Randy Coffin is the President of Coffin & Trout Fine Jewelers. Randy has worked in the industry of jewelry design and craftsmanship for many years. He started out as a bench jeweler in 1975. He was inspired to start his jewelry career from an early exposure to fine arts, and an interest in using his God-given talents to design and create amazing works of art. Randy and his business partner David Trout met in 1979. They had an instant connection as they noticed similarities in each other’s beliefs on what jewelry could be.
In our conversation today, we get into construction, customer service, and a myriad of other tips on running a jewelry business.
Listen in as Randy discusses how to build a strong reputation in the jewelry industry, what he looks for in a diamond, working and nurturing trust with suppliers and customers, his passion for colored gemstones, and how he takes a client’s vision from idea to reality.
- 04:06 How to become an expert in grading a diamond
- 08:14 What it means to “sell jewelry on consignment”
- 10:28 Building a strong reputation to gain the trust of suppliers in the jewelry industry
- 12:17 What Randy looks for in a diamond
- 18:54 Natural versus lab-created diamonds
- 22:34 Building a jeweler’s supply chain
- 25:52 How Randy developed a trustworthy reputation in the business
- 29:04 How Randy evaluates potential suppliers
- 36:12 Creating long-term relationships with your customers
- 37:41 Going above and beyond as a business owner
- 40:41 Randy’s process from meeting the customer to delivering the final product
- 50:17 How Randy keeps his staff happy
- 53:52 Working with prestige companies like Rolex to acquire custom pieces for clients
- 56:43 Randy on his passion for charity
- 59:09 Randy talks about a few unique pieces he brought in
Connect with Coffin & Trout Fine Jewelers:
Connect with Brad Leavitt:
- Gemological Institute of America
- Standard Jewelry Abbreviations
- J.B.T (Jewelers Board of Trade)
- AGTA Spectrum Awards
- Somewhere in the Rainbow
- Crescendo Blue Sapphire and Diamond Pave Platinum Ring
Key Quotes by Randy:
- It’s not always the most expensive diamond that stands out.
- I don’t have any problems with lab-created diamonds; but I’d just say, “Buyer beware.”
- Be consistent and follow the practices that you would want others to follow. Go above and beyond.
- One of the value-adds for me and my business, and one of the things that I’ve enjoyed more than anything else, is that whole customer relations thing. I’ve met more people than I can tell you that I’d either gone to dinner with, in many cases traveled with, or gone to their homes in another state, or fly-fished with. I’ve made more friends in my business than outside my business by far.