How to Become a Jewelry Buyer

A jewelry buyer shops for exquisite gemstones and antique costume jewelry for a living. To buy quality goods and resell them at a high profit margin requires the ability evaluate the quality of the stones while predicting the buying whims of jewelry collectors. Although the job of buying fabulous jewelry for resale appears to be glamorous, this competitive field requires years of training and experience. If you have a love for trinkets, a knack for forecasting trends and can recognize great jewelry deals, you can become a jewelry buyer and surround yourself with gold, diamonds and beautifully crafted designer jewelry.

Difficulty: Moderately Challenging

Instructions

1. Research the jewelry buying business to determine your niche. Familiarize yourself with basic jewelry terms like: cut, color, clarity and weight, before becoming a jewelry buyer. Interview top jewelry buyers in your city to gain insider knowledge on how to create commercial profitability buying and selling jewelry. Whether you procure diamond pieces or select estate and antique jewelry for resale, your research will help determine your interest in a particular jewelry niche.

2. Receive training from an experienced jewelry buyer. Apply to a department store's buying program to learn the skills required to be a successful buyer. According to the U.S. Department of Labor Occupational Outlook Handbook, 2008-09 Edition, "retail and wholesale firms prefer to hire applicants who have a college degree and who are familiar with the merchandise they sell and with wholesaling and retailing practices." Large department stores hire employees with specific experience buying jewelry wholesale, so working with an experienced jeweler---for a minimum of three to five years---or completing a reputable buying program is critical to a new buyer's success in the jewelry business.

3. Understand how to recognize real jewelry from fakes. Learn how to distinguish authentic stones from lab-created gems. Whether you use a loupe or a jewelry tester, you must determine the difference between period and antique jewelry from costume reproductions sold as novelty pieces.

4. Learn how to manage a quarterly jewelry-buying budget to select the best items for your customers. Professional jewelry buyers have a specific budget used to buy a piece of jewelry for resale. When selecting a piece of jewelry to sell, a buyer must carefully examine the size, color, quantity and profit margin of the item before buying it.

5. Master the basic skills of buying for a retail jewelry store. A buyer should know how to predict the jewelry buying habits of her core customers, use inventory-tracking software expertly and manage merchandise-pricing cycles to determine when an item's price is ready to be reduced or removed from the sales floor. A buyer should have superior budgeting, the ability to work well with sales manager and superior accounting skills.

6. Learn how to forecast jewelry trends. A jewelry buyer for a department store or small jewelry store must purchase items months in advance. Skilled buyers must learn how to anticipate consumer buying needs based upon current fashion trends, special occasions and holiday shopping seasons.

7. Obtain certification. The Gemological Institute of America (GIA) has an accredited program that trains jewelry professionals. From recognizing trends in jewelry to evaluating the quality of gemstones, the GIA's Accredited Jewelry Professional Program gives jewelry buyers insider knowledge to changes in the marketplace and all aspects of the jewelry buying and selling process.

References

• Bureau of Labor Statistics Occupational Handbook: Buyers, and Purchasing Agents
• GIA: Accredited Jewelry Professional Program

Resources

• Princeton Review Careers: Buyer
• Job Bank USA: Sample Fine Jewelry Buyer Cover Letter