# News to Know: Gold is beautiful to wear, but also a great investment to keep.

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 16 Nov 2024, 25 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/9e1f7601-8189-4b71-a501-b2ad01324284/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Nidhi Singhvi. Co-founder of Sonalore, discusses how her company is reimagining fine jewelry as both a luxury product and an investment asset. The conversation centers on Sonalore's unique lifetime buyback promise, which allows customers to sell their gold jewelry back to the company at market value, less a processing fee. Purpose of the Interview The primary purpose of the interview was to: • Introduce Sonalore's business model and its lifetime buyback promise. • Educate consumers about viewing gold jewelry as an investment rather than simply a fashion accessory. • Explain how traditional jewelry pricing works and why many consumers lose value when reselling jewelry. • Demonstrate how transparency, technology, and gold market tracking can create a new jewelry-buying experience. • Empower consumers, especially women, to build wealth through wearable assets. Key Takeaways 1. Jewelry Can Be Both Fashion and Wealth Singhvi's core message is that jewelry should not only be an emotional purchase but also a financial asset. Traditionally, consumers buy jewelry for appearance, gifting, or status. Sonalore seeks to redefine jewelry as "wearable wealth," particularly through high-carat gold pieces. Key Point: Gold jewelry can appreciate in value alongside the gold market, creating an opportunity for owners to preserve or grow wealth. 2. Traditional Jewelry Has Significant Markups Singhvi explains that many jewelry retailers charge substantial markups over the actual value of the gold contained in a piece. For example: • A $500 jewelry item may contain only about $100 worth of gold. • Consumers often do not realize how little intrinsic value they are retaining after purchase. • This contributes to poor resale outcomes. Key Point: The industry's pricing model often prevents jewelry from functioning as a true investment. 3. Sonalore's Lifetime Buyback Promise Is the Differentiator The company's most distinctive feature is its buyback program. Customers can: • Purchase 18-karat gold jewelry. • Track the value of their jewelry based on gold prices. • Sell it back to Sonalore at any time. • Receive payment based on current gold market value, minus a processing fee. Key Point: Consumers are given a transparent exit strategy rather than being locked into a purchase. 4. Technology Makes Jewelry More Transparent Singhvi describes a digital platform where buyers can monitor the value of their jewelry similarly to tracking an investment portfolio. Features include: • Daily valuation updates. • Historical performance tracking. • One-click sell-back functionality. Key Point: The experience resembles an investment account more than a traditional jewelry ownership model. 5. Gold Is a Better Investment Than Diamonds One of the interview's strongest educational moments involved the comparison between gold and diamonds. Singhvi notes: • Gold is globally traded and easily valued. • Diamonds often experience steep depreciation when resold. • Consumers may recover only a small percentage of the diamond's purchase price. She also discussed the rise of lab-grown diamonds, which are changing traditional jewelry economics. Key Point: Gold's liquidity and transparent pricing make it a stronger investment vehicle than diamonds. 6. The Company Wants to Bring an Asian Wealth-Building Concept to America Singhvi explains that in many…

## Transcript

[0:00] Speaker 1: Hi. I am Rashan McDonald, a host of weekly Money
[0:03] Speaker 1: Making Conversation Masterclass show. The interviews and information that this
[0:06] Speaker 1: show provides are for everyone. It's time to stop reading
[0:09] Speaker 1: other people's success stories and start living your own. If
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[0:15] Speaker 1: visit our website, Moneymakingconversations dot com and click the be
[0:20] Speaker 1: a Guest button. Press submit and information will come directly
[0:23] Speaker 1: to me. Now, let's get this show started. My guess
[0:26] Speaker 1: is the co founder or fine jewelry company that she's
[0:29] Speaker 1: gonna tell you in a minute, because I don't want
[0:30] Speaker 1: to mess up the name. It's an innovative etailer that
[0:34] Speaker 1: if you've been reading, if you google it, it's popping
[0:36] Speaker 1: up everywhere. They transform the fire jewelry sector with a
[0:40] Speaker 1: lifetime buy back promise. Did you hear what I said?
[0:44] Speaker 1: A lifetime buy back promise. This allows consumers to sell
[0:47] Speaker 1: back their gold jewelry for cash or credit anytime at
[0:52] Speaker 1: market value with just one click. Please, she's here to
[0:57] Speaker 1: tell us all about it. Please Welcome to the Money
[0:59] Speaker 1: Making Conversation and master Class. Nitty sing the How are
[1:02] Speaker 1: you doing, Nitty?
[1:04] Speaker 2: I'm very good? Thanks for having me first.
[1:06] Speaker 1: Of all, where are you calling from.
[1:08] Speaker 2: I'm calling from Palo Alta, California.
[1:11] Speaker 1: West Coast, West Coast, West coast. Tell me when you
[1:14] Speaker 1: say jewelry, you know watches can be jewelry, ear rings, rings, necklaces,
[1:24] Speaker 1: jew as a couplelinks you know to be considered jewelry.
[1:27] Speaker 1: So when you say jewelry, please help me out with
[1:30] Speaker 1: that definition first.
[1:32] Speaker 2: So currently, in the narrow definition, jewelry is basically whatever
[1:38] Speaker 2: you wear like you know, metal wise, or it could
[1:43] Speaker 2: be it could be a fine jewelry, or it could
[1:46] Speaker 2: be fashion jewelry, but anything that you were to feel good,
[1:50] Speaker 2: look good, and it could be an emotional statement that
[1:54] Speaker 2: you're wearing. What Sonore wants to.
[1:58] Speaker 1: Do with which is the name of your company?
[2:00] Speaker 2: That's the name of a company. Yes, we want to
[2:03] Speaker 2: turn this emotional statement into a financial statement as well.
[2:08] Speaker 2: You're wearing your wealth when you're wearing jewelry.
[2:11] Speaker 1: Wow, I never saw it that way. So if I
[2:15] Speaker 1: buy the right coupling, I can wear my wealth as
[2:19] Speaker 1: well as wear a jewelry because I never saw I'll
[2:22] Speaker 1: be honest with you, I never saw jewelry as an
[2:24] Speaker 1: investment in my mind. You know, I think of a
[2:27] Speaker 1: home as an investment, maybe a car. I think of
[2:30] Speaker 1: stock of course as an investment land, but I never
[2:34] Speaker 1: saw jewelry as an investment. I know it is possible.
[2:37] Speaker 1: I saw goal as an investment. So what is wrong
[2:40] Speaker 1: with my mindset not seeing what you're seeing?
[2:44] Speaker 2: You're absolutely right. You know, when we think jewelry, we
[2:47] Speaker 2: always think beautiful or emotional, and never investment that can
[2:52] Speaker 2: make us money. But at son Lore, what we are
[2:55] Speaker 2: doing is we're selling beautiful jewelry that can actually make
[3:00] Speaker 2: you money. So gold went up forty last year, and
[3:05] Speaker 2: if you were to buy a necklace from son Alor,
[3:08] Speaker 2: you could actually sell it back to us and make
[3:11] Speaker 2: a profit on it.
[3:13] Speaker 1: Okay, Now, really help me out there, because you know,
[3:17] Speaker 1: you actually sell the jewelry. So, because I'm just trying
[3:21] Speaker 1: to get a sense of the brand because I went
[3:23] Speaker 1: on the website, I'm looking around and people are hearing
[3:26] Speaker 1: this for the first time, and so I don't want
[3:28] Speaker 1: to throw any confusion. So walk us through your brand first, Nitdi,
[3:35] Speaker 1: and then we'll go into the next step. Because I
[3:38] Speaker 1: started with the broad conversation about what is jewelry. Now
[3:42] Speaker 1: let's get back to your company and your format and
[3:45] Speaker 1: the way people can benefit from how you're presenting it
[3:48] Speaker 1: with this like time buy back guarantee.
[3:51] Speaker 2: Perfect. So son Alor offers eighteen carried gold jewelry, and
[3:59] Speaker 2: this is jewel read that you can wear and enjoy,
[4:03] Speaker 2: and then if there is a time when you want
[4:06] Speaker 2: to either upgrade or switch it out, you can sell
[4:09] Speaker 2: it back to us at market prices of gold. So
[4:14] Speaker 2: wear it, enjoy it. Eighteen carded gold, very premium jewelry,
[4:19] Speaker 2: and then you can track it and sell it like
[4:22] Speaker 2: an investment. So what happened, I'll give you a little
[4:26] Speaker 2: bit background. So what happens is when you buy jewelry
[4:30] Speaker 2: at any other jeweler, there is about two hundred to
[4:34] Speaker 2: five hundred percent markup on the gold value that is
[4:38] Speaker 2: in the jewelry. So say you have you buy something
[4:43] Speaker 2: for five hundred dollars, you only have about one hundred
[4:48] Speaker 2: dollars worth of gold in.
[4:49] Speaker 1: It, right, Right, that's why they went from jewelry. Right
[4:53] Speaker 1: there is that way, Okay, but.
[4:56] Speaker 2: That's not how it's supposed to be. Right, It's supposed
[4:59] Speaker 2: to be gold. Then you obviously have some markup for
[5:04] Speaker 2: like the artisans actually working on it, and then you
[5:07] Speaker 2: sell it and I know I might be describing an
[5:11] Speaker 2: alien concept, but this concept actually exists in Asia. This
[5:15] Speaker 2: is how jewelry is sold in Asia, with gold at
[5:20] Speaker 2: its center and then a premium on top of it.
[5:24] Speaker 2: And jewelry is seen as an investment in Asia, and
[5:27] Speaker 2: it is seen as part of your work. That is
[5:30] Speaker 2: the concept we're trying to bring to the United States.
[5:34] Speaker 2: We want to make every woman, for sure and few
[5:38] Speaker 2: men an investor in gold through jewelry.
[5:42] Speaker 1: Yeah, let me just talk about my community. You know,
[5:44] Speaker 1: I'm African American person of color, and you look at
[5:47] Speaker 1: music videos and jewelry has always been seen as to
[5:51] Speaker 1: me as bling blain, which means that technically not an investment,
[5:56] Speaker 1: just a showpiece show people you have money to show
[5:59] Speaker 1: people you got to going on. And I think that's
[6:01] Speaker 1: the level of education I've had with jewelry. I never saw,
[6:04] Speaker 1: Like I clearly know that I can buy stock in Apple,
[6:08] Speaker 1: I can buy stock and IBM or Intel. But because I,
[6:12] Speaker 1: throughout my life have been presented with jewelry as an
[6:16] Speaker 1: item of decoration in music videos, which dominated a large
[6:21] Speaker 1: part of my life, as blame and a show piece
[6:25] Speaker 1: that has miscalculated to me in this direction. Is it
[6:28] Speaker 1: only in my community. I shouldn't say general just with
[6:30] Speaker 1: Sean McDonald's vision. I don't want to make a sweeping
[6:34] Speaker 1: generalization for my entire community. But that's the education that
[6:39] Speaker 1: you have to break through right now, is letting people
[6:41] Speaker 1: know in general my community as well as other communities
[6:45] Speaker 1: about the investment opportunities in jewelry. Now it's just something
[6:49] Speaker 1: you wear, correct.
[6:52] Speaker 2: That's absolutely right and question. I think there are a
[6:55] Speaker 2: time where this education might be easy year than other
[7:00] Speaker 2: times because gold is at an all time high, and
[7:04] Speaker 2: last year we had so many meals items where Costco
[7:07] Speaker 2: was selling out of gold bars right right, So people
[7:11] Speaker 2: know that gold has value, goal is an investment item,
[7:17] Speaker 2: even for like normal people and not just big investors anymore.
[7:21] Speaker 2: So what we are saying is gold is gold, right
[7:25] Speaker 2: cold is part of your jewelry as well. Let's start
[7:28] Speaker 2: seeing it as something that you value. One other thing
[7:33] Speaker 2: I wanted to bring up is bond shops, right.
[7:37] Speaker 1: I was going to go to pawn shops too. Now,
[7:39] Speaker 1: before we go to pawn shop, let me talk about
[7:40] Speaker 1: you for a minute. You're young. Okay, there's another stereotype
[7:45] Speaker 1: I'm gonna throw out there. I would think that a
[7:47] Speaker 1: person who's in the jewelry business who's providing the opportunity
[7:52] Speaker 1: to buy jewelry from your company is rich? Or have
[7:56] Speaker 1: an investor who has a lot of money. Am I
[8:00] Speaker 1: saying the wrong things when I talk to you, nitty?
[8:03] Speaker 1: Or how did you establish this company to be in
[8:06] Speaker 1: a position to be an etailer for us to come
[8:10] Speaker 1: to you by jewelry and attach a life time by
[8:15] Speaker 1: back guarantee.
[8:17] Speaker 2: So I'll give you my background. I do have a
[8:22] Speaker 2: Ivy League education. I have worked in different big and
[8:28] Speaker 2: small companies in the past, so I'm bringing definitely a
[8:31] Speaker 2: lot of experience to the table. Now money portion. I
[8:40] Speaker 2: think I've put in the hard work in my life
[8:44] Speaker 2: to buy myself a few years to actually pursue this
[8:47] Speaker 2: business opportunity, which I think I'm very passionate about. Again,
[8:51] Speaker 2: the mission is to make every woman an investor in gold.
[8:56] Speaker 2: So that's how I see it from investment point of view.
[9:00] Speaker 2: Not very crazily funded. We're not a Silicon valley, you know, startup.
[9:07] Speaker 1: PC's and all that venture capitalists in pushing your brain.
[9:12] Speaker 1: I won't see you on short tank. I won't see
[9:14] Speaker 1: you on short tank.
[9:16] Speaker 2: That'd be great, that'd be good publicity. Yeah, but we
[9:22] Speaker 2: right now, we're we have some money, but we are
[9:26] Speaker 2: you know, spending every dollar very wisely. The majority of
[9:31] Speaker 2: our money is going into the education piece that you
[9:35] Speaker 2: mentioned and then just giving customers a very good experience.
[9:39] Speaker 1: Right now, let's get back to pawn shops because that
[9:42] Speaker 1: was the first thing that came in the mind. When
[9:44] Speaker 1: you have jewelry, you think of some value. Let me
[9:48] Speaker 1: just tell you I, because we're talking about goal can
[9:51] Speaker 1: we talk about diamonds, Can we talk about pearls. We
[9:54] Speaker 1: can talk about all levels of jewel but let's talk
[9:56] Speaker 1: about pawn shops in general. You know what, I've never
[10:00] Speaker 1: seen them give you any value to your property, whether
[10:06] Speaker 1: it's a television, a television or or any device that
[10:11] Speaker 1: you wanted to come in and try to get some
[10:12] Speaker 1: money because you in a state of needing money. How
[10:16] Speaker 1: do you differ from a pawnshop when it talks about
[10:20] Speaker 1: buy back or buying or returning something.
[10:24] Speaker 2: So I want to start at the point where we
[10:27] Speaker 2: were talking about jewelry not being seen as an investment. Yes,
[10:32] Speaker 2: sown shop. The biggest category at pawn shops is goal
[10:37] Speaker 2: related things. So you know, maybe when we're buying jewelry,
[10:42] Speaker 2: We're not associating value investment, but if there is a
[10:46] Speaker 2: time in our life and we have to sell it,
[10:48] Speaker 2: we're definitely associating some value to it. Right. But now
[10:52] Speaker 2: what happens that pawn shops is, as you mentioned, the
[10:55] Speaker 2: experience is horrible, right, If you really really need to
[11:01] Speaker 2: go to a punch shop, that's when you would go
[11:03] Speaker 2: to a pawn shop. Otherwise no person would want to
[11:06] Speaker 2: go through that experience parking, walking in there, and then
[11:10] Speaker 2: you know, having that that entire or do you Pops
[11:16] Speaker 2: would give you about I would say thirty to forty
[11:20] Speaker 2: percent of the value, whereas at sonalor what we would
[11:24] Speaker 2: do is if you buy some jewelry from us and
[11:27] Speaker 2: you want to sell it back, we would take fifteen
[11:29] Speaker 2: percent as as charges on just you know, processing and
[11:34] Speaker 2: melting the metal, but we'll give you most of your
[11:36] Speaker 2: value back.
[11:38] Speaker 1: Okay, cool, Okay, cool, Please don't go anywhere.
[11:41] Speaker 3: We'll be right back with more Money Making Conversations master Class.
[11:50] Speaker 3: Welcome back to the Money Making Conversations master Class, hosted
[11:54] Speaker 3: by Rashan McDonald. Money Making Conversations Masterclass continues online at
[11:59] Speaker 3: money Making Conversations dot com and follow money making Conversations
[12:03] Speaker 3: masterclass on Facebook, Twitter, and Instagram.
[12:08] Speaker 1: Now let's talk about we've been stuck on diamonds. Goal,
[12:11] Speaker 1: Let's talk about diamonds. Let's talk about pearls. I'm just
[12:14] Speaker 1: trying to expand myself.
[12:15] Speaker 3: In this whole.
[12:16] Speaker 1: I don't own any diamonds. I've only owned it. I've
[12:19] Speaker 1: only right. And so what is the if you were
[12:24] Speaker 1: if you were talking about investments. Now that we're talking
[12:26] Speaker 1: about idiot investments, I'm a naive person. I'm coming to
[12:30] Speaker 1: you for advice. What would you tell me to do?
[12:34] Speaker 2: Ah, this is how you get into trouble. Diamonds are
[12:40] Speaker 2: not a very good investment.
[12:42] Speaker 1: Okay, why I hear diamonds a girl's best friend. That's
[12:45] Speaker 1: what the rumor is for sure.
[12:50] Speaker 2: But they're not the best investments because you know, like
[12:57] Speaker 2: we've all read about it, right, the Beers has the
[13:00] Speaker 2: power on pricing diamonds. What happens with diamonds is that
[13:06] Speaker 2: they're so marked up that when you actually go to
[13:11] Speaker 2: sell it back as a normal person, you get like,
[13:15] Speaker 2: I don't know twenty percent of what you paid for.
[13:17] Speaker 1: Wow.
[13:19] Speaker 2: So that's why Goal, which is traded internationally, is a
[13:26] Speaker 2: way better investment than diamonds, but now we are changing
[13:30] Speaker 2: the dynamics and diamonds as well. The new concept of
[13:34] Speaker 2: lab diamonds, which is again fraction of the cost of
[13:38] Speaker 2: a natural diamond, is getting us back to the point
[13:44] Speaker 2: of like jury can be an investment because diamond now
[13:48] Speaker 2: will be a fraction of the cost in a necklace,
[13:51] Speaker 2: whereas it would be a huge portion of the cost
[13:54] Speaker 2: but natural. So lab diamonds are again changing that dynamic
[13:59] Speaker 2: and making true read more of an investment.
[14:02] Speaker 1: Okay, cool, Now there's some of us some questions. I'm
[14:04] Speaker 1: gonna ask this question because I didn't know what can
[14:07] Speaker 1: you tell us about your exquisite green emerald line, specifically
[14:10] Speaker 1: that because I'm trying to find out what to go
[14:13] Speaker 1: there and buy, and then I saw the word exquisite
[14:16] Speaker 1: Woo emerald green talk to us about that.
[14:21] Speaker 2: So again, I think emeralds are rare, emeralds are beautiful,
[14:25] Speaker 2: And what we have done is we have created a
[14:27] Speaker 2: lot of unique jewelry pieces, both in natural emberals and
[14:31] Speaker 2: lap drown emeralds. So these are very high quality Columbian
[14:36] Speaker 2: green emeralds that you'll see in our eighteen catc could jewelry.
[14:40] Speaker 1: Now we're talking about consumers we're talking about at this
[14:43] Speaker 1: point in our life, you know, we're trying to put
[14:46] Speaker 1: the money in the right place.
[14:48] Speaker 2: Yeah.
[14:49] Speaker 1: So when I'm looking at gold, I'm looking at that
[14:54] Speaker 1: these are the things that I consider jewelry that have value. Pearls, diamonds, gold,
[15:02] Speaker 1: Am I missing anything?
[15:06] Speaker 2: I think you have rubies and sapphires?
[15:07] Speaker 1: But yes, okay, woo, you get deeper with me. That's
[15:11] Speaker 1: rubies after pearls and you saying sapphire. So I would
[15:16] Speaker 1: never have bought bought a ruby or considered buying a ruby,
[15:20] Speaker 1: never bought a sapphire, but I have bought pearls, I
[15:24] Speaker 1: have bought diamonds, and I have bought gold. Okay, Now,
[15:29] Speaker 1: when you start looking at your company and the model,
[15:33] Speaker 1: because you said Rashan, the way to go is gold,
[15:36] Speaker 1: is that the direction as a consumer trying to invest,
[15:40] Speaker 1: trying to grow their value with their dollar. Is that
[15:43] Speaker 1: the direction that you were pushing the go?
[15:46] Speaker 2: Yeah? I think so, and especially like high carded gold, right,
[15:51] Speaker 2: because that is more goal than anything else for a consumer. Right.
[15:57] Speaker 2: What I would say is if you're trying to buy cheldren, right,
[16:00] Speaker 2: just ensure that you're getting good value for your dollar.
[16:04] Speaker 2: Just ensure that you understand how much goal is in
[16:07] Speaker 2: there and that you're paying as for the amount of
[16:12] Speaker 2: wold you get. So that's what I would say, that
[16:15] Speaker 2: you know, buying jewelry is actually buying gold that you
[16:20] Speaker 2: can wear.
[16:22] Speaker 1: Right before I get to my next question about the
[16:25] Speaker 1: challenges and pain points consumer's face we're trying to sell
[16:27] Speaker 1: their jewelry, explain to us one more time in detail
[16:33] Speaker 1: the lifetime buy back guarantee.
[16:36] Speaker 2: Sure, so, I think as we mentioned right, like, say
[16:41] Speaker 2: you buy a necklace from so and Alrea. It's a
[16:46] Speaker 2: beautiful gold necklace. You bought it, you have enjoyed it,
[16:50] Speaker 2: you wore it to like parties and everything, and now
[16:54] Speaker 2: you want to upgrade it to something else. You want
[16:57] Speaker 2: to buy a Goal plus diamond necklace. So what you
[17:00] Speaker 2: can do is you go through your Sooner account. You'll
[17:04] Speaker 2: see a beautiful graph just like your Robinhood app, where
[17:08] Speaker 2: it will show the daily value of your necklace over
[17:11] Speaker 2: the past year. Oh wow, Yeah, it will also show
[17:14] Speaker 2: you that gold went up forty and you bought the
[17:18] Speaker 2: necklace at whatever one thousand dollars.
[17:21] Speaker 1: It's one thousand dollars and so on your app you'll
[17:24] Speaker 1: be able to see the value of your.
[17:26] Speaker 2: Necklace exactly every single day because gold moves every single day.
[17:32] Speaker 1: Wow, okay, And so that allows you to make a
[17:36] Speaker 1: decision if you want to self your investment back to
[17:40] Speaker 1: your back to you guys exactly. Okay, Chris there, let's
[17:44] Speaker 1: talk about this. Okay. So I've boned in, went to
[17:48] Speaker 1: your side, brought me a gold necklace for one thousand dollars.
[17:52] Speaker 1: I've been watching it and tracking it hitler bumping the rod,
[17:55] Speaker 1: and there's at fifteen hundred dollars. Okay. Now what happens
[18:00] Speaker 1: when I want to bring it back to you and
[18:03] Speaker 1: I bought it for a thousand? Now how much can
[18:05] Speaker 1: I make off that necklace? First of all, I know
[18:07] Speaker 1: I'm not going to lose any value, correct, exactly? Okay, cool,
[18:10] Speaker 1: talk to me.
[18:12] Speaker 2: So now you like, you know, we're saying that the
[18:14] Speaker 2: goal went up, right, and now the necklace is say
[18:18] Speaker 2: fifteen hundred or twelve hundred whatever, you know, good time.
[18:23] Speaker 2: You'll have a button on your account and you can
[18:26] Speaker 2: click sell, and then our team sends you an email
[18:29] Speaker 2: saying okay, you want to sell, you know, just confirming
[18:32] Speaker 2: this is the unit, and we send you a prepaid
[18:35] Speaker 2: shipping label. You should bust the necklace. We again see
[18:40] Speaker 2: tested that it's the real deal, and then we give
[18:42] Speaker 2: you an offer.
[18:43] Speaker 1: That they they say, hey, we won't test it. Okay, okay,
[18:50] Speaker 1: do cus.
[18:53] Speaker 2: And then an offer and that will be fifteen percent
[18:58] Speaker 2: lower than the value you see because again there.
[19:02] Speaker 1: Is so basically you're saying that that the if it's
[19:06] Speaker 1: fifteen hundred dollars, you paying me back to maybe fifteen
[19:10] Speaker 1: fifteen percent less than that.
[19:12] Speaker 2: That's right.
[19:13] Speaker 1: Wow, I'm not mad at that. I'm not mad at that.
[19:15] Speaker 1: I never thought of that. That concept is interesting. I
[19:19] Speaker 1: have to say, why haven't we seen that before?
[19:23] Speaker 2: Yeah, the issue stems from that. The jewelry is so
[19:27] Speaker 2: marked up when you buy it. Can I imagine, right,
[19:30] Speaker 2: like your jeweler sells you something for a thousand dollars
[19:33] Speaker 2: and then they were to show you a graph of
[19:37] Speaker 2: your goal. They sold your goal of two hundred dollars
[19:40] Speaker 2: to begin with, so you'd just be mad to see that. Okay,
[19:44] Speaker 2: my necklace is worth two hundred dollars, right, So they will.
[19:48] Speaker 1: Never versus eight dollars price that you paid for.
[19:51] Speaker 2: Exactly, so they don't want to get into that. You
[19:57] Speaker 2: only realize when you actually go to a pawn shop.
[20:00] Speaker 1: Right, show breaks all your dreams down exactly. Okay, And
[20:08] Speaker 1: I'm sad if I'm sounding like wow, you know because
[20:11] Speaker 1: the journey as we talk, you're educating me. And that
[20:13] Speaker 1: was the whole key for me bringing on the show
[20:16] Speaker 1: is to understand exactly, but to go to your app
[20:19] Speaker 1: or go to your site. You can track the value
[20:22] Speaker 1: of your jewelry that you purchased based on how it's
[20:26] Speaker 1: buying and selling in this situation goal and I see
[20:28] Speaker 1: why you're recommending gold because it's trackable. Every day you
[20:32] Speaker 1: can see your value go up and down, and it
[20:35] Speaker 1: becomes an investment, an investment that they can bring back
[20:39] Speaker 1: to you guys, which means that whatever it is is
[20:42] Speaker 1: going to be a fifteen percent charge to buy it
[20:46] Speaker 1: back at minimums. Mindus what you what the value is?
[20:52] Speaker 2: That's right?
[20:53] Speaker 1: Wow?
[20:53] Speaker 2: The current value?
[20:54] Speaker 1: So again, you think I can work for you? Nay?
[20:57] Speaker 1: You think I'm getting the Okay? Cool. Now let's get
[20:59] Speaker 1: to the question that I held off of the challenges
[21:02] Speaker 1: and pain points consumers face when trying to sell that
[21:05] Speaker 1: jewelry not to you guys, yea, the problems that they
[21:10] Speaker 1: have where do they go other than a pawnshop.
[21:14] Speaker 2: So no jewelry store right now offers your buy back guarantee.
[21:19] Speaker 1: Okay, no, no.
[21:21] Speaker 2: Other jeweler does that, so let's begin with that. So
[21:24] Speaker 2: there is no option for you to just go and
[21:27] Speaker 2: return it to the original person that you bought her from.
[21:31] Speaker 2: Now the options you have are like eBay, where it
[21:34] Speaker 2: can take forever and you really don't know who you're
[21:37] Speaker 2: selling to, or.
[21:40] Speaker 1: I'm just tell you this. You know, you should always
[21:45] Speaker 1: open up with that example about the being able to
[21:49] Speaker 1: see your jewelry and being able to watch its value grow,
[21:55] Speaker 1: using goal as an example, the light bulb went above
[21:58] Speaker 1: my head right there. I understand what you're saying investment,
[22:01] Speaker 1: because I've never known jewelry to be treated like that,
[22:06] Speaker 1: and I know when I go to a traditional store,
[22:09] Speaker 1: I'm probably buying an overpriced item. And I've went in
[22:12] Speaker 1: there with people I suppose to had the hookup or
[22:17] Speaker 1: knew the man behind the counter, the man, the man
[22:19] Speaker 1: hand behind the counter, and I still walked out of
[22:22] Speaker 1: there feeling I paid more than I should have paid
[22:26] Speaker 1: in this situation. Being a detailer, anybody who brings their products,
[22:30] Speaker 1: anybody who comes to you buys the product you said Rashwan.
[22:34] Speaker 1: They're not buying an overpriced item. Correct, that's right.
[22:38] Speaker 2: They know exactly what they're getting into because we'll give
[22:40] Speaker 2: you a breakdown of call. We'll give you the breakdown
[22:43] Speaker 2: of the gemstone cost, and we'll give you that this
[22:46] Speaker 2: is you know how much it costs us to bring
[22:49] Speaker 2: this piece to you because to be honest, like we
[22:51] Speaker 2: have costs to right import duties and packaging and all
[22:56] Speaker 2: of that. So we break it down very cleanly for
[22:59] Speaker 2: you right at the picnic and then every single day,
[23:03] Speaker 2: you know how much does it cost?
[23:06] Speaker 1: Ladies and gentlemen. They're offering a lifetime bypack promise. I
[23:10] Speaker 1: say guarantee. They said lifetime buy back promise, and tell
[23:14] Speaker 1: them how they can reach out to you. To the
[23:16] Speaker 1: detail location of the website right now, nitty.
[23:19] Speaker 2: Sure, it's ww dot sona lore dot com so sooner
[23:24] Speaker 2: lor s O NA l O R. And we're on Instagram,
[23:30] Speaker 2: which is sooner lord dot Jewelry.
[23:33] Speaker 1: My friend. Thank you for educating me, and thank you
[23:36] Speaker 1: for I'm telling you know. I got a couple of links.
[23:39] Speaker 1: I just buy them because they're nice. I buy a
[23:41] Speaker 1: watch because I buy it because it's nice. I never
[23:44] Speaker 1: look at the idea of treating it as an investment,
[23:47] Speaker 1: because I only try to buy the most reasonly priced
[23:50] Speaker 1: thing that I see off the shelf. But you're telling me, Rashan,
[23:54] Speaker 1: go to your website and there's value there that can
[23:57] Speaker 1: be treated as an investment and then yes, it is
[24:00] Speaker 1: tied to a lifetime by back promise. Thank you for
[24:05] Speaker 1: coming on Money Making Conversations Masterclass. This has been another
[24:12] Speaker 1: edition of Money Making Conversation Masterclass posted by me Rushaun McDonald.
[24:16] Speaker 1: Thank you to our guests on the show today and
[24:18] Speaker 1: thank you for listening to audience now. If you want
[24:21] Speaker 1: to listen to any episode I want to be a
[24:23] Speaker 1: guest on the show, visit Moneymakingconversations dot com. Our social
[24:27] Speaker 1: media handle is money Making Conversation. Join us next week
[24:31] Speaker 1: and remember to always leave with your gifts. Keep winning

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