CORAL GABLES, Fla., Dec. 23, 2019 /PRNewswire-PRWeb/ -- One of the country's most highly-regarded estate buyers, sellers and repair centers of fine luxury watches and jewelry, has reached the rare milestone of 40 years in business. From its small, 1980 beginnings on Lincoln Road in Miami Beach, Gray & Sons Jewelers has grown into an international authority with satisfied customers around the world. We sat down with the President of Gray & Sons Jewelers, Keith A. Gray, to find out how things have changed over the last 40 years for his business.
Q. You started this business in 1980. What has changed and what is still the same in the way you do business?
A. The whole world has changed since we stepped into the digital era including internet and social media but one thing has not – and that is our dedication
to serving our customers and community to the very best of our ability.
Q. Were you always interested in the luxury watch and jewelry business?
A. I originally had planned to be a veterinarian. When I started the business in 1980 the price of gold had just increased to astronomical levels and people were selling their gold heirlooms for cash. I had just finished my Bachelor's degree in Zoology at the University of Florida, and took a break from my veterinary medicine aspirations and started buying gold watches and jewelry.
I quickly realized that I was acquiring some very valuable pieces. I started going to national jewelry and antique shows and my collection of vintage and pre-owned modern watches grew rapidly, and with it grew the scope of the entire business.
By 1985 Gray & Sons was considered a world authority in vintage collectible timepieces
and well known for our eclectic collection of estate platinum, gold and diamond jewelry. Our signature brands include Rolex, Patek Philippe, Cartier, Omega, Jaeger LeCoultre, Piaget, Breitling, Audemars Piguet, Vacheron Constantin, and the list goes on.
Q. How did you grow the business beyond your original store on Lincoln Road?
A. We expanded into multiple locations: Lincoln Road, Coconut Grove and Bal Harbour/Surfside. We also began running ads in national newspapers and magazines
and saw a lot of interest outside of the local area.
So we started printing brochures and catalogs of our watches and jewelry and mailed that catalog to a growing list of customers and prospects around the country. This is where the real growth was taking place, so in the 1990s we consolidated all our operations into our current showroom across from Bal Harbour Shops on 96th Street.
The mail-order catalog business extended our reach nationwide and doing business online was a natural progression as the business footprint was already global in client base. Our website currently enjoys over 135,000 unique visitors per month.
Now Grayandsons.com is the USA's #1 multilayered platform for buying, selling and repairing luxury pre-owned timepieces and estate jewelry – uniquely fueled by the internet, our world-famous monthly catalog, and a sales and repair showroom across from Bal Harbour Shops
Gray & Sons have one of the largest collections of used and restored fine watches: both vintage and modern Swiss watches, including 150-year-old pocket watches and everything from art deco era watch to the latest models coming out of Switzerland.
Gray & Sons also has an unequaled collection of estate and modern fine jewelry, including jewelry from the finest designers, including Tiffany, Cartier, Bvlgari, David Yurman and more. The company also specializes in diamonds, with an in-house diamond cutter/polisher, and a growing sterling silver flatware and tea set selection.
Q. Tell us about your in-house watch and repair center.
A. While Gray & Sons initially focused on buying gold watches and jewelry there was a need to restore and bring these heirlooms back to life in order to resell them. This is how our modest repair department from the 1980s has grown into an unrivaled service center with six in-house Swiss-trained watchmakers, polishers and jewelers.
Gray & Sons not only restores and repairs all the watches and jewelry that we sell but also takes in repairs from the public. We do everything from simple to complicated repairs including fabricating parts that are discontinued. This is watchmaking and jewelry repair the traditional and old fashioned way.
Gray & Sons have done watch and jewelry repair and restoration work for many of the world-class boutiques in the Bal Harbour Shops.
Q. What are you doing new in your search for growth?
A. Looking to scale our level of inventory, we have developed a new nationwide appraisal buying division and platform: sellusyourjewelry.com. This website connects individuals as well as banks and estate/probate attorneys with decades of experience that Gray & Sons has in appraising and buying all things precious and valuable, including sterling silver flatware and tea sets, diamond jewelry, diamond engagement rings, platinum and gold jewelry, and all timepieces both older and newer creations.
To facilitate the needs of banks, attorneys and families looking for proper appraisals and valuations for family and court disbursements, Gray & Sons writes jewelry and watch valuations at various levels as needed, including appraisals for wholesale value, retail replacement value, and deliberate liquidation value. Contrary to many other businesses we stand behind our appraisals and valuations (in addition to providing written appraisals and valuations). Gray & Sons are ready to buy all the items we appraise with a written guaranteed "buy" price.
Hitting 40 years is an amazing milestone, and it's been incredible to watch just how much Gray & Sons Jewelers has positively impacted not only customers' lives, but the 20-employee team I've worked with through the years as well. We're excited to keep striving for excellence to make the customer's experience a memorable and enjoyable one.
Q. Finally, what is your BHAG (Big Hairy Audacious Goal)?
A. Within the next five years, I'd like to see Gray & Sons' growth reach $50 million in annual revenue. I'd like to forge alliances with other luxury stores around the world including several Chinese cities. The pre-owned watch and estate jewelry market is $200 billion annually, and we are poised for exponential growth. After all, it only took us 40 years to become an overnight success!
SOURCE Gray and Sons Jewelers
Share this article