#74 - Always Look at the Numbers

Posted on Thursday, September 10th, 2020 at 7:35 am by LaLonde Jewelers

So, numbers can mean a lot of things, you can come in 1st or 2nd. You have a credit rating 500, 600, 700 and so on. In school you would get graded 2.0, 3.2, or 4.0 now I see you can get a 4.4 I’m not sure how this is, but these are numbers.

Now Rolex listed all of their watches by number, all in sequence and these numbers go all the way back to the 1920’s and possibly before. They had a consistent numbering system that made it easy to tell what year your Rolex was made. Then Rolex started putting random numbers on their watches starting in 2010. Why? I believe it is to keep the value of the secondhand market down so more people would buy new watches from Rolex dealers. You see it is harder to tell how old a Rolex watch is today. With a random number you might hear from the seller that he at least knows that it was made after 2010. Think in 2030 are you buying a 3 or 20-year-old watch. This can be alleviated if you can be shown the original card that came with the watch. Problem is a lot of these cards are misplaced.

Well, I got to looking into numbering systems. When a company that I deal with sends me an invoice, I look at the invoice #, then when I get another invoice, I check that number. I see how many invoices they have sent. If the invoice numbers are close together than I’m probably one of their bigger buyers. On the other hand, if the invoice numbers are thousands apart than I could be very small in their eyes. This would play into how I might approach the company when looking for discounts or looking to stretch payments. Think of your electric bill, I’m willing to bet your invoice number could be many thousands of numbers apart. When is the last time you said to the electric company “I’m one of your biggest customers.”

Now we are not the largest company in the country, and I have given serious thought of using random invoice numbers so none of my clients can say they buy most of our jewelry.

So, in the future when you are looking at the numbers you might get an idea of how important or how insignificant you may be, according to the numbers.


Written by Dan LaLonde, G.G., G.I.A.
Lalonde Jewelers & Gemologists
The Gem Expert
www.thegemexpert.com



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