|
|
 |
|
| Gems & Jewelry |
A Fresh Market for Stale Stones
Jill Newman
01/01/2004
|
"Jewelry is rarely an investment; it is a luxury purchase," Del Gatto reminds us. "But it is a good luxury purchase. Unlike other luxury purchases, jewelry will still maintain its value after it’s been used." A Chanel suit or pair of Gucci shoes, he points out, has little value once it has been worn, while the demand for beautiful estate and vintage jewelry has exploded in recent years as Hollywood superstars such as Nicole Kidman and Catherine Zeta-Jones continue to be photographed in fashionable vintage jewels.
"Jewelry is rarely
an investment;
it is a luxury purchase.
But it is a good
luxury purchase.
Unlike other
luxury purchases,
jewelry will still maintain its value after it’s been used." |
Until now, the estate, vintage and secondhand jewelry supply moved through a web of widespread dealers and small, local retailers across the country. In many ways, these predominantly family-owned companies remain unchanged from a century ago, trading small lots or pieces of estate jewels, constantly hunting for new sources. By contrast, SellJewelry has pursued a 21st-century methodology. "We have developed an efficient system to procure jewelry from around the world and distribute it quickly to the right resources in the trade," explains Del Gatto. "There has never been a national pipeline to funnel large quantities of estate, vintage and previously owned jewelry to dealers."
Del Gatto, a trained gemologist and diamond cutter by the age of 18, possesses a unique, firsthand knowledge of the challenges of finding high-quality estate and vintage jewelry. After starting a diamond-cutting and manufacturing facility on New York’s 47th Street, he sold his business to become a partner in MHR Estate and Fine Jewelry, which purchased jewelry from individuals and wholesalers, then sold it through trunk shows at upscale retailers such as Saks Fifth Avenue and Bergdorf Goodman. Partner Jeffrey Singer is a third-generation estate jewelry dealer who grew up in the industry, and their third partner, Richard Tilles, was an international estate and antique jewelry dealer. It was Tilles who, on a whim, established a SellJewelry website in 1998 as a means of acquiring jewels to resell to the trade. Del Gatto and Singer, who were partners in MHR at the time, allowed their friend to set up a phone line for his new website in their offices. Soon thereafter, people nationwide were mailing parcels of jewelry to sell. The three brokers quickly realized the concept had great potential. "By advertising nationally and establishing drop-off points in key cities, the opportunity to become a national brand became apparent," observes Del Gatto.
|
|
|
|
|
|
|
