Jeweler retirement sale achieves 20 percent more than expected.
Phil Wagers’ jewelry store had done well, but now he needed to retire, and there were no family
members to take over the store. Silverman Consultants helped sell nearly all his inventory
plus additional merchandise, leaving him with substantial cash for retirement.
Wagers Jewelers [Mount Pleasant, SC]
Phil Wagers had a desire to spend more time with his family and was pondering retirement. While researching the most efficient way to close his jewelry store in Mount Pleasant, South Carolina, Phil met with the experts at Silverman Consultants. “Working with Bob Epstein and John Jones was great from the start,” explained Phil Wagers. “Even before we met, they had already learned the reputation and history of Wagers Jewelers, and had prepared strategies to make the sale the greatest success possible.”
Phil Wagers was looking at two options, selling his store or running a store closing event with Silverman, as there were no family members to take over the store. After reviewing several sale options, none of which would generate enough cash quickly enough for Phil to enjoy his retirement, he decided to hire Silverman to conduct a professional sale event.
“The sale was an unbelievable success! We had customers waiting at the door for us to open in the morning, and lined up at the cash register all day on the weekends” said Phil. The sale generated more cash than Phil Wagers had anticipated. He was able to sell practically all of his inventory plus a substantial amount of additional product. The result was a net recovery after all expenses, exceeding any of Phil’s expectations and leaving him with substantial cash for his retirement.
Phil Wagers summed it up as follows: “You can not run a going out of business sale alone. It is foolish to try. A skilled liquidator can bring in more merchandise, bought right and on consignment. The net results will be a much higher yield than you would have achieved by trying to clear out your goods on your own.”