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Sparkling Reputation: Andrew & Peter Fabrikant

by brian
Wednesday, October 30, 2013
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Andrew & Peter Fabrikant, the premier diamond and estate jewelry-buying business in the U.S., calls upon its 140-year history and unmatched industry expertise to help those seeking to sell jewelry.


How does Andrew & Peter Fabrikant’s 140 year history influence your business today?

Andrew Fabrikant: Tradition and history are a key element to our brand and business. Both Peter and I are part of a long family history in jewelry; for four generations our family has been appraising, buying and selling estate jewelry. In the process, we have built a trusted, respected business that has become known around the world. Nearly every aspect of our business—from developing broker relationships, to working with clients, to selling jewelry—is enhanced by the family name and reputation

What distinguishes Andrew & Peter Fabrikant from auction houses and other competitors?

AF: We are able to position our clients to receive the most money for their jewelry without the large fees associated with auction. In addition, our clients maintain control of their jewelry until they are satisfied and we can guarantee a sale. And beyond those advantages, Peter and I are involved with every transaction, so by being the market experts and having the best resources to sell, we establish advantageous prices for our clients. There are no fees if we don’t complete a sale. As far as auction houses, they take a large commission of the jewelry you sell, up to 40 percent of the value. We offer more money and less risk. Plus, we recently developed one of the largest online diamond- and estate-buying services in the country—so you don’t have to be in New York to get top dollar for the jewelry you’d like to sell.

Tell us about your clients and the services you provide to ease the unknown challenge associated with selling jewelry?

AF: Our clients’ ultimate satisfaction drives our success and is the most rewarding aspect of our daily work. Our clients come to us for a range of reasons: some have gone through life-changing events and need financial support; others seek to pay for a divorce and its aftermath; some are splitting an inheritance; and there are those who wish to raise money for charity. We’ve worked with people who need to pay medical bills, parents hoping to raise tuition money and individuals seeking to improve their finances—we help all of them get the most value out of their jewelry. I find that the best part of what I do is helping people make a positive step in the right direction.

How are you and Peter able to secure the best prices for your clients?

AF: Our network and knowledge of both the market and demand puts us in a unique
position to help our clients get the most money for their jewelry. We are intimately familiar with regional demands, sales trends and networks, from knowing what stones are popular in Asia, to knowing whom to call on the West Coast of the U.S. to best facilitate a sale. Knowing where to place, how to market and whom to call is just as important as knowing the four C’s of diamond grading. And we have the resources and experience to handle all ranges of jewelry, from a large estate to individual pieces. We’ve sold everything from 30-carat diamonds to Fabergé eggs to all types of precious stones. At the end of the day, our clients receive the benefits of our networks and price leveraging without having to pay commission fees.

How has your website, FabOn5th.com, revolutionized your trade?

AF: It’s opened up the world. Anybody in the U.S. and beyond can read about what we do and contact us. Even if people don’t have access to the New York market, we give them the opportunity to have a top professional look at, evaluate and market their jewelry. For example, your local jewelry retailer may not have an interest in something that doesn’t fit their inventory, but we have a market for virtually everything in the jewelry world.

 

ANDREW & PETER FABRIKANT
555 Fifth Avenue ◆ 8th Floor ◆ New York, NY 10017 ◆ 212.557.4888 ◆ Fabon5th.com

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