Pattivs prices are close to those normally provided to the trade. Diamonds are bought in quantity, directly from cutters. Pattivs also manufactures much of its jewelry, bypassing multiple markups.
At Pattivs, aggressive pricing attracts a far larger volume of sales. Even though the margins are very small, the total is good in the end.
Pattivs clientele tend to be high income but are also ‘smart shoppers’. They demand the very best but insist on good value.
Pattivs vs Conventional Retail
Traditional retailers charge double or triple their cost, (this is called “keystone” or “triple Keystone” in the industry) When buying from a retailer, at best; half of what you are paying for is store profit. Pattivs works on a small ‘brokers’ margin.
Pattivs also buys well below normal wholesale prices. This allows us to often sell below the traditional store’s replacement cost. Pattivs gets large discounts by buying in quantity, and paying hard cash. Most retail stores have a hard time covering the rent, let alone paying hard cash for volume purchases. Pattivs has cash resources independent of the store, and owns their entire inventory outright.
Most retailers cannot afford to purchase multiples of similar diamonds typically in a cutters ‘parcel’. Most retailers purchase diamonds through middlemen that provide exactly what is needed and give extended credit terms.
Retailers often receive much of their stock by consignment; thereby payment is required only after each item is sold. Vendors willing to ‘consign’ inventories charge much higher prices than cash sellers, but the retailer with limited cash has no choice.
Conventional stores selling at retail will attract only their ‘share’ of the customers willing to pay retail. Large margins must be made just to stay in business.
Mark & Pat Fernwood. Mark is an accomplished artist as well as a goldsmith, which offers a great advantage in designing jewelry. His paintings decorate the walls of Pattivs. Mark also has an engineering background allowing him to design jewelry that is as wearable as it is beautiful.
Pat has over 19 years of experience in fine jewelry sales and jewelry design. She has a background in psychology, which has often proved useful as emotional situations can surround jewelry.
History of Pattivs
Pattivs was founded in 1989 to provide wholesale direct pricing to the public. The owners, Mark & Pat Fernwood believed that dramatically lower pricing with superior selection would attract a disproportionate number of high-end customers. This has proved to be a very successful combination.
Mark is an owner of a leading dental manufacturing company, which provides the resources to fund an unusually large inventory. This also allows purchasing in quantity directly from cutters. Mark also has reduced Pattivs overhead by his ownership the commercial building in which Pattivs is located.