advertising for a long time, doesn’t it?

Google Social Search is coming!

Google Social Search is coming!

Add to this the emergence – and how soon no-one knows for sure – of Google Social Search, it might just be the moment to be on social media (or the time to stay very, very far away from it!) Which you choose depends on how you interact with customers.

A final note is that Google Social Search requires a person to keep connections in their Google account (which not everyone has or does) so the impact may be spotty for awhile. I’ve experimented myself, and my results tend to be dominated by a few people who are more connected in that way, or who run blogs or comment on blogs frequently.

It is cool, though, in a weird kind of way. What kind of SEO can you do on that kind of stuff?

My brain replies:

To: john

Subject: your posting on Yelp!

Body: Can you please include the words ‘diamond retail experience‘ in your review? Thanks.

Oh! That would be strange.

November 13, 2009

Guest Blog Post: Which Social Media “Expert” are you?

Here’s a funny and informative post by our friend Bridget Forney titled “Which Social Media “Expert” Are You?”.  You can read more of Bridget on her blog http://www.numbersnotinvited.com or follow her on twitter @BridgetForney.

Which Social Media “Expert” are you?

These days, it’s not hard to find an expert on social media. Well, to rephrase, it’s not hard to find a self-proclaimed expert on social media. With the semi-recent craze for all things Twitter, Facebook and web 2.0, everyone seems to be coming out of the woodworks announcing their know-it-all status when it comes to online marketing and poking around the deep dark corners of networking websites. But how knowledgeable are these “experts”? What makes a social media expert to begin with? Which social media expert are you?

There are a few types of “experts” on the web that you may run into when looking for a professional in the social media world. Heck, you may very well be one of these social media experts. Read on to investigate the inner workings of online “specialists”…

The Twitter Expert
The Twitter Expert is one who has a Twitter account, and is probably an obsessive tweeter. They probably follow people in the thousands in an effort to increase their “follower” numbers. The people they’re following most likely will exceed their followers by a number in the hundreds at the least. This expert thinks they specialize in all things Twitter, but they’re likely the type of “I am clipping my toenails right now”-tweeter that you try to avoid. Follower quantity means more to them than follower quality and to credit their expertise, they’ll often boast about the number of followers they have – even though 80% of them are likely spammers. If you don’t follow the Twitter Expert back, they might shamelessly DM you to say, “Will you follow me back!?”

The Business Expert
The Business Expert is one who has an online presence for their business, either on Twitter, Facebook, both or other networking websites. This expert thinks their knowledge of social media is credible due to the fact that they use it for their business. This expert is about as much a social media connoisseur as the person who hands out teriyaki chicken samples in the food court at the mall is an expert at marketing Thai food. Just because you play the game, doesn’t mean you should be a coach.

The Local Expert
The Local Expert is a native to the area and may or may not be a shameless self-promoter. This expert promotes their credibility through the fact that they know the city, the town and what’s going on with the local culture, thus they probably tweet useful information often and may have a substantial and legitimate following. The only problem is, this expert probably learned everything they know from someone else. All of the information they give you is likely second hand knowledge and they may or may not take the credit for it. There is no disputing the fact that The Local Expert is experienced and familiar with using social media applications, but by no means are they social media specialists or should be offering their “services” to others.

The Unemployed Expert
The Unemployed Expert, it goes without saying, does not have a job. For this reason, they can spend unparalleled amounts of time online perfecting their social media expertise. They’re the people you see flooding your update column with useful, and sometimes controversial thoughts…ALL the time. Sparking a controversial conversation with an A-lister is probably the highlight of their jobless day. It’s okay though, because due to those particular conversations, they’re seen and virally heard by hundreds, sometimes millions. At the end of the day, sometimes it’s their social media presence that ends up getting them hired. The Unemployed Expert will likely know social media pretty well, but may or may not know the inner workings of strategic communications specifically for businesses. Ancient Chinese Proverb: He who can market himself, may not necessarily be capable of marketing others.

The Public Relations Expert
The Public Relations Expert is usually a professional in the marketing industry who first stumbled upon the beautiful world of social media in an effort to promote or advertise a client. These professionals were probably the first people online who immediately recognized the power of social media, harnessed its raging potential and used it to their advantage. Whether or not they do it effectively, however, is open to interpretation. The Public Relations, or PR, Expert accredits their expertise to the fact that they use social media for their client(s). This lucky expert has the ability to transfer their authoritative status in the marketing industry over to the world of social media. Some PR Experts can talk the talk, but not all can walk the walk.

The Salesman Expert
The Salesman Expert is generally someone who isn’t at all interested in joining a social conversation, and doesn’t really care about social media at all. This selfish social savant is only interested in selling their own product or service, and their updates will generally reflect that. These Internet marketers will sometimes boast about having the secret juice, the magic dust that will bring you followers. Don’t fall for it. Like a fat person trying to lose weight, the only way to gain followers is by doing it the good old-fashioned way: hard work and (metaphorical) exercise.

If you think your expertise has been questioned here, it probably has. Don’t get your panties in a bundle; it’s for good reason. Step back and ask yourself which social media expert are you? Are you a mixture of a few classifications? Should you REALLY be offering “services” to others on social media? The definition of a social media “expert” should not be open for interpretation. It’s not a grey issue. You either are or you aren’t.

If you’re not sure, a good rule of thumb is to wait until someone ELSE says you are. Otherwise, you’ve just been self-diagnosed. Where’s the credibility? You can tweet about being an expert and others can too; you may even have your own website, blog and newsletter, but the only thing that can qualify you as a REAL social media expert is a PROVEN track record of success. That means results.

I’ll leave you with this ancient Chinese proverb: Keep your broken arm inside your sleeve.
Go forth and tweet,
Bridget Marie

P.s. If you know of an Expert I didn’t list here, please leave me a comment and I’ll add it to the list!

November 10, 2009

Jewelry Buying Event In Washington DC

Update: It seems that many people come to this post from search engines and discover that this event has passed. If you have, we’d like to let you know that we are in the same place in Washington DC about once a month buying jewelry and gold. If you are interested, please contact us and we will let you know the next date and time we’ll be around.

A brief notice:

To better serve all of our Washington DC area customers, we are hosting a jewelry buy at White Flint Mall on November 11 & 12 from 12-7pm. We will be at:

The Jewelry Design Company
White Flint Mall
11301 Rockville Pike
North Bethesda, MD 20895
Lower Level Across from Banana Republic

Please call us at 410-837-0290, contact us or email me personally for an appointment. We are buying diamonds, gold, silver flatware and all jewelry. Here are some examples of what we’re buying:

Estate and Antique Jewelry Engagement Rings and Diamond Rings Gold jewelry and coins

So please make an appointment and I will be happy to help you as always. And, of course, don’t forget to email me with any requests, big or small.

November 5, 2009

What not to do, American Airlines Edition

I’ve often written here regarding social media, and the ‘world’ it inhabits, one of interaction, where instead of carefully choosing interactions with a mind for secrecy, The Incompetence of American Airlineswe carefully choose secrets with a mind for interaction. Obviously not everything can be ‘open’ (to do so would in many cases be more confusing than helpful, as twitter or facebook can often show us) but then the old fortress mentality is both unattractive to public opinion and in this time of rapid advance, often harmful in its effects on business practice itself.

Enough from me, though, check this out:

A FEW MONTHS AGO, I wrote an article expressing my displeasure with American Airlines‘ hideous online presence. I also spent some time mocking up a redesigned version of their website. To my surprise, a user experience designer at AA.com emailed me an amazing response describing some of the design problems faced in large corporations.

An hour after I posted the response, American Airlines fired Mr. X.

Read the whole thing (it isn’t long.) It is sad, perhaps, to have a non-disclosure agreement which prevents what the author suggests is a needed innovation. Sometimes business reality prevents much being done as a result of even helpful commentary from customers, and often for large corporations a comments box is open so that ‘cranks’ (people who are irate) have some place to vent.

But when things are genuinely wrong, or could be better, it is not unreasonable to interact with customers. Granted sometimes this conversation can be harmful rather than helpful – anyone who has seen an order messed up by mistake at say, McDonald’s, can recall how temper mostly just serves to cause the problem to be resolved slower. Especially this is true when the person who receives the criticism has no power to act on it. It would be rather pointless to take the cashier to task in McDonalds for the poor quality of their ketchup.

It is our sincere hope – and we think it is for many other companies – that Twitter, Facebook, MySpace and other venues can be a place for conversations like the one Mr. X got fired for.

Of course, to be fair, the size of the company matters (as bureaucracy tends to scatter power rather than delegate it) and a large company, like AA often has little choice but to keep following its present policies. Internal politics, arcane rules, and just plain human limitation all play roles.

All in all, the new landscape is difficult for those who have the most power in it – in mass media, and in money, it is large corporations. But their method is largely impersonal, and even when their icons work, it still feels like puppetry.

November 2, 2009

Introducing BaltimoreDiamonds.com!

Filed under: Local News,News — Tags: , , — Ron @ 12:32 pm

Site PreviewWe are so excited here at Samuelson’s to announce the launch of our new updated website, with a new URL, BaltimoreDiamonds.com.  I want to thank our team for a job well done.  David and Garth did a great job!  You’ll notice a new homepage, history page, diamond specials link,  and more.  We have a little more to do (don’t we always?) but overall it’s there and we’re ready to rock!  I want to give a special shout out to the crew at Emagine Web Consulting for hookin up the slides for us.  The rest was done IN HOUSE and I’m very proud of the Samuelson’s Diamonds team for a job well done!  Please look around and contact us with any comments or suggestions.  This site is for you, our great customers and friends, so enjoy!

 

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