Estate Buyer Training

There is a training process required for all new Estate Buyers, to familiarize them with our systems and procedures, the market values of the valuables that we buy, and how to successfully work with buy customers and close deals.

This training process takes a longer or shorter amount of time depending upon how much previous education, training and experience the new employee has had in the past, and how quickly he or she is able to assimilate the knowledge that is required.

The training process takes up a great deal of time for our supervisors and other buyers and the cost to the company is significant. Therefore, until he or she is fully hatted and is able to perform the duties of the job without supervision, the trainee is not eligible to earn commissions on the buys that he or she makes or participates in making.

It is up to the discretion of the department supervisor to determine when the trainee will be eligible to earn commissions.

Commissions on buys are not paid until the items being purchased have been held for 30 days as is required by the police department and are consequently sold to a dealer or transferred to the retail inventory.

If an Estate Buyer’s employment here should be terminated whether voluntarily or involuntarily, for any items that he or she participated in buying or solely completed buying that are still in 30-day hold or not yet sold, he or she will not be paid commission on those items.

Once the training process is completed, then the trainee is eligible to earn commissions on buys per the policy “Commission to Estate Buyers.”

The buys done by trainees will be reviewed by a manager before going into the 30-day hold. This will apply to new employees as well as current employees undergoing re-training.

It may happen that a new buyer or occasionally an experienced buyer starts making mistakes in buying that end up costing the company lost profits. If it is determined by management that this situation is significant, any buyer can be reassigned back to training and during that retraining period will not be eligible to earn commissions on buys whether they are completely solely or in tandem with other buyers or managers. However, commission earned on buys previously completed will continue to be paid as the buys are sold, long as the buyer is still employed here on a full time schedule.

In some cases, management may decide that a buyer should be assigned to processing for a period of time as an aid in further training on the values and composition of jewelry and watches, and the buyer will not be assisting in buys during that time.

Once the retraining is deemed to be completed, then the buyer will be restored to the buyers schedule and once again be eligible to earn commission on buys that are made.