$1 million in stock for new jewellery clearance website

2.6 k views | Posted March 13, 2012 | By Aaron Weinman

A new jewellery clearance website from Tony and Leanne Argyle claims twenty retailers have uploaded $1 million worth of stock.

JewelLover.com.au is an innovative new web concept where retailers sell clearance stock through a reverse auction system. Launched last week, the website is the brainchild of Tony and Leanne Argyle, the founders of Jewellery Marketing Solutions (JMS).

The site features a patent pending concept known as the ‘Drop Till You Shop’ reverse auction system. The site lists each item at its normal retail price and the product’s price progressively reduces over time until it’s sold or reaches the reserve placed on it by the retailer.

A timer counts down the cost for prospective buyers, placing them in a situation where they decide to wait for the price to reduce further and risk someone else buying the product, or alternatively, buy it immediately.

Argyle said JewelLover.com.au is another way jewellers could decrease slow moving stock.

“It’s a lot of fun for the customer who can save on quality jewellery,” Argyle said. “It’s also great for jewellers as they get the maximum price for the item rather than setting a fixed price when it could’ve sold for more.”

The site currently has no joining fee for retailers and all get their own page profiling product listings, store details, and links direct to their websites and Facebook pages.

Argyle said customers had the added security of knowing traditional retail stores were supplying stock with their addresses displayed prominently on the site.

“This site serves as a promotional tool to encourage foot traffic into featured retail stores,” Argyle added. “When you consider 43 per cent of consumers prefer to buy online from a bricks and mortar retailer, having established retailers behind the website will allay most of those fears.”

Some retailer’s already aligned with JewelLover include Brisbane-based Xennox Diamond World, Sydney’s House of Fraser, Gold City Jewellery Designers in Wollongong and Verity Jewellers from Perth.

According to Argyle, more than 70 jewellers have expressed interest in joining the site and its Facebook page has accrued more than 4,000 fans. JMS is gearing to launch an online and offline marketing and public relations campaign over the next few weeks.

For a detailed explanation, visit the website here.

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