We've made some important strides in the event sale business, both in supplying our inventory for augment and in working closely with supervisors on sales. It's our firm belief that there is ample room to bring this aspect of jewelry liquidation into the new millennium. By the end of this year, we expect to be very well positioned to grow this business.
New York, NY (PRWEB) April 10, 2009
SimplexDiam, Inc. Announced today massive purchases from multiple auctions. Designers represented in the acquired jewelry inventory are Tacori, Ritani, Hearts on Fire, David Yurman, John Hardy, Mikimoto, Lagos, Christian Bernard, Guy Laroche, Cacharel, & Feraud amongst others. (None of these brands are copyrights or trademarks of SimplexDiam Inc. and are in no way affiliated with the company.) It has been quite a ride for the company and its team, working most weekends for the past six months to keep up with the deal flow of jewelry liquidations. Says Chairman & CEO Yogesh Madhvani: "Retailers, wholesalers, and banks have noticed that we aren't the typical jewelry liquidator. We are looking for a small margin and we aim to move product as quickly as possible. This means the seller gets a higher recovery and the buyer gets a better price. In this recessionary cycle, people flock to companies like ours because the difference in value crystallizes."
Though the economy seems to have careened out of control, and this week we're seeing a roll back on some of the stock gains of the past fortnight, most of Simplex's customers are flourishing. Their focus, on deep discounts in closeout jewelry and closeout diamonds, has allowed their customers to gain footing in an otherwise impossible market. SimplexDiam Inc.'s work on the Friedman's and Whitehall Jewelers liquidations along with the added value they brought to the LID bankruptcy have set the stage for a new culture in the liquidation arena. Most recently they were the winners of Christian Bernard's closeout jewelry and back-up bidders for over $7,000,000 of the Colibri closeout jewelry which included brands such as Krementz, Dolan Bullock, and Princess Pride.
Neel Madhvani, VP of Marketing notes: "We've made some important strides in the event sale business, both in supplying our inventory for augment and in working closely with supervisors on sales. It's our firm belief that there is ample room to bring this aspect of jewelry liquidation into the new millennium. By the end of this year, we expect to be very well positioned to grow this business."
Yogesh Madhvani has been an entrepreneur for over 33 years, founding and running companies in markets as diverse as textiles and diamonds. Madhvani was a founding director of the Indian Diamond & Colorstone Association (IDCA) and a founding member of the Indo Argyle Diamond Council (IADC). He is a member of many other trade bodies such as the Jewelers Vigilance Committee (JVC), the Jewelers Board of Trade (JBT), and the American Gem Trade Association (AGTA). He is also a donor to numerous charitable organizations.
For more information on this SimplexDiam Press Release, or to request a confidential appointment, please call (212) 883-0888 Ext 1004.
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