Programme overview
Introduction:
Jewellery and gold retail management, covering gold pricing, gemmology basics and showroom sales, is a 5-day course for showroom, buying and counter supervision staff, ending with a Jewellery Showroom Operating Plan for a case retailer. Jewellery retailers lose margin when making charges are quoted inconsistently, karat claims go unchecked, weighed stock drifts from the ledger and cash-heavy buy-back deals are accepted without due diligence. Nominees already run counters, buy stock or reconcile gold weight, and learn through case studies built on price sheets, stock ledgers and customer files. CoreConcept Training Center delivers this jewellery and gold retail management course.
Course Objectives:
- Calculate retail selling prices for gold jewellery from the daily gold rate, karat, net weight, making charge and tax
- Verify karat claims and hallmarks using touchstone, acid and XRF testing and record the result on intake documents
- Describe diamonds with the 4Cs and coloured stones by species, treatment and origin disclosure when buying and selling
- Control gold and stone stock by weight and piece with daily counter reconciliation, tagging and shrinkage investigation
- Price scrap and old gold buy-back and exchange deals and apply customer due diligence and suspicious activity reporting
- Assemble a Jewellery Showroom Operating Plan covering pricing rules, verification steps, stock controls and counter selling routines
Target Audience:
- Managers accountable for the sales, staff and stock of a gold or jewellery showroom
- Buyers responsible for selecting jewellery lines, negotiating making charges and placing orders with workshops
- Stock controllers responsible for weighing, tagging and reconciling gold and gemstone inventory
- Counter supervisors responsible for customer service, exchange deals and cash handling on the showroom floor
- Owners and partners of family jewellery businesses who set pricing and control policies
Course Outline:
Day 1: Gold Jewellery Retail Economics and Showroom Baseline
- Gold Jewellery Value Chain From Workshop to Showroom Counter
- Karat and Millesimal Fineness Conversion Table for Counter Staff
- Daily Gold Rate Board Updating and Price Sheet Discipline
- Gross Margin Sources Across Metal, Making Charge and Stones
- Showroom Baseline Review of Pricing, Stock and Buy-Back Practice
Day 2: Pricing Formulas, Hallmarks and Gemmology Basics
- Retail Price Formula With Net Weight, Purity and Making Charge
- Making Charge Models per Gram, Percentage and Fixed Piece
- Hallmark Reading With Fineness Marks and Maker Marks
- Diamond 4Cs Grading Report Reading for Sales Staff
- Coloured Stone Species, Common Treatments and Disclosure Wording
Day 3: Weight-Based Inventory Control and Counter Operations
- Weight and Piece Tagging With Barcode or RFID Labels
- Daily Counter Opening and Closing Weight Reconciliation Routine
- Workshop Issue and Return Records With Loss Allowance Tracking
- Consignment and Memo Stock Registers for Supplier Pieces
- Slow-Moving Design Ageing Report and Remelt Decision Rules
Day 4: Buy-Back Pricing, Verification Risk and Financial Crime Controls
- Scrap Gold Buy-Back Pricing With Melt and Refining Deductions
- Old Gold Exchange Deals and Making Charge Treatment
- XRF, Touchstone and Acid Testing Limits With Plated Items
- Customer Due Diligence and Cash Transaction Red Flag Checklist
- Shrinkage Investigation of Counter Theft, Switching and Weighing Errors
Day 5: Case Study Work on the Jewellery Showroom Operating Plan
- Case Retailer Brief With Price Sheets and Stock Ledger
- Case Pricing Rulebook for Gold, Diamond and Stone Lines
- Case Stock Control and Buy-Back Verification Procedure Design
- High-Ticket Counter Selling Script With Certificate Explanation
- Jewellery Showroom Operating Plan Completion and Panel Review
Skills You Will Gain:
- Gold Jewellery Price Calculation
- Making Charge Negotiation
- Hallmark and Karat Verification
- Diamond Grading Report Interpretation
- Coloured Stone Disclosure
- Weight-Based Stock Reconciliation
- Scrap Gold Valuation
- Jewellery Counter Due Diligence
Why Attend This Course:
- Deliver a Jewellery Showroom Operating Plan to the owner or retail director for approval of pricing, verification and stock rules
- Decide which making charge model, buy-back deduction and testing method suits each product line and customer deal
- Avoid weight losses, mispriced pieces, underkarated intake and cash deals that expose the business to financial crime
- Coach counter and stock colleagues using the price formula sheet, reconciliation routine and red flag checklist
Conclusion:
Back at work, the participant presents the Jewellery Showroom Operating Plan to the owner, retail director or partners, who use it to approve the price formula, making charge bands, buy-back deductions, testing steps and daily weight reconciliation before the next stock count. Counter supervisors apply the red flag checklist to cash and exchange deals, and buyers use the pricing rulebook when ordering from workshops. After the first full stock count under the plan, the business should compare recorded weight variances, buy-back margins and escalated deals with expectations and adjust the rules.
Frequently Asked Questions (FAQ):
What should participants know before a jewellery and gold retail management course?
Participants should already work in a jewellery or gold showroom, in buying or in stock control and be familiar with karat terms and weighing gold. No gemmology qualification is needed; diamond and coloured stone basics are taught from grading reports and sample pieces.
How does jewellery and gold retail management differ from a precious metals trading course?
This course runs the showroom: retail pricing, making charges, karat checks, gemstone basics, weighed stock and counter selling. Precious metals trading courses deal with wholesale bullion settlement, leasing and hedging, which are mentioned here only where they affect the daily gold rate.
Why does jewellery and gold retail management rely on weight-based stock control?
Gold jewellery value sits mostly in its metal weight, so piece counts alone hide losses from filing, switching, workshop loss and weighing errors. Daily weight reconciliation against the ledger exposes gaps while they are small and traceable to a counter, a shift or a workshop.
What do participants take back from jewellery and gold retail management training?
Each participant takes back a Jewellery Showroom Operating Plan for a case retailer, with a pricing rulebook, making charge bands, verification procedure, weight reconciliation routine, buy-back rules, a red flag checklist and a counter selling script adaptable to their own showroom.