Can ChatGPT Help Me Sell More Jewelry? Let's Find Out! - Episode #100

[00:00:00] Welcome to the Jewelry Resellers Podcast, your go-to source for all things shiny, sparkly, and of course profitable. I'm your host Desiree and I'll be your guide on this dazzling journey through the world of reselling jewelry. We'll be diving deep into the art and science of reselling, uncovering valuable tips, insider secrets, and sharing stories from successful jewelry resellers. We'll explore market trends, industry news, and even discuss the new jewelry resellers.

[00:00:30] How to Find Those Hidden Gems Just Waiting to be Discovered in Thrift Stores, Estate Sales, and Beyond. So if you're dreaming of turning your hobby into a hustle, or if you're a seasoned pro looking to stay at the top of your jewelry reselling game, join me each week for insights, stories, and more on the Jewelry Resellers Podcast.

[00:00:55] All right, hello jewelry friends. Welcome back to another episode of the Jewelry Resellers Podcast. My name is Desiree and I am your jewelry reselling bestie. Today's episode is going to be something really fun, something that I've been actually curious to try for a while now, because I've been seeing this trend all over social media. And what we're going to do today is we are going to ask ChatGPT how we can improve our jewelry and

[00:01:25] reselling or our jewelry reselling business. Now I am a huge fan of AI. I use it in multiple ways throughout my businesses. And I think that it's something that we need to at least kind of explore and learn more about, especially as resellers, especially as people who want to grow and improve their business.

[00:01:50] I think that this could be something not only fun, but I think it could offer a lot of insight as well. So if you are brand new here, like I said, my name is Desiree and I am the host of the Jewelry Resellers Podcast. And if you are interested in learning how to flip jewelry on sites like eBay, Poshmark, Etsy, and more, well, this is the podcast for you.

[00:02:14] Every week I go into something jewelry or jewelry selling related to help you start, grow, or just do your business better. I have been a jewelry reseller going on, I think, four or five years now. And even though I know a lot, I will admit that I don't know everything.

[00:02:39] So if you would like to learn more about me or about the podcast, make sure you head on over to our website, which is JewelryResellersPodcast.com. Because over there, you can also opt into our newsletter and you can get a freebie that I have created for you, which is the 20 bestselling vintage jewelry brands that I think all resellers should know. Also, if you did not know, I will be speaking at this year's Boss Reseller Remix and tickets are on sale now. This happens in March in Las Vegas.

[00:03:08] And if you would like to go, this is an event that is reseller specific, not necessarily jewelry reseller, but it is a reseller event. So if you would like to go, I do have a discount code for you. All you have to do is use code JEWELRY and you will save some money on your ticket. If you want to learn more about that, I will have a link for you in the show notes.

[00:03:36] All right. So let's go ahead and get right into today's topic. So if you are listening on the audio version of this podcast, you may want to head on over to YouTube and check out the video version because I am going to share my screen as we consult with ChatGPT about how we can improve our jewelry reselling business. So let me go ahead and share my screen.

[00:04:07] Okay. So the prompt I am going to use is you are a jewelry business consultant. Please help me figure out how to improve my jewelry reselling business.

[00:04:32] And give me a guided plan to help me. Sell or resell more jewelry. All right. So that is what we are going to type into ChatGPT and it's going to do what it does. All right. So this is the prompt that I use. Like I said, you are a jewelry business consultant.

[00:05:00] Please help me figure out how to improve my jewelry reselling business and give me a guided plan to help me sell or resell more jewelry. All right. And this is what ChatGPT said. Now ChatGPT does store memory. So I've asked it questions as it relates to jewelry reselling before. So you can see here that when it gives me an answer, it says, since you already have experience in jewelry reselling.

[00:05:29] So it kind of remembers that that's what I do. Let's focus on scaling your business by improving sourcing, pricing, marketing and sales strategies. Here's a step by step plan to boost your jewelry reselling business. All right. So let's take a look at what ChatGPT told us. Number one, business strategy and branding. Define your niche.

[00:05:52] All right. So continue specializing in vintage jewelry, but consider micro niches like Art Deco, Mid-Century, Modern or specific designers like Monet and Trafari. All right. All right. So, you know, this is something that I think I'm kind of already doing. Right. So, so far, just from this one little response, I think that it's pretty much in alignment with what I do and what I'm trying to do.

[00:06:16] It also says brand identity. Ensure all platforms have a cohesive look with consistent fonts, colors and messaging. Great. Also pricing strategy. Use a tiered pricing model, affordable vintage pieces for casual buyers, rare collector pieces at premium pricing. Again, I think we've talked about that here on the podcast. Now, here's where things get really interesting. Sourcing smarter diversifies suppliers.

[00:06:44] Expand beyond thrift stores and estate sales. Explore auctions, online wholesale lots and direct estate buyouts. All right. Now, this is something that I am working on. Now, this is something that I think you eventually grow into. I wouldn't say that this is something that a total beginner could just kind of start right off the bat.

[00:07:06] But I do believe that someone who has been doing this a while and has more than a basic knowledge about jewelry and reselling. This definitely is a an approach that I think totally could work. And actually, in my case, will work because I'm committed to making it work. All right. They also talk about or chat. GPT also said local networking connect with antique dealers, flea market vendors and other resellers who might offer bulk deals.

[00:07:36] All right. Jewelry restoration, learn basic cleaning and minor repairs to increase item value. All right. Now, this is something I haven't really ever been interested in, although I know there are a couple of jewelry resellers who do this and have this as an add on service to their jewelry reselling business. So I do think that this is something that could create a whole nother income stream for some of us.

[00:08:06] All right. So step three, chat GPT says optimize listings and SEO. Now, this is something we talk about a lot here on the podcast because this is something that I believe is very, very important because this is what helps you and your jewelry get found. Because even if you're only listing on eBay, remember when you use strong keywords and you optimize your listings for search engine optimization, your eBay listings will show up on a Google search.

[00:08:35] So you want to make sure that you're using strong keywords, some of the best keywords and have strong titles and descriptions for your jewelry listings. And remember, I created an e-book. If you do need some help with this and I will go ahead and throw that up, throw that up here somewhere because if because I know a lot of people struggle with keywords and I know a lot of people struggle with, you know, how to write strong listings and descriptions.

[00:09:04] So remember, I do have that resource available for you. All right. So chat GPT says keyword optimization. Use high ranking keywords and eBay, Etsy and website product titles and descriptions. All right. For example, vintage 1950s gold filled Trafari bracelet. All right. I think I think that's right on point again. Also, high quality photos and videos.

[00:09:31] Use a light box, natural lighting and macro photography to showcase details. And then detailed descriptions like what we just talked about, including measurements, materials, era and condition. All right. So so far, I think I think chat GPT has pretty much nailed this. I'm actually quite impressed. All right. Let's go on to step four, marketing and social media growth. This is my favorite.

[00:09:59] All right. So chat GPT says short form video strategy, tick tock and reels, jewelry mystery, unboxing, vintage jewelry history, how to spot real versus fake live selling. Again, this is right up my alley. Weekly themed live sales, sterling silver Sunday, art deco Friday are just some ideas. All right. So this is totally my jam. Like I said, chat GPT knows me.

[00:10:26] I don't know if everybody will get the same response if they type in this prompt, but so far I'm really loving it. All right. We also have email list and freebies. Offer a jewelry care guide as a freebie to grow an email list. Now you guys know that I have the 20 bestselling vintage jewelry brands as a freebie to grow my email list. And then you want to send weekly email updates with new arrivals and exclusive VIP discounts.

[00:10:55] Now that is an area I need to get better at. If you guys subscribe to my newsletter, you know that I am not as consistent as I need to be. I admit it. But reading this here, this has kind of given me new motivation and new inspiration to really get on top of that and to, you know, just do better. Now check this out. It says Pinterest and SEO blog.

[00:11:22] I have kind of rediscovered Pinterest as it relates to my marketing strategy. All right. Because I am learning more and more about Pinterest every single day. And I have been pinning over there a lot more than I have in months or even years past. Because from the research I've done, Pinterest isn't really a social media app. It's actually a search engine.

[00:11:48] And so the more we can put our listings or our jewelry or whatever over on Pinterest, the higher chances of our jewelry being found and us making a sale. So if you haven't figured out how to use Pinterest, I highly encourage you to do so. Because I have been pinning not only like my videos and stuff, but I've also been pinning like some of my listings.

[00:12:15] And I have noticed that it's getting more traffic. Now I haven't made a sale yet because I've only kind of recommitted to doing this the past two or three weeks. But like I said, I'm already starting to notice a little bit of a traffic bump, which I think is good. Okay. So if you haven't discovered Pinterest, you know what? Maybe I'll do a episode or a podcast strictly on Pinterest for jewelry because there's a lot that goes into it as I'm learning.

[00:12:43] And I would love to share everything that I'm learning about it with you. So I will definitely put that on my to record list. All right. So you want to pin high quality jewelry images, linking back to listings, blog about jewelry history, trends and care tips to drive organic traffic, which I do try to do every week on the website. All right. So let's talk about step number five, which is sales and customer retention.

[00:13:13] Exclusive offers, reward, repeat buyers with a loyalty discount or mystery gift with purchase. I love that idea. You know, I've done that in some of my live shows. It hasn't been a mystery gift, but I do do a gift with purchase. So whenever somebody buys something in one of my live shows, I give them a freebie. And usually I just have a tray of jewelry out. The last one I did, I had a bunch of earrings.

[00:13:40] And I said, with any purchase, you can choose any one of these vintage earrings that I had. And I had them laid out on a tray. And so after they would make their purchase, I would hold up the tray and they could look and say, oh, I want that blue, blue beaded clip-ons, whatever it was. And I noticed that they really liked that. So if that's not something that you're incorporating in your live shows, give it a try.

[00:14:05] I think that you'll notice that it's a lot of fun and your buyers really appreciate it. All right. The other thing they talk about or the other thing ChatGPT talks about is cross-selling. Suggest complimentary pieces when listing. Pair this brooch with matching clip-on earrings in our shop. I think that's a great idea. Fast shipping and packaging. I think a lot of us are already on top of that.

[00:14:31] I've said this before many times that I always do my shipping within 24 hours of the sale being made because that's just how I do it. And that's what works for me because I like to make sure I get it out as quickly as I humanly can. So fast shipping and packaging, I think, is always good. Now, some people do do this and it says enhance the unboxing experience with branded tissue, thank you notes, and free polishing cloths.

[00:15:01] All right. So if that's something you want to do, I think it can't hurt, you know. But remember, that is going to be an additional expense and additional quote unquote work on your part. So make sure that it makes sense for you and your business. All right. So number six, according to ChatGPT, is passive digital income from jewelry reselling. All right.

[00:15:27] This is something that I am very excited about and this is something that I have incorporated into my jewelry reselling business. Create digital printables. You know, you can sell all kinds of things, checklists, guides, and spreadsheets. You can sell this on Etsy or you can do it through platforms like Stand Store or Beacons, which is what I use. Also, you want to monetize your content.

[00:15:53] Build YouTube and TikTok monetization to earn passive ad revenue from jewelry related content. Of course, that is what I'm doing here on YouTube. And then we have affiliate marketing. Partner with jewelry cleaning supply brands and antique appraisal services to earn commission. Now, I do do affiliate marketing here on the channel through Amazon. And that's really the only affiliate marketing I do as it relates to jewelry reselling.

[00:16:21] But there are a lot of other programs out there. Pretty much almost any company or big brand has an affiliate program. So if, you know, if this is something that interests you, I definitely recommend looking into it. Okay, so now ChatGPT also gave us an action plan for the next 30 days. And this is, okay, it's a four-week plan.

[00:16:49] All right, so let's see what ChatGPT says as it relates to what we need to do over the course of the next four weeks in order to improve our jewelry reselling business or to make more sales, right? Because that's really what the focus is. So ChatGPT says week one, we want to optimize our listings, update branding, and set up email marketing with a freebie.

[00:17:17] All right, so I know I can work on these. Optimizing my listings. I think my branding is fairly good, but there's probably some improvements that I could do as it relates to that. And then the email marketing with a freebie, I've already got that down. I just need to get better at creating the newsletter.

[00:17:40] All right, so week two is post daily TikToks and reels showcasing jewelry and add live selling to your routine. I think this is excellent. Now, when I first really got committed to my jewelry reselling, I was actually doing this. I was posting daily TikToks and reels. And I'm telling you, it really does help you grow.

[00:18:09] It helps you grow your online presence. It helps you grow your following. And ultimately, it does help you grow your reselling business. I can't tell you how many people would come into my live shows just because they saw my posts on social media. And for some reason, I kind of fell off track with that. And so I really need to get back into committing to posting daily on the socials.

[00:18:37] Now, it's so funny because I know some of you know I used to be a social media manager. Maybe you don't know. But I used to be a social media manager at the corporate level. And I used to manage five social media accounts. And we would post on all of those accounts daily. Like I would post 10, 20 posts on those accounts, each one daily. Now, of course, I had a team that helped me do it.

[00:19:04] But when I think about it, I think about why am I not doing that for my own stuff, right? Like why am I not doing that for my own accounts? Because if I could manage five accounts, I surely should be able to handle my one, right? And you can always batch record and you can schedule your posts out. So it doesn't have to be like a daily grind kind of thing. So I guess I'm sharing all of this because I'm trying to convince myself as much as I'm trying to convince you

[00:19:33] that posting daily really is a way to grow your business. Because the more that people know you, they like and trust you. But I also think there's that familiarity when people see you everywhere. And they know that you have good stuff. In our case, good quality jewelry. And that you're willing to do whatever you can to help them find the pieces, you know, that they're looking for and that they want. All right.

[00:20:02] So this has inspired me to kind of recommit myself into doing daily posts. All right. So week three, ChatGPT says source new inventory from alternative channels and network with vintage jewelry collectors. Now, I know the networking part could be a little bit intimidating. But remember, we can also do this online. There are a plethora of jewelry reseller groups.

[00:20:31] There's not even reseller groups, you know, specifically, but there's just so many jewelry groups on Facebook. You know, and you can really network with hundreds, maybe even thousands of people, you know, throughout the week. All right. And don't forget, we also have a Facebook group. I will link that in the show notes as well. But if you would like to network with me, you can do that in the group as well.

[00:20:58] So always be trying to improve your relationship building, your connections and your sourcing strategies. All right. Because I think that's where a lot of us get stuck. You know, it's hard to figure out what we need to do. Sometimes we really have to go above and beyond, and we may not necessarily feel ready to do that.

[00:21:26] But honestly, if you're going to win at this game, that's what it's going to take. That's what I have learned over the course of the years is you really have to be doing the things that nobody wants to do. Or you just have to do things a little bit better than the next person. And sometimes that could totally change the game. All right. Finally, ChatGPT says week four, launch a blog, Pinterest strategy, and test a digital product idea. All right. So I have done that with the podcast.

[00:21:55] And I'm going to talk about Pinterest in an upcoming episode. So make sure that you are subscribed and following. So when I do that, you'll receive the notification. But I think this is actually pretty good. What I'm going to do is I am going to copy this and I'm going to put it on the website under the blog.

[00:22:18] That way, if you would like to look at this, you'll be able to access this and you'll be able to copy and paste it, whatever. And you could follow this plan because I really think that this is a holistic plan in the sense that it's taking into consideration all the different aspects of a jewelry reselling business.

[00:22:40] Now, remember, if you ask ChatGPT this same prompt, you may get a little bit of a different response than what I got. Because remember, I have trained ChatGPT on what I'm interested in and what I'm doing. So it kind of already had a little bit of a memory to kind of build off of.

[00:23:02] But the more you use it, obviously, the more it's going to know you and it's going to know the type of information and the type of specifics that you're looking for. But honestly, I think this is an amazing plan. And I'm very impressed that ChatGPT kind of got this dialed in as accurately as it did.

[00:23:25] All right. So I think that it's definitely something that is worth looking into. Right. And it's something that I think you can even refine and change as you as you go. OK, so let me make sure there's not anything else I want to cover as it relates to this.

[00:23:50] Yes. And then ChatGPT said, would you like help refining any specific area such as marketing, digital income or sourcing strategies? Here's what I'm going to do. I'm going to put in.

[00:24:02] Yes. Please help refine the sourcing strategies, because I know that is the area that a lot of us feel stuck on. OK, so let's see what information it gives us.

[00:24:24] All right. So while ChatGPT is is answering the question. I do want to talk about, too, that even though I think ChatGPT is a great tool, it's obviously not going to replace running our business for us. I mean, that would be nice if it did.

[00:24:50] But I know a lot of people have mixed opinions about using AI or using ChatGPT specifically. And like I said, I don't think ChatGPT is a replacement for anything as it relates to your business, but it is a tool to help you do what you're already doing better, maybe faster, maybe more efficiently. All right. So. Learn how to use the tools that are available to you.

[00:25:19] And this is just the free ChatGPT version that I'm using. I'm not even using the paid version. All right. So. All right. It seems like ChatGPT has given us some info, so let's go over it. OK, to increase your profit margins and get high quality pieces, you need a multi-channel sourcing approach. Here's how to refine your strategy for consistent, profitable inventory acquisition. All right. This is good. This is juicy.

[00:25:49] So number one, ChatGPT says sourcing from local and in-person channels. All right. So I do do this. I probably could do it more and I can probably do it better. These sources allow you to inspect jewelry in person and negotiate prices. Estate sales and private buyouts. Search estatesales.net. All right. Local classified ads, Craigslist, Facebook Marketplace. Arrive early for the best selection.

[00:26:17] Leave your business card with estate sale companies. Sometimes they call sellers directly if they know a buyer. Now, this is something I need to do. I do have some business cards, but I do need to use them more because I don't. All right. Offer private buyouts. Let families know you buy vintage jewelry in bulk. Advertise on Nextdoor, Facebook or Flyers. All right. That's a great idea. Flea markets and antique bears.

[00:26:45] Visit vendors monthly and build relationships for first dibs on new stock. Negotiate better prices on bulk buys or unsold inventory. Look for underpriced signed pieces. And I think a lot of us do this already. Trafari, Wise, Napier. Thrift stores and pawn shops. Again, I think a lot of us already incorporate this into our sourcing plan or into our sourcing strategies. So, it says frequent small independently owned thrift shops.

[00:27:14] I do think that is key because sometimes if you go to Goodwill or Savers, you probably aren't going to find anything that I think is like fairly priced. Now, you can every now and again, but for the most part, it's kind of hit or miss. All right. Negotiate with pawn shops. I've never done that. Some give bulk discounts on outdated inventory. All right. Join loyalty programs for early access to new items. Okay.

[00:27:41] All right. Number two, according to ChatGPT, is sourcing from online and wholesale channels. These sources give you access to inventory without leaving home. Online auctions. And it says secret spots. HiBid.com. ShopGoodwill.com. eBay lots and mislisted items. Now, none of this stuff is quote unquote secret because I've shared all of these sites on the podcast before. But if you don't know, this is a great place to start. Also, live auctions.

[00:28:12] What not? Auction Ninja. E-B-T-H. I don't know what that one is. So, I'll have to research that. Also, wholesale and liquidation. Jewelry estate sales. Bulk jewelry lots on eBay. Poshmark Macari. We've talked about that. And direct from vintage dealers. And I've talked about this too. Search Ruby Lane, Cherish, and First Dibs for jewelry dealers willing to sell wholesale. All right.

[00:28:39] So, now the thing is about some of these secret strategy, sourcing strategies is you need to have the capital to make these bulk buys, right? All right. So, you've got to figure out how you can budget for this because when you come across something, you want to have the money in order to take advantage of the deal. All right.

[00:29:06] And I think that's where a lot of us get stuck because, you know, we may not have one, two, three, four, five thousand, even more lying around. All right. So, you've got to figure out how you can put this money aside so you have it available, right? Do you have a business savings? Do you have a business credit card? I don't recommend that. But I do know people where that has worked, where they have a business credit card with a nice juicy line of credit.

[00:29:36] And so, when they find these deals, they just put it on the credit card. But, you know, you want to make sure you can pay it off. All right. So, think about how you can make this work for you. How can you have the capital in order to invest in your business in this way? All right. Number three, according to ChatGPT, is creative sourcing strategies. All right. Networking. We've talked about that with antique dealers and other resellers.

[00:30:03] Directly contacting retired jewelers and estate executors. All right. It says, reach out to elderly communities. Some retirees sell off personal collections or family estates. All right. Now, I think that's a good idea. But exactly, you know, how would you approach that? I don't know if I would just, you know, approach, you know, an elderly community and say, hey, can I buy your jewelry? But maybe it works. Maybe somebody has done it.

[00:30:31] And that's why ChatGPT is recommending it. All right. Find local estate attorneys and let them know you buy jewelry from estates. Okay. I think that's good, too. I do know people that do that. And a lot of connections are made at the jewelry shows. I've talked about that, too. Especially the antique jewelry and watch show. I can't tell you. When I went last year, it was all about making the deals. I mean, it was all about, you know, meeting people and saying, hey, yes, I would like to, you know, buy this, this and that.

[00:31:00] So those jewelry shows are really a good place to meet people to make these kinds of deals. Consignment and buyback programs. All right. Set up a sell your vintage jewelry page on your website. That's a great idea. Offer store credit or cash incentive for people who sell their old jewelry to you. Now, that's another creative idea. So, you know, I may incorporate that because I think, yeah, why not put the word out there?

[00:31:29] You know, because I've even seen people post signs like all over my neighborhood where they say, you know, like they say, we buy houses. We buy junk. That type of thing. So I think that's a good idea. I need to put a I buy jewelry. I buy jewelry post somewhere. All right.

[00:31:53] So number four, according to chat GPT, negotiation and pricing tips always offer lower than asking price. Many sellers expect negotiation bundle purchases to get bigger discounts. All right. That makes sense. And look for neglected items. Dirty, tangled, tarnished jewelry often sells for less, but cleans up beautifully. That is so true. I can't tell you how many times I've used that strategy to find pieces that I want to sell. Okay.

[00:32:21] So chat GPT says next steps for you. Make a sourcing calendar to visit thrift stores, estate sales and flea markets regularly. Number two, set a monthly sourcing budget and test one to two new online sources. All right. Number three, start networking with estate liquidators and antique dealers to get first access to inventory. And number four, consider a private buyout strategy.

[00:32:50] Offer to purchase jewelry collections directly from the public. I love these ideas. All right. Now, this is some stuff that I hadn't even really thought about, but you know how sometimes you're aware of something, but you just don't actually kind of think about the feasibility and how you can make it work. But this actually is, I feel like this is actually doable. Like this is something I could do.

[00:33:18] This is something I can plan. And this is something that I can make work for me and my business. So I'm actually really excited about this. Okay. So that is what we got as it relates to, as it relates to asking chat GPT, how can I, how can I make my business better? How can I sell more jewelry? How can I source better? All of those things.

[00:33:47] All right. So this was a fun little experiment. And I, you know, I invite you to try it. You know, maybe you type something into chat GPT as it relates to your business and see what kind of response you get. And are the things that chat GPT tells you, things that you actually can implement, things that you can actually do and take advantage of, or maybe even start today. All right.

[00:34:15] Remember, chat GPT is a tool and it is here to help us do what we do better. But like I said, it's not a replacement for anything. But it definitely helped me expand my thinking. And it really helped me see that it's not as overwhelming as I felt it was. Because I was kind of, you know, feeling like I was hitting a little bit of a wall as it relates to my sourcing. You know, I'm out there just like all of you trying to figure this out and make it work.

[00:34:44] But I kind of, you know, have the same hurdles and challenges that we all talk about and that we all, you know, get frustrated with as time goes on. All right. So I think that some of the strategies chat GPT gave us today are, like I said, right on the money. I do believe that the plans and the suggestions definitely can and will work if you're willing to go ahead and implement them. All right.

[00:35:13] So remember, I am going to copy and paste everything. And I will put that on the website, jewelry resellers podcast.com. And I will put it under the blog tab. That way, if you want to see it and if you want to copy it, you can do that. All right. So that's going to be it for this episode. I hope you enjoyed. I hope you had fun. And I hope you learned a thing or two.

[00:35:36] If you have any other ideas of topics that you may want me to cover here on the podcast, feel free to leave me a comment. You can do that right below this video. Or you can also do it on Spotify because Spotify has a comment section now, which I think is really cool. You know, you're listening to the audio version. All right, jewelry friends. Thank you so much for spending this time with me. And I'll check in with you again really soon.