When I was in college taking an "Economics 101" class, I remember having this one point hammered over and over again: "The law of supply and demand states that a low supply and high demand for any product or service will typically increase its price". That brings me to the title of this post. "Buying Scarcity". After some basic info, I will tie it into the jewelry trade.
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Lon Putman handed this to me over 30 years ago and told me it was going to be the most important tool I would ever use. And he was 100% correct. I use it every time I go into my shop. Many times when I am not even in my shop. When people visit my shop to learn, I start by telling them that this is the most important tool they can ever have as well