Posts Tagged ‘discount’

It’s beginning to look a lot like Berkshire!

Thursday, April 27th, 2017

This is a picture from a few years back, but I feel like we’re getting there at Borsheims! No shareholders sporting passes around their necks yet, but I was just on the sales floor and things are definitely starting to look Berkshire-ready.

Let me give you a little tour of how things are shaping up at Borsheims.

The gift gallery is quickly filling with new and exciting pieces. These sculptures and home decor by Michael Aram are stunning. The gold is absolutely beautiful and check out one of our favorite pieces:

It’s Icarus – known for flying too close to the sun. He’s displayed in front of a gorgeous painting by Michael Aram. It’s worth checking out in person.

Our Judith Leiber purses are elegantly squeezed into the display case so we can fit the most in for our shareholders. I love this frog prince.

The gift gallery isn’t getting all the attention. We have a new area in the store designated for Monica Rich Kosann jewelry. It’s become a fast favorite among customers.

My favorite Monica Rich Kosann pieces are the lockets. They’re lovely – not too flashy but absolutely perfect.

The sales floor is ready and we’re packing in more jewelry by the day, with some of the biggest and most amazing pieces arriving next week just in time for shareholders. You can beat the rush and shop now, and don’t forget the Berkshire Hathaway shareholders discount period starts on Monday at Borsheims!

Berkshire Hathaway Shareholder Discount Starts… Now!

Monday, April 28th, 2014

It’s time, dear shareholders!

Your Berkshire Hathaway shareholder credential gets you an extra amazing deal at Borsheims now through next Saturday (May 10th).Credentials

All you need to do is bring your credential with you to Borsheims when you come in to shop.

You can also call and talk to an associate over the phone if you are out of town.

The shareholder discount period at Nebraska Furniture Mart begins tomorrow (Tuesday) and runs through Monday, May 5th.

See you soon!

Old Letter from Warren Buffett about Jewelry Resurfaces

Thursday, April 24th, 2014

A letter Warren Buffett wrote 25 years ago, shortly after Berkshire Hathaway purchased Borsheims, is resurfacing.

We love it when the internet works like that!

The letter details why Borsheims is able to offer such incredible deals on such amazing jewelry. We have seen it in the last few weeks on some jewelry industry websites and some investing related websites.

And while the letter itself is old, the information it contains is still relevant. At Borsheims, we are still able to offer our customers the best prices because of the way our particular business is set up. Here’s an excerpt from Warren Buffett’s letter that explains how it works:
To begin with, all jewelers turn their inventory very slowly, and that ties up a lot of capital. A once-a-year turn is par for the course. The reason is simple: People buy jewelry infrequently, and when they do, they are making both a major and very individual purchase. Therefore, they want to view a wide selection of pieces before zeroing in on a single item.

Given that their turnover is low, a jeweler must obtain a relatively wide profit margin on sales in order to achieve even a mediocre return on their investment. In this respect, the jewelry business is just the opposite of the grocery business, in which rapid turnover of inventory allows good returns on investment though profit margins are low.

In order to establish a selling price for their merchandise, a jeweler must add to the price they pay for that merchandise, both their operating costs and desired profit margin. Operating costs seldom run less than 40% of sales and often exceed that level. This fact requires most jewelers to price their merchandise at double its cost to them or even more.

The math is simple: Jewelers charge $1 for merchandise that has cost them 50 cents. Then, from their gross profit of 50 cents they typically pay 40 cents for operating costs, which leave 10 cents of pre-tax earnings for every $1 of sales. Taking into account the massive investment in inventory, the 10-cent profit is adequate but far from exciting.”

At Borsheim’s the equation is far different from what I have just described. Because of our single location and the huge volume we generate, our operating expense ratio is usually around 20% of sales. As a percentage of sales, our rent costs alone are fully five points below those of our typical competitor. Therefore, we can, and do, price our goods far below the prices charged by other jewelers. In fact, if they priced to match us, they would operate at very substantial losses. Moreover, in a virtuous circle, our low prices generate ever-increasing sales, further driving down our expense ratio, which allows us to reduce prices still more.

How much difference does our cost advantage make? It varies by competitor but, by my calculation, what costs you $1,000 at Borsheim’s will, on average, cost you about $1,350 elsewhere. This is called the “Borsheim’s Price”. There are very few instances where we are unable to offer you those great savings due to restrictions, but you will always know upfront if an item is non-discountable.

Our “shop-at-home” program brings Borsheim’s to our qualified customers. Simply contact Borsheim’s to describe what you’re looking for – to any degree of detail. We will assemble selections that best reflect your wishes and send them to you. Then, in the comfort of your own home or office, you can conveniently and leisurely select the item(s) you most prefer, or return the entire selection. Our results from this “shop-at-home” program have been amazing. Customers have loved it and keep coming back for more. Each year, we send out several thousand packages, ranging in value from $100 to $500,000.”

I can remember well how helpless I used to feel in a Fifth Avenue or Rodeo Drive jewelry store, where the only thing I knew for sure was that the operator had extraordinarily high overhead– and that they had to cover it in their sales priceI was also wary of the ‘upstairs’ solo operator who operated on consignment merchandise, since that would have cost them more than merchandise bought outright, and would necessarily have inflated their retail price.”
Pretty cool, no?

The Borsheims price is a great deal. So imagine how crazy of a deal you are getting with the Berkshire shareholder price! If you plan to buy any jewelry, watches or fine gifts any time soon, you should buy it next week during the Berkshire Hathaway shareholders discount period. You will save a lot of money.

Reminder: Jewelry Deals Available ONLY at CenturyLink Center Tomorrow

Friday, May 3rd, 2013

We have mentioned this before but it bears repeating.

Borsheims has special deals on jewelry available ONLY at the CenturyLink Center during Saturday’s Berkshire Hathaway annual shareholders meeting. These deals are impressive! They are gorgeous pieces of jewelry available at prices that are ridiculously low.

And we have something for everyone!

From a set of three pearl bracelets for $20 to 2 carat diamond stud earrings for $9,900, we have a big selection of jewelry that you can proudly take home in our signature silver box with the burgundy ribbon.

Check out all the deals in this slideshow:

2013 Berkshire Hathaway Memorabilia

Thursday, May 2nd, 2013

We are so thrilled at Borsheims to be one of just a few Berkshire Hathaway companies to offer the official Berkshire Hathaway memorabilia. It is a responsibility that we have a lot of fun with!

This year, I especially love our zip drives that look like a tiny cartoon Warren Buffett and Charlie Munger. Their legs come off to reveal the USB port. Aren’t they cute?!? They’re $16!

Warren Buffett, Charlie Munger, USB Port, Berkshire Hathaway

Remove Warren Buffett or Charlie Munger’s legs to

access the USB Port

We have so many other fun gifts to remember the 2013 Berkshire Hathaway annual shareholders meeting. Take a look at this video to see all our new memorabilia, returning memorabilia and some of the special jewelry we will be selling at amazing prices – but only at the CenturyLink Center during Saturday’s annual meeting.

And one note to answer a question we have already received. There is no Christopher Radko commemorative ornament this year. It’s a favorite with some of our shareholders, but didn’t fit in with the theme this year. We think it will make a return next year, and in the meantime, we have a few Radko ornaments left from past years.

Chihuly Art, Giant Dandelion Await Berkshire Hathaway Shareholders

Wednesday, May 1st, 2013

Our gift gallery at Borsheims is quickly filling up with beautiful and unique creations flown in just for Berkshire Hathaway shareholders.

They range from the well-known, like the Chihuly Art Glass….

This Dale Chihuly art glass sculpture is at Borsheims and retails for $7,000.

This Dale Chihuly art glass sculpture is at Borsheims and retails for $7,000.

To the unusual and beautiful, like this Michael Aram dandelion standing six feet tall.

This Michael Aram Dandelion is six feet tall and retails for $4,000.

You could spend an entire day learning about the different artists whose work we have on display. At the very least, we hope you’ll spend a few minutes wandering through our gift gallery and seeing what catches your eye.

And remember, Berkshire Hathaway shareholders get a discount on all these items – a price better than you can find anywhere else!

Berkshire Hathaway Shareholders: Ready, Set, Shop!

Monday, April 30th, 2012

Your discount starts… now!

At least at Borsheims it does! Berkshire Hathaway shareholders can get special Berkshire pricing on almost everything in our store from now (Monday, April 30) through next Saturday, May 12. Just bring your shareholder credential in with you and show it to your salesperson to get your special pricing.

The shareholder credential will also get you discounts at Nebraska Furniture Mart (Omaha location only). Their discount period begins tomorrow (Tuesday, May 1) and runs through Monday, May 7.

It’s a great time of year to buy in Omaha!

Judith Leiber: Jeweled Handbags

Sunday, May 2nd, 2010

Hello Weekenders,

Judith Leiber handbagsEvery year at Borsheims we welcome many of our jewelry designers and vendors to visit the store during the Berkshire Weekend. That way, as a shareholder, you have the chance to meet and chat with some of the best jewelry designers in the world. Each of these special vendors brings along thousands of exquisite pieces that will be on display exclusively during the Berkshire Shareholder’s Weekend.

I take a lot of photos of these stunning, special pieces and I will be sharing them this year in a series of posts Dazzling Gift Handbaghighlighting different jewelry vendors that have come to the 2010 shareholder’s meeting. In this post, I wanted to share some photos of the amazing Judith Leiber collection of jeweled handbags and pillboxes that we have on display this weekend. You may know Judith Leiber’s work from the Sex and the City movie, which featured a be-jeweled cupcake minaudiere. Judith Leiber pieces are always something special to see at Borsheims, but during the shareholder’s weekend we receive some exceptional pieces.

What is your favorite? The jewel-encrusted tomato, the black cat, the present? See more photos of fabulous handbags in this Judith Leiber photo set.

Hope you’re having fun,

The Borsheims Team