ORE Jewellery were a retailer of imported mass market jewellery selling a wide range brands. They operated mainly from kiosks located in malls in Christchurch and Auckland but also had a strong online sales presence both through their own online store and via social media. They were placed into liquidation in October of 2018 leaving the liquidators with a significant stock of jewellery and watches. The liquidators approached Skylarc for options around the sale of the stock and also a small number of shop assets.
The Process
The assets were of a retail quality and there was over 1000 items that needed to be sold. In order to maximise the return on these, Skylarc proposed a “buy now” event followed by a $1 reserve clearance for the left over stock. The buy now event listed all of the jewellery on Trade Me with a buy now price at 50% of its retail sale price, this was generally significantly more than its cost price. Each piece of jewellery was photographed in a custom made jewellery photo booth to provide the highest quality listings possible. Skylarc’s I.T. team linked these photos to ORE’s own retail stock database to pull the descriptions and information for each item from ORE’s systems into Skylarcs for display on Trade Me. The remaining product was listed via a $1 reserve sale immediately afterwards.
Marketing
Skylarc marketed the event primarily on Facebook. Skylarc took over management of ORE’s Facebook page which had in excess of 35,000 followers and used it and it’s own Facebook presence to market the event. A landing page was setup on Skylarc’s website that provided information about the event and directed buyers to the Trade Me listings. This was highly successful with over a thousand likes on the post and a significant amount of traffic to the landing page and on to the Trade Me listings.
The Result
The buy now event ran for a week and sold around 25% of the total stock. The $1 reserve event ran for a second week and sold the remaining stock. In total over 1200 lots were sold in 4 weeks.
