SOURCE: 66Mint Fine Estate Jewelry

Cross Marketing PR

September 10, 2014 10:34 ET

66Mint, San Francisco's Premier Seller of Fine Estate Jewelry, Launches New Web Platform for Dealers Worldwide

Memogems Allows Dealers Around the World to Sell Merchandise on "Virtual Memo"

SAN FRANCISCO, CA--(Marketwired - September 10, 2014) - Joseph and Marcus Chait, the 3rd and 4th generation father & son owners of 66Mint Fine Estate Jewelry and San Francisco Provident, have launched a revolutionary new web platform called Memogems that allows dealers from anywhere in the world to access their inventory virtually and sell it as if it were their own. Memogems expands the concept of taking a piece on consignment (or 'on memo' as it's commonly referred to in the industry) by showcasing an entire estate jewelry collection on the web and giving select dealers exclusive access to that collection at memo prices. Memogems provides dealers the tools they need to sell the entire 66Mint collection showcasing their name, logo, and prices. This new venture is designed for dealers who have an existing client list and are looking to significantly expand their estate jewelry inventory without having to spend the capital to do so.

As owners of 66Mint, the Chaits took notice as to how often dealers came to them asking to take merchandise on memo, and how successful those dealers were in selling those items. The success of their memo business with dealers around the U.S. got them thinking that there must be a way to give dealers access to the entire inventory, and hence Memogems was born. 

"Memogems can now replace the traditional catalogue business by taking an entire collection and making it available for dealers to sell through an exclusive online e-commerce platform," says Joseph Chait, co-founder of Memogems.

After over a year of research and development, the platform they've created is extremely user friendly and easy to navigate.

How Memogems works:

Step One: Each dealer accepted into the Memogems community is given access to an online control panel where they will see a listing for each individual piece including a photo, brief description, the dealer's cost, and the price at which 66Mint will list each item. 

Step Two: The dealer then sets their price for each item and has the opportunity to match, oversell, or undersell the 66Mint price. Whenever possible, Memogems leaves the dealers room to realistically make anywhere from 30-40% on each sale.

Step Three: Once the dealer fills in what price they want to list each piece for, the product photos, descriptions and prices are instantly published to the dealers public facing web portal, which the Memogems design team creates to look as close to each individual dealer's existing website as possible. 

The dealer's Memogems web portal has all the features necessary to be a company's stand-alone website, or can be seamlessly integrated as a simple link to an existing site. 

"What we've come to learn through Memogems beta testing," says co-founder Marcus Chait, "is that jewelry customers still appreciate buying from someone they trust. 66Mint will never penetrate, for example, the local market in Boise, Idaho as deeply as the jeweler who has been in Boise for 50 years. Memogems gives us the opportunity to work in partnership with that established dealer. We provide exclusive access to one of the most exquisite and expansive collections of estate jewelry on the West Coast, and in turn we get a new source selling our goods to a new customer base where there is already an inherent level of trust."

The 66Mint Collection that the Memogems dealers will have access to is updated daily, with the majority of items being one of a kind estate pieces ranging from simple vintage pieces to important colored stones and large diamonds. 

Dealers interested in being a part of the Memogems network can apply at www.memogems.com.

ABOUT 66Mint: 

Family owned and opereated for four generations and backed by 100 years of tradition. 66Mint has evolved into the premier estate jeweler on the West Coast. Located next to the historic U.S. Mint in San Francisco Soma's district, 66Mint offers exquisite and rare jewelry at an unmatched value.

Beyond 66Mint's international presence, as a dealer of fine jewelry, they have established themselves as an industry leader in the purchasing of gold, silver and jewelry from the public. 66Mint also creates custom pieces designed to their clients' precise specifications and offers their showroom for exclusive jewelry events and receptions.

66Mint's online store is open to the public and the boutique showroom is accessible by appointment.

For more information on 66Mint please visit www.66mint.com or call (415) 982-4402.

Address: 66Mint, Fine Estate Jewelry, Mint Plaza San Francisco, CA. 94103

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