Leo Hamel Policy Center

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You are currently viewing policies in the buyers category. Click here to view all 587 policies, or to view policies belong to a specific department, click on the department name in the table below.
Document Name Description Last Updated
Buyers
A Completed Buy
What constitutes a completed buy and how that determines commission eligibility.15 July 2022
Buyers
Acceptable Forms of ID
Which forms of identification estate buyers may accept under the Business and Professions Code for secondhand goods.Never revised
Buyers
Adding Sellers to the Mailing List
Guidelines for estate buyers on which sellers to add to the retail mailing list and how to document and confirm their interest.Never revised
Sales Buyers Accounting
Additional Commission for Reviews
How sales staff and estate buyers can earn additional commission by obtaining and verifying customer reviews on Google, Yelp, or Facebook.27 May 2025
Buyers Inventory Sales
Adjusted Cost Definition
How the term "Adjusted Cost" is defined and applied to estate buys, wholesale and retail pricing, inventory valuation, shipping and repair costs, and related commissions.07 August 2006
Buyers
Asking for the Next Buy
How to encourage repeat estate sellers to bring additional items and set appointments to increase buys.Never revised
Buyers
Be Kind to Sellers
How buyers should treat sellers and their items respectfully to preserve customer relations and resale opportunities.07 January 2020
Buyers
BIS & Buying Percentage
Instructions for tracking daily "bodies in the shop" (BIS) and calculating estate buyers' buying percentage to monitor advertising effectiveness and improve performance.Never revised
Buyers Sales
Buy Customer Referral Checks
How to award and process referral checks to customers who refer buyers, including qualification criteria, reward amounts, and step-by-step procedure.07 May 2021
Buyers Sales
Buy Customer Referral Checks
How buyers request and send referral reward checks to customers who refer new sellers.07 May 2021
Buyers Sales Accounting
Buy Money, Special Discount to Customers Who Spend it at our Stores
How buy customers receive a 15% bonus certificate to spend in the retail stores when their buy checks exceed $200.12 May 2012
Buyers
Buy Organization, Notes, and Stock IDs
How buyers should organize purchases, record detailed notes, and assign stock IDs to ensure buys are complete and accurately valued.14 March 2015
Buyers
Buy Slips
What information must be recorded on buy slips, including the mandatory customer phone number and how missing numbers affect commission.14 March 2013
Buyers
Buy Sources
Buy Sources — how to record why customers come in to sell and which marketing channels prompted those buys.15 July 2022
Buyers
Buyers – Buy Splits
When and how commission splits are earned among buyers on buys, including required documentation, turnovers, and split handling.Never revised
Buyers Sales
Buyers Keep all Parts of Buys
Why buyers must keep all parts of purchased items and related paperwork until inspection so items can be reassembled, returned, or otherwise evaluated.Never revised
Buyers
Buyers Promotion
How buyers should use personal calls, emails and letters to increase estate buying business.Never revised
Buyers
Buyers- Diamond Grading
How buyers are tested and retrained on diamond grading when rotating through the Old Town office to ensure accurate grading and avoid missing large buying opportunities.Never revised
Buyers
Buyers, Avoiding Swap Theft
How buyers can prevent swap theft when evaluating items such as diamonds and watches.Never revised
Buyers
Buying Basics
How buyers should handle phone inquiries, in-store interactions, qualifying sellers, closing deals, dealer transactions, and follow-up to maximize profit and customer trust.28 July 2012
Buyers Inventory
Buys and Trade-in Diamonds- Double Checking Carat Weight
How to double-check carat weight when buying or trading diamonds to ensure accurate pricing and avoid overpaying.Never revised
Buyers
Check WCSA Database
Verify watches in the Watch Certification Services of America (WCSA) database before purchase to prevent buying replicas or watches with replaced movements and to protect the store and buyer commissions.Never revised
Buyers
Checking Kennedy Half-Dollar & Eisenhower Dollar for Silver Content
How to identify which Kennedy Half-Dollars and Eisenhower Dollars contain 40% or 90% silver and how to separate and document them.Never revised
Buyers
Checks over $15,000
When and how buyers must notify the Controller and CFO about checks over $15,000 to ensure available cash flow.13 October 2015
Accounting Sales Buyers
Checks, Replacing or Accepting Back
Rules for accepting back or replacing customer checks, explaining when buys can be undone, posting requirements, repurchase conditions after police hold, and stop-payment fees for lost or stolen checks.01 February 2014
Buyers
Cleaning the Buy Offices
How estate buyers must clean and maintain satellite buy offices daily and before handing them over, and how to report unkempt offices.12 December 2013
Buyers
Coin Sleeves
How and when to use double-pocket plastic sleeves to protect mint-condition coins, small gold bars, and other valuables during buying, testing, and storage.Never revised
Sales Buyers
Commission Overtime Exemption
Explains when and how commission earnings determine overtime exemption for sales and estate buyers.12 May 2018
Buyers Accounting
Commission Paid to Part-Time Buyers
How part-time buyers are compensated with a 4.25% profit-based commission when they close buys.Never revised
Buyers Accounting
Commissions to Estate Buyers
How Estate Buyers are paid commissions on purchases, detailing the step-by-step process, payment timing, splitting rules, and eligibility.10 April 2021
Sales Buyers Inventory Accounting
Consignments
How consignments are handled, documented, and processed including pricing, testing, commissions, and options for unsold items.10 August 2012
Buyers
Contacting Customers by Letter or Email
How estate buyers should contact customers by letter, email, or phone to provide personal, relevant communication, including definitions of valid contacts and penalties for sending form emails.18 June 2022
Buyers
Cost of Shipping on Invoices
How to record shipping charges on invoices, specifying customer shipping should not be included on the invoice (use EXE) while vendor shipping must be included in the item's cost.05 October 1998
Sales Accounting Buyers
Counting Cash
How to ensure cash is counted in front of the customer for large-volume cash sales and pawn redeems so discrepancies cannot be claimed later.06 September 2008
Sales Buyers
Dead File
When and how to change customer mailing statuses (Dead File, Mailings Three, Requested Off) to keep the mailing list effective and conserve resources.31 July 2004
Buyers
Diamond Color Master Set
How to maintain and expand the company's GIA diamond color master set, including selection, submission procedures, grading criteria, fees, and shipping requirements.Never revised
Buyers
Diamond Depths
Which diamond depths to order to maximize perceived size—prefer 60–60.5% depths.02 January 2007
Buyers
Diamond Language
How to read the order of depth %, table %, clarity and color on diamond certificates.06 August 2006
Buyers
Directions to Buy Offices
How to direct customers to each buy office from various originating areas.30 August 2023
Buyers
Display Items and Merchandise in Remote Offices
How buyers must secure and store display items and merchandise in remote offices each night to reduce theft risk.24 March 2012
Sales Repair Buyers
Employees Create Social Media Posts
How employees should create and submit customer social media posts, who to contact, and the consent requirements for posting customer photos or videos.10 April 2024
Buyers Inventory Sales
Estate Buyer to Inventory Line
How estate buyers and the Wholesale Unit must offer and document purchased items to inventory and sales managers to maximize retail opportunities.28 July 2006
Buyers
Estate Buyer Training
How new estate buyers are trained, how training affects commission eligibility, and the conditions for retraining and commission payment.08 September 2012
Buyers
Estate Buyer Turnovers
How estate buyers should turn customers over to other buyers or managers to close purchases, improve service, and share commissions.01 November 2013
Buyers
Estate Buying, People Calling to Sell
How to handle calls from people wanting to sell estate items and how to route and record their information for buyers.15 February 2012
Buyers
Extended Warranties
When and how to record and verify salespersons' extended warranties so repairs are handled correctly.08 August 2006
Marketing Sales Buyers
Familiarity With Ads
How marketing ensures salespeople and estate buyers are informed about new advertisements and that the POS has the correct contact source.30 August 2024
Buyers
Forbidden Words
What words buyers should avoid using with customers and how to rephrase responses to sound knowledgeable and professional.Never revised
Sales Buyers Marketing
Forward All Customer Compliments to Marketing
Send all positive customer compliments to Marketing for use in promotional materials.Never revised
Buyers Sales Marketing
Google Reviews
How staff should solicit Google reviews, track them, and the incentives and rules for posting to improve SEO.10 April 2021
Buyers
Greeting Customers in the Buy Offices
How to greet and make estate/buy customers comfortable in the buy offices by offering refreshments and hospitable treatment to increase cooperation when they sell items.07 April 2021
Buyers
Handling Buy Customers on the Phone
How to handle callers wanting to sell items and how to respond to common price and buying questions over the phone.17 January 2009
Buyers
Handling Sellers with Guns
How to refer sellers who bring guns, who may handle them, pricing guidance, and safety and storage procedures for gun sales.15 March 2013
Buyers Accounting
How to Get More Checks
When and how estate buyers should request more pre-signed checks from Accounting when their check supply is low.13 March 2013
Buyers
Intellicheck
How to verify customers with Intellicheck and OFAC to comply with anti-money laundering laws when completing estate purchases.Never revised
Buyers
Keeping Track of Supplies
How buyers must monitor and order supplies to keep buy offices stocked and avoid shortages.12 May 2018
Buyers
Looking up Stolen or Counterfeit Watches in Watch CSA
How to look up stolen or counterfeit watches using the Watch CSA website.Never revised
Buyers Inventory
Magnet Use
How to use magnets to screen buys and trades of precious-metal items to prevent purchasing fakes.Never revised
Buyers Repair
Merchandise, Location and Routing
Where merchandise should be located, how items should be routed between locations, and the rules for handling inventory to protect and control stock.05 January 2007
Buyers
Minimum Check Amount is $20
Sets a $20 minimum check amount for estate buys to cover processing and recording costs.Never revised
Buyers
Odd Shaped or Uncertain Metals
When buyers encounter odd-shaped or unmarked metals, they must take items in for assay and not purchase them outright.Never revised
Buyers
OT Buying Office Open on Mondays
Why and how the Old Town buying office will operate on Mondays, including hours, staffing, holidays, pricing assistance, storage, deliveries, and customer interactions.23 December 2017
Buyers
OT Safe, Keep it Locked
How to keep the Old Town buy office safes locked, when managers should open them, and end-of-day storage and verification procedures.Never revised
Buyers
Pawn Policy
How the company handles pawn loans, including what pawns are, minimum amounts, interest rates, valuation, terms and renewals, payment methods, and procedures.Never revised
Buyers
Pawns Hat
How to complete, record, enter, store, renew, redeem and ring up pawn transactions and related recordkeeping.Never revised
Buyers
Photographing Buys
How buyers must photograph estate purchases, what images are required for identification, and how to upload those photos.06 January 2024
Buyers
Police Officers or Pawn Inspectors
What staff should do when police officers or pawn inspectors inquire about buys and who to direct them to.Never revised
Buyers Inventory Sales
Police Report on Trade-Ins & Consignments
When and how to report trade-ins and consignments to the police, who must complete the paperwork, and the refund exception.07 August 2006
Buyers
Preparing Buys for Transport
How Estate Buyers must prepare and secure buys for transport to Old Town to ensure security.Never revised
Buyers
Pricing Custom Jobs
How Repair prices custom jobs, required profit margins, and how estimates and customer communication should be handled.08 August 2006
Sales Repair Buyers
Problem Customers
How to handle problem customers, including when to fix issues, offer remedies, escalate to management, or ban repeat unreasonable customers.Never revised
Buyers Sales Marketing Repair SDGL
QR Code Cards
How and when staff should use QR code business cards to encourage customers to leave Yelp or Google reviews.Never revised
Buyers
Qualifying a Trade Customer
How to qualify a buy customer and determine when and how to refer them to the sales floor for a potential trade.Never revised
Sales Buyers Accounting
Referrals from Buyers
How Estate Buyers should refer wholesale customers to salespeople and how Reception assigns incoming customers.Never revised
Buyers Sales Repair
Repairs, Back Charges
Requires pre-owned items to go through Repairs before sale and describes charge-back consequences for violations.Never revised
Inventory Buyers Repair
Repairs, Security of Internal Jobs
How to ensure merchandise transferred to Repair is counted or weighed to prevent loss.Never revised
Accounting Buyers Sales
Reporting Cash of $10,000 or More
When and how to report cash payments of $10,000 or more using IRS Form 8300, including required customer information and penalties for noncompliance.05 June 1997
Accounting Buyers Sales
Resale and Interstate Sales Documentation
How to document resale and interstate sales to prove tax exemption and avoid sales tax liability.05 August 2017
Buyers Inventory
Runs to Mystic Coin
How to stay safe when transporting coins and scrap metal to Mystic Coin, including steps to take if involved in a staged accident, followed, or robbed.18 September 2024
Buyers
Safe Handling of Gold Testing Acids
How estate buyers should safely use and respond to accidents involving gold testing acids.Never revised
Sales Buyers
Sales, Taking Customers to the Buy Side
How sales staff should escort customers to the buy office when they have items to sell and the procedures to follow while buyers are assisting customers.Never revised
Buyers
Sandbagging
Explains the Sandbagging policy: sales and production must be recorded in the week they occur and sandbagging is prohibited, may forfeit commission, and can lead to dismissal.Never revised
Buyers
Scanning Buy Checks
How estate buyers must scan, report, and verify buy checks daily, when to notify Accounting, and special Thursday submission requirements.24 June 2017
Buyers
Security Procedures for Buy Offices
Security procedures for buyers to protect staff, customers, and merchandise in buy offices.10 December 2024
Buyers
Selling Buy Customers Their Items Back
How the company handles requests from buy customers to repurchase items, including the 30-day hold, notification and processing, potential restocking fees, and acceptable payment methods.20 February 2016
Buyers
Selling to Dealers
How estate buyers should evaluate and research jewelry, silver, and unique items before selling them to dealers, and whom to consult.12 May 2012
Buyers Logistics Sales
Sending Coins to Mystic
Instructions to remove buy slips from coins/bars/scrap before sending them to Mystic to protect confidential pricing information.Never revised
Buyers
Share Info About Fakes
How estate buyers should document and share information about suspected counterfeit items to warn other buyers.Never revised
Buyers Inventory Sales
Show Buys to Retail
When and how wholesale purchases and silver/antique items must be shown to Retail and reviewed before selling to dealers, including required reviewers and timing.10 May 2017
Buyers
Silver Scrap Pricing Tutorial
How to calculate scrap and employee prices for sterling silver jewelry22 March 2016
Buyers
Solana Beach Buy Office Only- Mailing Buy Slips
When mailing buy slips from the Solana Beach buy office, always send both the white and yellow copies to the Solana Beach police department.Never revised
Buyers
Take-in Procedure
How buyers should handle take-in of items for evaluation, documentation, photography, customer follow-up, and tracking whether the customer leaves the item or not.09 July 2011
Buyers
Talking to the Police
How buyers should handle communications with law enforcement, including requiring CEO/CFO/COO presence and limiting statements to facts.Never revised
Buyers
Thank You Notes to Buy Customers
When and how buyers should send thank-you notes to customers who sell items, including the step-by-step procedure, personalization, and confidentiality rules.19 September 2012
Buyers
Two Sided or Double Headed Coins
How to identify real versus fake two-sided or double-headed coins and their approximate value.Never revised
Buyers
Verify Buys over $5000
Requires a second buyer or manager to verify and sign off any buy or pawn check over $5,000 to prevent fraud, grading errors, and unprofitable purchases.Never revised
Sales Accounting Buyers
Verifying Cashier’s Checks
How to verify cashier's checks before accepting them as payment, when to delay delivery, and alternatives if immediate verification isn't possible.18 January 2024
Buyers Repair Sales
Watches, Verifying Authenticity as a Service
How the company verifies watch authenticity, including who is authorized, the fees charged, and step-by-step procedures for showroom, phone, and estate buyer requests.13 June 2024
Buyers
We Don’t Do Business with Minors
Why and how the company refuses to buy items from minors and what staff should do when an underage seller arrives.Never revised
Marketing Accounting Buyers
We Don’t Accept Foreign Bank Checks
Policy stating the company will not accept checks drawn on banks outside the U.S. due to collection fees and delays.14 August 2006
Buyers
We Share Knowledge
How estate buyers should share new experiences, findings, and solutions with fellow buyers to improve buying success.Never revised
Buyers
What to Do When You’re Not Buying or What You Can Do ANY Week to Improve Your Stats
Activities buyers can do during slow times to generate business and improve their performance.Never revised
Marketing Buyers
When to Mail Flyers and Special Event Promo
When to mail flyers and special event promotions so they arrive just before or at the start of the event.08 August 2006
Buyers
Writing Multiple Checks to Buy Customers
Rules on issuing multiple checks to buy customers, including prohibition when used to evade bank reporting and a $10,000 limit.Never revised
Marketing Buyers
Yehuda Enhanced Diamonds
Guidelines on how to refer to, sell, and handle Yehuda clarity enhanced diamonds, including restrictions, guarantee and benefits.07 August 2006