Watch Consignment

Leo Hamel & Co.’s inventory department has a quality control system; we cannot sell a watch that is used without refinishing, servicing and getting it into a sealable condition.

If we do, we don’t know what we are selling.

When we sell a piece out of our case, we are responsible for it. Even though we are selling a customer’s watch (consignment), the customer buying is doing business with us and not the cosignor. We are liable for the watch… if it breaks down, we are the ones that are going to have to deal with the customer and fix it. (LIABILITY) Public Relation’s wise, we cannot put a scratched up watch in the case, nor can we take the chance that a watch becomes a problem for our customer.

We have a full service repair center, and this is an awesome advantage for the customer that wants to leave his watch on consignment. We make it look new, and fix it from any possible internal malfunctions.

To be able to take advantage from our consignment service, the customer needs to pay the retail price for all the services done to the piece.

This needs to be communicated to the customer.

If he’s not willing to pay for his watch to be put into a sealable condition, he has 3 other options:

1. Reduce the price that he wants for it, i.e., if he wants $800.00 and the retail cost to repair the item is $90.00, he will get $710.00 for the item when it sells. If the piece does not sell he has to pay the $90.00 back to the store. (This would be outlined in the consignment agreement.)
2. Sell it to our Estate Buyer.
3. Trade in towards another purchase (of course he needs to get different trade in value first)

This is going to benefit the customer and keep us selling QUALITY jewelry pieces so that we can do right by all of our customers and continue to EXPAND.