Buy Organization, Notes, and Stock IDs

Complete notes and proper organization is considered part of making a Complete Buy (See policy “A Completed Buy”).

The best thing a buyer can do to ensure his or her items are sold for maximum value as quickly as possible is to practice good organization, note keeping and stock ID creation. Poor organization creates extra work down the line; it often leads your items being sold for less than maximum value. It can even cause items to be misplaced altogether.

Follow these rules to make sure your buys are always Complete and your commissions are always paid in full.

Organization

A day’s work, organized – Combine the day’s buys into one large bag (or more, if necessary). Label the bag with your name and date. Dates on bags should match dates of buys inside.

Scrap

All metals must be properly sorted and labeled. Each type and karat must have its own bag with a label. Mixed bags of different carats or materials are not ok.

Sterling buys must always be bagged: never leave sterling in wooden boxes provided by the customer. A large sterling buy that requires multiple bags can be stored in a single cardboard box. If the bags cannot be grouped in a box, give each bag its own stock ID and cost.

Coin buys go in a red bag after being sold. Multiple coin buys can be combined into a single red bag. All coin buys must include identifying notes.

Fake or non-precious coins must be labeled, or Leo will assume you paid for them.

Carefully pack watches and fragile items with bubble wrap or padding.

Notes

General rule for notes – Any information you had to collect to make the buy should be noted and included with the buy. It’s better to have too much information than too little. Write legibly.

Buy slips – Make sure your name and E-code are always on the buy slips. Split buys should have a prominent note with the names of the buyers who are splitting the buy. The note has to be visible for the person selling the item, or it will probably not be sold correctly.

Pricing Information – Always record pricing info in your notes. If a dealer made a quote, make sure it is recorded. If you used BusinessMind or an online guide, so note. Retail prices for designer jewelry, watches, etc. must always be recorded. The same goes for eBay research: always note the sold prices you used to arrive at your payment. (You can print the listing for your notes if you think it is helpful.) Not including pricing information causes a lot of extra work!

Diamonds

1. All diamonds that will be priced individually for resale must have individual notes. (This typically means diamonds over 1/2 carat.) Include the following:
   • Clarity, color, carat weight
   • Measurements, carat weight, depth % and other notes about the cut
   • Strength of fluorescence
   • Specs on mountings, if applicable
   • Rapp pricing and/or dealer pricing
   • Ideal measurements and future carat weight (if diamond is off-make)
   • Instructions about rechecking color, clarity, and carat, if applicable
2. Diamond melee – Note total carat weight, cut type(s), and grade.

Watches

1. Note on the slip and in the stock ID “HAS BOX, PAPERS, LINKS” etc. Don’t leave it blank!
2. Write pricing information on the slip (dealer quote, Specht Sheet, BM, retail price, eBay comps, etc.)
3. If it has a box, attach a paper with the following: (you can use the yellow copy of the buy slip or scratch paper)
   • E-code
   • Date purchased
   • $$ amount
   • Watch type & stock ID
4. Use rubber bands to attach the notes to the watch. Never use tape!

Sterling flatware and hollowware

• Notes must include weights in grams or troy ounces. Policy is very strict regarding silver notes! Silver buys over 600g without notes will automatically lose commission.
• Buys with multiple bags or boxes must have notes with cost and a stock ID pertaining to each individual bag. (This ensures your items will be sold correctly even if the bags are separated.)

Coins

• All coin buys must have your name, stock ID(s) and invoice number(s) in the bag.
• All coins must be labeled with purity, especially non-standard coins.
• Worthless coins should be labeled “no cost” or the assumption will be you made a mistake paying for them.

Unlabeled coins cause Dev-T since someone will have to identify and label them down the line. Having your name protects the company as we can identify any purchasing mistakes. It also protects you from losing commission on a coin that ends up being more valuable than you realized.

Stock IDs

All buys require at least one stock ID. Anything that may be resold to the store or a dealer gets its own stock ID. It is okay to group like items into a single stock ID if they will be sold together; for example, multiple pocket watches, or Native American silver pieces.

These items always receive a separate stock ID (either as an individual item or a like group):

• Jewelry and diamonds for resale
• Sterling flatware and hollowware
• Pocket watches (both resale and scrap)
• Non-scrap wristwatches
• Native American silver
• Costume and vintage gold filled jewelry for resale
• Scrap
• Coins
• Collectibles or misc. bulky items
• Buys with multiple bags or boxes

Buys with multiple bags or boxes – Create a separate stock ID, with cost, for each individual box or bag in a large buy. Bags and boxes often get split up in transport. This is particularly important with sterling hollowware and multi-bag flatware buys, since each bag contains a lot of value.

Buys with multiple components/parts – Include an inventory list for buys with many individual components. This will help ensure that all parts are accounted for when sold or moved. Missing pieces can lower sale value, or, in the case of tools, render the whole buy worthless!

Examples

A collection of many figurines should include a list numbering the figurines. A large mechanical scale should include a numbered list of its parts, so we can tell if anything is missing.

Watch descriptions in BusinessMind must always include these notes: Model and serial numbers, physical description of watch and condition, pricing information such as dealer quotes, Specht Sheet, BM history, retail price, eBay comps, and whether the watch does or does not have box, papers and links.