Making a Living as a Jewelry Artist
an interview with Cindy Edelstein of the jeweler’s resource bureau
Interviewed by Bernadette Finnerty

TCR: How did you come to start the Jeweler’s Resource Bureau and how has it evolved?

Cindy Edelstein: After five years as an editor at JCK magazine, there were huge corporate layoffs throughout the company and I suddenly found myself with a lot of free time. I had already fallen in love with the designers and the “designer movement” and decided to stay in the industry and serve whatever of theirs that I could. I didn’t really have a business plan, so overnight I became an entrepreneur, just like my target clients.

[The Jeweler’s Resource Bureau] started one week after leaving the magazine with a name and a mission — to do good things for designers — and not much else. Four months later, the JCK team launched their own trade show and my old boss became my first major client. Over the years, I have created many different projects and products and my own specialized trade show utilizing my talent for communication and organization with the one goal of promoting the designer jewelry movement.

We are the only business that exclusively serves the designer jewelry market. We are also the only ones to bridge the gap between the three worlds of jewelry design — fine jewelry, fine craft and fashion. Designers [often] get their start in one world — either jewelry, craft or fashion — and [are] oblivious of the other two. We offer insight and intelligence on the entire spectrum of business opportunities.

TCR: What are the current challenges related to running a successful business as a jewelry artist?

CE: Obviously, the fallout from the downturn in the economy. ... Those designers who have been in business for 10 years or less have never experienced a negative economy, and those in business longer were young and growing during the previous recession of the early ’90s.
Many designers didn’t know how to respond to the quick change in the retailers’ attitudes about fine jewelry. It seemed like overnight, buyers turned conservative. Most designers were unprepared for hard times and lacked the resources to ride it out. Plus, the market is more competitive now than ever before.

The second challenge has always been there — it’s a lack of business knowledge and focus. Artisans go into business because they love making art. In many cases, not one business book has entered their studio before opening shop. But, enthusiasm for the business side is just as important for success as passion and proficiency in creating jewelry.

Public relations and marketing are definitely creative pursuits and could be a fun challenge in between tasks at the bench. It’s harder to find the enthusiasm for bookkeeping or collections, but they’re more necessary than anything else.

The third challenge is keeping their work fresh and relevant. Studio jewelers are very connected to their processes, creating at the bench using techniques they have worked hard to perfect. That often gains them their first measure of success. The real challenge comes in the second phase of their career, after working very hard to gain recognition and respect, they cannot rest on their laurels but, to quote that famous chef, they have to “kick it up a notch.” Once you’re well known for something you have to work even harder to keep that [success].

TCR: How can economic factors affect a jeweler’s ability to market and sell his/her work?

CE: When times are good it’s easy for even the least talented to find some clientele. There are always more buyers at trade shows, more people at craft fairs, more potential. When the economy falters … it seems like the rungs on the ladder to success are much farther apart and only the truly talented have the reach. The challenge is for the artisan to adapt when times are tough. It’s difficult to react to the change in your customers, as well. Many designers face frustration at retailers who lead with their emotions, most often fear, and miss the chance to help their businesses rebound. It’s a self-fulfilling prophecy to an extent — not everyone is comfortable with a gamble so they hold tight for too long. To adapt, artisans may decide to downsize their client list to concentrate on the most profitable ones. There’s an old axiom that 80 percent of your sales come from 20 percent of your customers. So concentrating on that percentage may be easier to do in hard times.

They may decide to do more trade shows or less trade shows. I’ve also seen designers commit all their energy to their biggest show and cut back on their smaller, ancillary shows.

[In addition], designers who have only done wholesale up until now have added some retail fairs to their agenda and others have opened up their own galleries. In fact, designer-owned jewelry galleries have opened at a steady pace across the country in the past two years. This is another way to grow a business without a middleman.

TCR: It seems like we’re seeing more and more jewelry designers at craft shows, particularly wholesale shows; why is this?

CE: A growing number of craft galleries are turning to fine jewelry as a new or growth sector of their stores. Many are upgrading what they carry, moving from sterling and brass to gold and platinum.

This presents a good growth market for fine jewelry makers, but there’s an additional challenge as well: More gallery owners of all types seem to be turning to jewelry sales as they realize that they can make a tidy profit.

However, any gallery owner moving into this category has to realize that specialized knowledge regarding jewelry is going to have to be learned. Some lower-priced jewelry can be sold as fashion but the selling of higher-end jewelry needs education. What I hear is that sales could be so much more if the new retailers knew more about jewelry. Designers will need to offer more support and education to these retailers.

Designers also can find more clientele by opening their own galleries. While they’ll have to learn a new set of business skills, they have the opportunity to increase profit margins, test new designs and build a loyal, local following.

TCR: How do trends in the mass market affect art jewelers and their ability to be competitive?

CE: Trends have a direct impact on jewelry manufacturers and their competitiveness. Just look at the resurgence of platinum and pearls as design elements in just the last five years and you’ll see how that’s influenced jewelry sales. Anyone who ignores trends is taking a risk that their work may fade out of favor. Having said that, however, I would also balance that comment with the observation that fine, high-quality, well-designed jewelry made with the traditional mainstays of gold, diamonds and silver will always have a market, and be a means for an artist to make a living.

Celebrity trends have become more important in recent years [as have] fashion trends … [both] have made a significant impact on sales. And for the artisans who spurn any such trends as being “against” their art, they need to realize that [this attitude could] negatively impact their business.

TCR: What are “hot buttons” among jewelers you have encountered recently?

CE: How to collect money from slow retailers; whether or not to follow trends; how to set minimums and at what level; how to experiment with other markets; whether or not to open a store and how to do it; where to spend money on brand identity support materials, and how much.

TCR: What is the best way for jewelry artists to find and maintain their market?

CE: Wholesale markets — you get the chance in three to five days to meet dozens of retail storeowners and fellow artists. You get to do market research by strolling the aisles, informal credit reports by gabbing with exhibitors, public relations by meeting with editors and industry intelligence and saturation by talking to everyone and looking at everything.

To find the right markets for your work, research shows, talk to peers and your existing customer base and just roll the dice. Repetition is the key to all advertising and promotional venues, and it often takes a few shows before the buyers are willing to work with you.

JULY 2002: TABLE OF CONTENTS