We recently connected with Gili Mor and have shared our conversation below.
Hi Gili, thanks for joining us today. Too often the media represents innovation as something magical that only high-flying tech billionaires and upstarts engage in – but the truth is almost every business owner has to regularly innovate in small and big ways in order for their businesses to survive and thrive. Can you share a story that highlights something innovative you’ve done over the course of your career?
One thing that we offer that no other jewelry store really offers is a jewelry consignment program. Every day people visit Diamond Exchange Houston to sell diamonds and engagement rings. For whatever reason, our customer’s relationships did not work out and now they are wanting to sell their unwanted diamond jewelry. We are very aggressive diamond buyers, however, people come to us initially thinking that their engagement rings are worth a lot more than they really are. Fortunately and unfortunately, we are normally people’s first phone call when they want to sell their jewelry and we have to be the first ones to tell them the true value of their items. The problem with most customers is they shop at retail jewelry stores and pay a lot of money for very low-quality diamonds. Whenever diamond buyers buy engagement rings the most important thing we look at is the main diamond. How many carats and of what quality the main diamond determines the majority of the resale value. Every other jewelry buyer out there offers only 1 option and that is the outright buyout. The problem with the outright buyout is that it is normally relatively low compared to what the customer is wanting and expecting. At Diamond Exchange Houston we give the customers 2 options. The 1st option is the outright buyout and the 2nd option is our jewelry consignment option. As far as we know we are one of the only jewelry stores in Houston that offers jewelry consignment. Our jewelry consignment program allows customers to get a lot more money for their rings and diamonds. We have taken 100’s of rings on consignment and got our customers a lot more money for their goods compared to what they would have originally received. Also, the person buying the consigned jewelry gets a fantastic deal compared to what they would have paid for the same item in any other jewelry store. Our jewelry consignment program is a win-win for all parties involved.
Gili, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I am originally from Israel and my father was a diamond cutter by trade. I grew up in the diamond industry and have spent the majority of my career as a wholesale diamond dealer. Before Diamond Exchange Houston was open to the public I spent a lot of time trading diamonds in major cities such as Miami, Boston, Denver, San Diego, New York City, and Dallas. We first opened the doors of Diamond Exchange Houston to the public 3 years ago. What sets Diamond Exchange Houston apart is that we allow customers to get access to wholesale diamonds so they can get excellent deals on items such as engagement rings and custom jewelry. We do not have the enormous overhead that normal jewelry stores do. We are not set up like typical jewelry stores that have a fancy showroom, an expensive marketing budget, and numerous employees. Diamond Exchange Houston is in an office setting and has very low overhead and we pass the budget savings along to our customers. Our goal when working with every customer is to get a 5 star review. We have an excellent inventory of diamonds and engagement rings and we have low prices that cannot be beaten on most of our items.
Have you ever had to pivot?
As a diamond wholesaler, I was used to flying from city to city every week buying and selling diamonds in the major cities of the United States. When Covid 19 hit suddenly the airlines shut down which allowed traveling by plane impossible. That is when we opened Diamond Exchange Houston to the public and started doing more business locally.
Any stories or insights that might help us understand how you’ve built such a strong reputation?
If customers do their research on Google and are looking for the best place to buy or sell diamonds and engagement rings in Houston they will stumble upon Diamond Exchange Houston. On Google, we have over 180 5 star reviews from our raving fans. We were able to obtain these reviews by having excellent prices, products, and services. We take excellent care of our customers and provide them with amazing products.
Contact Info:
- Website: https://diamondexchangehouston.com
- Instagram: https://instagram.com/diamondexchangehouston
- Facebook: https://www.facebook.com/diamondexchangehouston/
- Twitter: https://twitter.com/htowndiamonds
- Youtube: https://www.youtube.com/c/diamondexchangehouston
- Other: Google- https://g.page/diamondexchangehouston