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Management Report For Woolworths Uk

Business Strategy

Introduction
Woolworths was a company that was started in the year 1879 in the City of New York. Its founder Frank Woolworth was interested in offering a one stop shop for a wide range of commodities at an affordable price. He transferred this same concept to the United Kingdom thirty years after establishing the same stores in the United States. He was well received in Liverpool with enthusiastic shoppers thronging the premises.

However, the retail chain store industry has undergone numerous dynamics and Woolworths seems to be a victim of these circumstances. The report shall highlight some of the internal and external challenges that have affected the company. Additionally, an analysis of the company will be done with reference to the theme of globalisation and recommendations for improvement given as a result.

Description and analysis of the internal and external factor to which Woolworths UK is subject

1)Internal factors
Woolworths is affected by some human resource based issues plaguing the retail industry. For instance, some clients have asserted that before purchasing items in any retail store, they usually consider behaviours of the stores employees. Woolworths has received numerous reviews about this aspect. Consumer surveys have indicated that a half of retail purchasers are happy with Woolworths consumer service while the other halves have asserted that their employees are rude. Consequently, the company has to work on the latter percentage. (Hammer and Champy, 1993)

Marketing strategies are crucial in running any business. For companies to dwell in the retail sector today, they need to portray a clear theme in their advertisement and marketing strategies. Woolworths marketing manager asserts that the companys marketing strategy is largely centred on three major categories and these are;
Family
Entertainment
Home

These three themes are what make Woolworths stand out. However, other critics assert that Woolworths is severely lacking in this area. They claim that while other retail chain stores are distinct and stand out depending on specific themes; Woolworths has nothing special that makes it unique. Consequently, this is a marketing or branding issue that will affect future decisions made by Woolworths.

Demand determinants are also instrumental in determining how Woolworths performs in the UK market. There are a number of things that UK consumers look for when shopping in retail chain stores and some of them include
Convenience
Quality of items
Price
Brand recognition (Chopra and Meindl, 2000)

When one talks about convenience, they are referring to the ease of reach with which one can find commodities in retail stores. This is usually depicted by the manner of arrangement. When commodities are arranged haphazardly, then customers may not be enticed to come back there. Woolworths seems to have failed in this regard because many consumers complain of its haphazard nature. For instance, when one steps into a Woolworth store, they are likely to find childrens costumes placed together with table mats and the table mats may be placed alongside video games or other kinds of things. Consequently, it can be argued that Woolworths sense of appeal in terms of convenience is quite wanting. However, it can also be argued that this haphazard arrangement is what contributes to Woolworths uniqueness. This is because it is kind of a spur of the moment alternative rather than a distinct kind of arrangement. (Price Waterhouse, 1995)

On the other hand, convenience can also be assessed through a stores location, when stores are located in busy streets or in accessible places, then demand for ones items may increase. Woolworths may receive a plus for this aspect because their stores are conveniently located and one does not have to look for parking to get into their stores.

Brand recognition and quality of items are an important demand determinant. Once a company fails to deliver in terms of these parameters then there is fertile ground for failure. Woolworths have been praised by some consumers for their high quality items. However, there are still other buyers who have not been satisfied with their commodities claiming that they are a jack of all trades but a master of none.

Lastly, demand for commodities in this industry is affected by the price of its commodities. In analysing whether Woolworths is doing well, it is essential to look at what other companies in the industry are doing. Most of the commodities offered by Woolworths are sold by other competitors such as Asda and Tesco at cheaper prices. This means that Woolworths decisions need to be changed to respond to these challenges.

2)External factors
One of the major external factors affecting Woolworths is closely associated to its operating aspect. The retail chain industry is quite a huge industry since the numbers of stores located in the UK are numerous and this means increased competition for Woolworths. Additionally, the industry is not export oriented. Most products are sourced from outside and then bought into the region thus making players here to become susceptible to international forces that may sometimes be difficult to predict.

It is also interesting to note the fact that the retail chain industry is slowly being outcompeted by supermarkets. Times have changed over the past few years and the sale of non household items within the retail industry is no longer a reserve for companies such as Woolworths alone. Supermarkets which were once associated with the sale of food alone now offer almost all household items under one room. This increased competition from other categories of business has affected the overall productivity and performance of the company. (Porter, 1985)

Market size is an important factor that affects the any kind of business. This is largely because the rate of growth of the market largely reflects the amount of consumers available to purchase ones time. Statistics indicate that the UK retail chain sector is slowly reaching saturated levels. There are stores for almost every type of product under the sun. For instance, when one is looking for old suits then they may choose the option of going for Argos, when they require music CDs, then they have the option of going to Zavvi. Consequently, Woolworths is placed at a position where they are competing for a stagnating market i.e. one that is growing at very low rates yet the number of industry players is on the rise.

Other external factors affecting Woolworths decision making processes are also linked to the way they go about making their personal decisions. For instance, the issue of taxation is quite important in determining whether Woolworths succeeds or not. Since it depends on exports for most of their commodities, then the company is affected adversely by international tariffs in trade. However, it should be noted that the retail chain store sector is not highly regulated by the UK government and this is a plus on the part of Woolworths.

Globalisation
1)How globalisation influences policies and decision making at Woolworths UK
Enterprises and corporations alike are highly influenced by the concept of globalisation and Woolworths is not an exception. Before critically analysing this issue, it is essential to clarify its meaning; globalisation is defined as the increased level of contact between a certain entity and the rest of the world, through globalisation, mutual understandings, personal friendships and world citizenry is created. However, in terms of business entities, globalisation may not be a positive. This is largely because it causes increased competition which may be difficult to out manoeuvre especially when one lacks the capacity for change.

Woolworths UK was a brainchild of the US based subsidiary. Consequently, it had transferred knowledge and business structures from that part of the world to the United Kingdom. This meant that the company ought to have created a local solution to the local UK environment. Local marketing appeal for international companies such as Woolworths is crucial in succeeding in their market. This can only be done by incorporating all the external and internal factors. The United Kingdom was not the original company base for Woolworths; consequently, they needed to look for ways in which they could adopt to the local culture in the UK.

The UK consumer culture has changed dramatically over the past few years. This is as a result of increased levels of exposure brought on by information technology. Consequently, consumers are well aware of their rights and they also know where to find cheap bargains. This is actually the reason why Woolworths has not been performing very well; most consumers want a retail store with preset themes or one with cheap products.

Since so many other retail stores are available, then Woolworths has been pushed to the periphery in light of this competition. It should be noted that globalisation has played a large role in promoting this information driven consumer culture. Through interaction with other parts of the world, the UKs technological status has dramatically improved. People can get important retail information at the touch of a button and this makes them very choosy. In other words, globalisation has boosted information technology which has heightened consumer awareness and thus diminished demand for Woolworths products which do not represent the best value for money.

Globalisation has highly affected shopping behaviour among a series of consumers owing to the fact that it has promoted more job opportunities. Many UK consumers are constantly moving form country to country while conducting business, getting educated or working for a certain multinational. This therefore means that globalisation has created situations in which the UK consumer has very little time in his or her hands. People are now working for more hours and most of them have very little spare time for themselves. What this means for Woolworths is consumers also have little time to spend in their retail outlets. When going for shopping, buyers may be interested in spending as little time as possible in such outlets so that thy can get back to their busy schedules. Decision making in Woolworths must be such that it centres on meeting this need to save time when purchasing. (Kubeck, 1995)

Globalisation highly affects the productivity levels at Woolworths through its supply section. This is because now Woolworths and other retail chain stores have a wider supply base to choose from. They can source their commodities at a cheaper price from other countries of the world or they can locate high quality goods from suppliers in continents. Depending on how Woolworths reacts to this, global supply sourcing can either be a positive or a negative. It can be positive when good suppliers are chosen. However, it can be negative when Woolworths has been outcompeted by other retails who manage to get cheaper goods at lower prices.

Globalisation has also raised the level of competition among various industry players in the retail chain store sector. This is because globalisation favours growth of multinationals. The UK is plagued with a series of multinationals such as Tesco, Wal-Mart, Asda and many more. These multinationals create greater competition because of their diffused processes and also because of greater network structures, greater flows of information and hence greater productivity.

Lastly, globalisation has created fertile ground for outsourcing of jobs. The new buzz word was largely associated with the manufacturing sector where most businesses chose to outsource their manufacturing function to Asian based countries such as China and Taiwan. The retail sector is also involved in this buzz word because a number of their suppliers come from the Asian continent. They have chosen to outsource this aspect to other parts of the world so as to promote their level of competitiveness.

2)Critical evaluation of the effectiveness of the organisations response
Globalisation has promoted greater adoption of information technology and thus a more informed consumer. This kind of consumer is less loyal to particular brand unless that brand offers good quality or value for money. Woolworths has also been slow in responding to this aspect of globalisation. Since the consumer is more informed, the company should have worked on their prices and it should also have taken the time to check the quality of their commodities so that they can increase their client base. Woolworths still has a long way to go in handling these challenges.

It can be argued that Woolworths has not responded as strongly as it should to forces of globalisation. As it has been asserted earlier, many consumers are now engaging in more work and have less time to shop. Consequently, Woolworths store formats should have been changed to meet this need. Compared to other retail outlets in the United Kingdom, Woolworth is yet to catch up with the rest in terms of in-store organisation. More often than not, consumers may not be able to find what they are looking for in a Woolworths store unless assisted by one of the employees. Consequently, this takes a lot of time and may prompt some of them to choose other stores. (Scheer, 1999)

In terms of sourcing for suppliers from other parts of the world, it is imperative for Woolworths to awaken to the possibility that other retail chain stores in the UK are doing much better than they are. This is largely as a result of the lower prices that some of their commodities are grouping for and also because of a result of greater investment in dependant supplier who offer high quality.

Woolworths may have been overwhelmed by the increased competition facing the retail chain industry from multinationals. Globalisation has created sound operating structures for facilitating better productivity and this has given greater precedence to these large multinationals. Woolworths is supposed to be competing with the multinationals by offering products or services that whether they meet or exceed the offerings in these multinationals. However, Woolworths has not responded as quickly and assertively as it should. The company therefore needs to look for other ways in which they can promote this development through sound service delivery. (Sterman, 2000)

Woolworths has responded to the need to outsource by getting some of their goods from the Asian continent. However, compared to their competitors, this company still has along way to go in terms of being at per with its competitors. Most of the time, the company relies on European based manufacturers for their commodities or their in store brands.

Conclusion – Areas for improvement in the response of the organisation
Globalisation is eminent in almost all spheres of the UK economy. Consequently, companies that fail to react swiftly to this phenomenon are bound to be left behind. Woolworths has debts of three hundred and eighty five million pounds as of mid 2008. This poor performance is further illustrated by the figure below depicts its performance over the past few months. Its shares have been on the decline.

Source; (Eriksson and Penker, 2000)

In order to boost its performance in the global arena, then Woolworths needs to change a number of things. First of all, the company needs to respond to the need to save time this can be done by more orderly arrangements of their commodities in their stores. Secondly, the company needs to take greater care in terms of sourcing better quality items. Consequently, the company will do much better in the retail industry by placing greater precedence on this matter. (Eriksson and Penker, 2000)

On top of the latter, there should be greater emphasis on the adoption of information technology especially with regard to the use online sales. Also, they need to embrace the fact that their brand is barely recognised among future market segments. The company has to work on adding value to their name and making their services easily recognised.

References
Hammer, M. and Champy, P. (1993): Reengineering the Corporation – A Manifesto for Business Revolution; Harper Business Book
Porter, M. (1985): Competitive Advantage – Creating and Sustaining Superior Performance; Free Press
Price Waterhouse (1995): Change Integration Team – Best Practices for Transforming Your Organization; Irwin
Scheer, A. (1999): ARIS – Business Process Frameworks; Springer
Sterman, J. (2000): Business Dynamics: Systems Thinking and Modelling for a Complex World; McGraw-Hill
Kubeck, L. (1995): Techniques for Business Process Redesign – Tying It All Together; Wiley-QED Publication
Chopra, S. and Meindl, P. (2000): Supply Chain Management – Strategy, Planning and Operations; Prentice Hall College Division
Eriksson, H. and Penker. H. (2000): Business Modelling with UML – Business Patterns that Work; Wiley

What Exactly Is Car Audio

Car

Driving to work, to travel by car on weekends, late at night walking on the highway when driving, if you really like the way the music to accompany, how ya it would be intended to do. But without a decent car audio equipment, how can we feel to do this ya means? I have done research in the country, found that many people are very strange car audio, over 90% of people in the car before the car stereo perception is very vague, and even some car owners in a couple of years or less understand the complete structure of car audio.

So, what exactly is car audio?

In fact, car audio and home audio, sound stage, similar to essentially restore the sound and video equipment, also has a sound source (CD, DVD or DVD, etc.), preamplifier, amplifier (also known as power amplifiers), speaker (also known as horn) four basic parts.

As the depot cost reasons, that match the original car audio car audio usually, preamplifier and amplifier together (that is, we usually say that the host), then the whole tone matched normal speakers complete a basic system to meet the basic Some high-profile and high-end cars will have separate speakers and a dedicated subwoofer (like the crown, Audi, etc.). As technology advances, new sources and continue to integrate practical features, like navigation, Bluetooth communications, vehicle diagnostics and other functions, on behalf of the brand has made Huayang, day camp, fly rhyme, Philco and Japanese Panasonic , Alpine, Pioneer, Kenwood, etc. With the rising demand for car owners in Europe and America focus on the speaker, microphone and preamplifier developments in the field of professional car audio brands continue to be imported into China, such as the Department of Man-piano Europe, Tanner, rainbow and U.S. Department of Radford, Golden Phoenix etc.

Car audio and home audio and what is the difference?

As the car special use of the environment, car audio and home audio or has a very clear distinction. First of all, car audio need to withstand temperatures typically in the range -20 degrees to 80 degrees, relative to the room temperature is used in home audio, will be strictly a lot. Second, the interior space and seismic requirements, car audio usually lightweight and integrated, more sophisticated than home audio. Then, the location of car speakers in the doors and dashboard often, and home stereo’s display of a very big difference, car audio sound field requires a special design. Finally, the use of vehicles 12-volt power supply, current is relatively limited, car audio need special low-voltage, low current and low-impedance design. So, if you buy your car audio than home audio expensive, is actually a relatively normal thing. Overall, home audio car audio is different from a professional field of study.

We really like how the car stereo it?

Choose a suitable car stereo is actually a more complicated issue, will involve you like the sound of orientation, to help you with car audio sales staff aware of your needs, the current mainstream car audio market, schools and the branded products, and your choice of professional installation shops in many other issues. Today, we are first on what kind of car owners actually like to do a simple audio discussion.

China in the past the school, teaching equipment and teaching staff as the restrictions, it is difficult to complete the student’s music education system, our understanding of music is usually Lingding and one-sided. The growth of each person in different environments and lifestyles, but also allows us to music and car audio for that demand a relatively large differences. Currently a larger problem is that owners often do not understand or do not easily express their needs, in fact, the problem still rules to follow. Such as the nightlife like often go to KTV and bar owners, due to the impact of this environment, usually a perfect interpretation of the requirements can be dynamic and focus on electronic music in the low frequency of car audio. And like their musical instruments and car owners like to go to concerts, classes focus on listening usually needs to restore the true sound of car audio. And life is the law of the owner, will focus on car audio sound quality, and now mainstream music lovers tend to light, transparent, bright musical expression.

Therefore, we choose to sound, we also need to think about, what their favorite kind of car stereo do?

Car audio conversion in the understanding of the basic form and structure, the more the owner needs is based on location. These pictures are from the modified car owners do not have style, we can see a completely different genre, classical, modern, stylish. And they never deviate from them, they will be after the trunk was fully utilized, and this is a high-level play area car audio, we will in the future to introduce the curriculum.

Car Buying Tips For Used Audi S3

Car

The Audi S3 is the enthusiasts edition of its more conservative sibling, the A3 hatchback. First produced by Audi in 1999, the second-generation car, launched in 2006, is significantly more muscular than its predecessor. Using the same floorpan as the VW Golf, the Audi S3 offers standard quattro four-wheel drive plus plenty of power and a great chassis to deliver sure-footed performance whatever the road. This article aims to provide you with some information related to buying the used Audi S3 car.

Purchasing a used can be a painful experience, but it can go much smoother if you follow a simple set of rules and checks. This article aims to provide you with all the advice and information to make the right choices when buying a second-hand car. In this guide we’ll explain how to buy a used Audi S3 car that is as safe and reliable as a new car – at a fraction of the price.
Browse the areas below to arm yourself with all the information you need to make the successful purchase of the S3 as your dream car.
Important Car buying checks:

View our five essential safety checks you need to make before buying the used S3.

1. Know the history of the used S3:
Make sure to check the used S3s history before buying. Vehicle Check provides you with peace of mind that you’re making the right choice.

2. See the car:
Test-driving the used S3 helps you decide if it is the right car for you and also if this particular car is in good condition. Once you get behind the wheel, ask yourself if it is a good fit for your requirements.

Exterior Looks
The purposeful looks of the Audi S3 hatchback work even better in Sport-back form; the extra length and rear doors give it a more grownup appearance.

Accessories
The equipment includes Satellite Navigation System Plus (1,615) which gives the S3 the level of equipment it deserves and should help resale value. It has a 6.5-inch screen with aux-in socket, radio, DVD and 2 integrated SD card slots. The Audi Concert CD player and radio comes as standard.

Performance
The 2-litre turbocharged engine found in the S3 hatchback and Sportback is an evolution of the motor found in the Volkswagen Golf GTi, Seat Leon Cupra and Audi TTRS. With 261bhp and 258lb/ft of pulling power its significantly more powerful than the Golf GTi, thanks to a larger turbocharger and reworked engine and exhaust components.

Practicality
Sporty hatchbacks dont ask drivers to compromise much in the area of practicality, and the S3 Sportback is even better than most. It has a head start by offering five doors instead of three and there is more rear legroom than in the S3 hatchback. It has the proportions of a small estate car and its boot can swallow 1,032-litres of luggage with the rear seats folded or 302-litres with them in place.

3. Used Audi S3 Valuation:
Check the market value of the used S3. If it looks too good to be true, it probably is. The value of a used car is based on its condition, mileage, reliability, performance and popularity. Of course you want a car that is reliable and performs well.

4. The visit:
Always visit the seller at their home address. Dont arrange to meet them at a motorway service station, a lay-by or any other address aside from the one where they live.

5. The paperwork:
You must check the V5C document of the used S3 car. Also check the service history, MOT etc. Do not accept photocopies of these documents, they should be original.

These checks will help you know more about the car you are buying and you can be sure you have made the right decision. It is best to make comparison on various used Audi S3 car prices and then summarize these prices against your requirements.

Mens Fashion – Find Out What Suits You Best

Men Fashion

Bored of the clothes that are there in your wardrobe and don”t wish to spend loads of money on new clothes? Then one of the best ways to make your wardrobe appear trendier is by adding men fashion accessories to it. Adding accessories like luxury scarf can make a huge difference to the regular clothes that you wear and make you look stylish. The best option is to choose an accessory which suits your style statement and use it along with your regular formal wear and casual wear.

There is a range of men”s fashion accessories that are available these days and are suitable for the fashion conscious men. Accessories like luxury scarf, mens designer socks, ties and other such things are available easily. This gives you the choice to pick the accessory which can be a part of your fashion statement and suits you.

If you are looking for something that suits your formal wear then you have options like mens cufflinks. The handmade silver cufflinks are quite in vogue and are perfect for the metro sexual men. It matches all kinds of formal wear and business wear and would suit your collection perfectly.

Mens designer socks are also highly popular and can suit everyone. These men fashion accessories can be worn with your casual wear and your business wear as well. These days” special mens designer socks with tie sets are also available, which says a lot about your fashion sense. These tie and socks sets are perfect for gifting purpose as well.

The silk scarves are also very popular with men and can be worn by men of all age group. You can also include luxury scarves in your wardrobe and wear it in different styles. There are different ways to tie the luxury scarf and match it with your wardrobe. It is one of the popular men fashion accessories which can make your regular wear look highly fashionable.

These fashion accessories suit men of all ages and can makes them look smart and trendy. The handmade men”s accessories from Italy are especially very popular. The reason for their popularity is that the designs and the colors used for these accessories are always in style and therefore they look trendy. At the same time, good quality silk and raw material is used for making them which makes them more durable. Thus investing in these fashion accessories can turn out to be very useful.

Collecting Vintage Jewelry

Jewelry

As the gold market continues its strong performance, dancing around the $1,000-per-ounce mark, more collectors are turning to vintage jewelry to add a unique touch to their wardrobes. Vintage jewelry expert Jill Burgum of Heritage Auctions in Dallas, Texas, gives advice on how to make sure your money is well spent.

Q: What’s your best advice for beginning jewelry buyers and collectors?

A: My most common advice is don’t be afraid to ask questions, whether you are buying from reputable dealers or from shops. There is also a lot of information you can find online. The Internet is a great way to educate yourself. Also, don’t expect that a modern jewelry seller or store will know much about vintage or estate jewelry. They often don’t because it’s simply not their market.

Q: Does “antique, vintage or estate” jewelry mean lesser quality?

A: Not at all! The common thread among those terms is that the item is previously owned, and there is a lot of value in purchasing estate or previously owned jewelry. First, you can get great deals. The premium paid when purchasing a brand new piece at full retail price will not be transferred once that same item is resold. It’s an excellent way to purchase designer names at a fraction of the original price. Also, purchasing estate jewelry is a fantastic way to acquire pieces with “Old World” craftsmanship. This is a lost art. Production costs are prohibitive in today’s market, making it unrealistic from a cost perspective to do a lot of the precision handwork you can find in older pieces of jewelry. Purchasing estate jewelry is also a wonderful way to acquire platinum-set jewelry. Traditionally, platinum jewelry holds its value better than gold jewelry. And don’t forget that you can find diamonds at a fraction of what you would pay at a new jewelry retailer. The savings can be amazing, up to 75 percent.

Q: What’s the one thing you have to look for when buying vintage jewelry?

A: Condition, condition, condition! Don’t overlook damage such as missing prongs, bends and dents.

Q: Anything buyers should be especially wary of?

A: I’m always careful when selecting items that appear as Art Deco. Ask if they really are Art Deco or “Art Deco style” or “Art Deco reproduction.” There will be a significant difference in value and potential resale. You should also ask if the piece is original. Was it always a pendant-brooch or was it originally a brooch that someone altered to make it wearable as a pendant, too? Was the bangle watch originally an Art Deco watch that was later centered in a gold bangle? This is referred to as a “marriage,” meaning a combining of elements, and it affects the piece’s originality and value.

Q: Anything else?

A: Make sure what you are buying is what it is purported to be. Gold vs. gold-filled. Real vs. synthetic. Gemstones vs. glass. You don’t want to purchase a gold jewelry item without gemstones and think that it will go up in value. The gold market fluctuates on a daily basis, but typically not in big enough swings to where you can make money, especially if an item is acquired when the gold market is high.

Q: So how do you distinguish between a good piece and a not-so-good piece?

A: Make sure to check for the quality of craftsmanship, finish, gemstones and repair. Ask yourself if the item is nicely detailed with clean or crisp edges. Check closely to see if the piece displays serious wear. Are there dents or cracks? Are there any signs of repair? Sometimes, yellow gold solder has been used to repair platinum jewelry by unskilled bench jewelers. Definitely keep a keen eye out for signs of lead solder repairs on antique jewelry as this affects the piece’s value. In the case of a bracelet, is the construction stiff vs. flexible? The more flexible piece is better designed and manufactured. Is the piece scratchy? That is a sign of either a new piece or lesser quality of manufacture. If gemstones are involved, are the colors clear, bright and lively? Are they of medium color? Generally, more commercially made items have lighter gemstones of lesser quality, meaning mass production. For diamonds, check the quality. Avoid diamonds that look like snowballs or diamonds appearing like gravel due to heavy inclusions.

Q: What are some of the most collectible names in vintage jewelry and why?

A: There are too many to list, but there are a few “top of the top.” Some of the firms noted for their exquisite designs and craftsmanship include Van Cleef & Arpels, Cartier, Mauboussin, and Schlumberger for Tiffany & Co. Their true vintage pieces, made prior to 1960 in Paris, command a premium. There are the rare designers, who are so exclusive that their pieces are unsigned, as in the case of JAR. Others produce limited quantities of very high-quality designs and to come across their works is the equivalent of finding treasures. These include Rene Boivin, Carven French, Pierre Sterle, and Janesich. Among contemporary names, Bvlgari, Harry Winston, Graff, and H. Stern all utilize the finest in both diamonds and colored gemstones.

Q: There seems to be controversy as to whether vintage jewelry is a good investment. What’s your take?

A: For the most part, not consider the majority of jewelry to be what most individuals would traditionally think of as a good investment. It typically isn’t high finance. Is it a money-maker on down the road? No. So why the interest or why should you purchase or care about vintage jewelry? Vintage jewelry, as with contemporary jewelry, is largely an emotional purchase. You have to ask: Does it make me feel good? Does the piece excite me? Do you get a visceral reaction or enjoyment? If the answer is yes, then that particular piece is a good investment in terms of the pleasure value. In my opinion, jewelry is meant to be worn and enjoyed. There is also the sentimental value factor that you attach to items. Was it the one-and-only engagement ring a woman wore? Was the item received for a special occasion such as the birth of a child, a birthday or a milestone? Or was the piece passed down through the generations of a family? Sentiment cannot be measured on the open market. It is entirely and uniquely personal.

Q: What if someone still wants to approach this as an investment?

A: To make a true financial investment, you may want to target designer name materials, because they have a better tendency to retain value or, in some instances, even increase in value. Or you may want to consider larger or higher quality diamonds or rare gemstones for investment purposes. Generally speaking, the items that will hold value are going to be beautifully executed and include fine diamonds or colored gemstones set in gold or platinum. As an aside, and would point out that there are far more pieces out in the marketplace that are unsigned vs. signed, but that should not be a negative factor or a reason to overlook them. Beautiful construction combined with fine materials will always be saleable and in demand.

AN EXPERT’S INSIGHTS
Noted vintage jewelry expert Jill Burgum, who received degrees in bench jewelry manufacturing from Bowman Tech and Stewart’s International and previously worked at Butterfield & Butterfield, offers these tips for today’s vintage jewelry market:

+ Trends: Jewelry follows fashion trends, even when looking at vintage and estate pieces. “Right now,” Burgum says, “1970s fashions are hot — so is yellow gold in textured forms. But be careful. The odds on nugget jewelry and rope chains coming back in style are not good.”

+ Quality: When establishing a jewelry wardrobe, look for timeless designs — a simple pair of moderately sized hoop earrings, three-stone rings, a tennis bracelet, diamond solitaire pendant, or stud earrings.

+ Care: Be aware of how you store your fine jewelry. “Don’t toss it into a jewelry box,” Burgum says. “Diamonds will scratch other gemstones as well as other diamonds.”

+ Upkeep: Keep your jewelry clean — it looks so much better, brighter and fresher. “Occasionally check to make sure stones are tight and not loose. Make sure your pearl necklaces do not have stretched silk cord — an indicator that they should be restrung before a potential loss or breakage occurs.”

+ Recycle: Keep in mind the “green factor” when looking at jewelry. If you have items that are (to you) outdated or damaged, turn it into cash that can be applied towards the purchase of something else you would like, or use the money to pay bills or take a trip. “The metal,” Burgum adds, “can also be melted and made into another item. Gemstones can be removed from one item and utilized in another. Be creative.”

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