In 1956 Vern Farr opened Farrs Jewelry in downtown Ogden, Utah. Through the years the business has grown and a store was added in Idaho Falls, Idaho. Vern Farrs philosophy has been simple-- offer high quality merchandise, with knowledgeable, friendly service, at the best possible prices. How has Farrs Jewelry been able to achieve these objectives? Farrs Jewelry owns both the Utah and Idaho buildings and the land upon which they are located. Farrs Ogden, Utah location, is on the same block it has been for forty-four years. By owning their own property the overhead is minimized. Most stores have fancy, expensive stores with high mortage or rental payments, or they are in malls with payments frequently in the hundreds of dollars per square foot! That overhead is charged to the customer by way of higher prices. Not so with Farrs Jewelry!
But, some will ask: Arent chain stores able to buy at better prices? What if a competitor claims to have flown to Antwerp to select the diamonds themselves? Surely Farrs cant buy as at rates as low as chain stores?
Lets examine the aspects of diamond buying. Nearly half of the worlds gem-quality rough diamond market (mining, sorting, and distribution)is controlled by one company-- DeBeers. An arm of DeBeers-- the Central Selling Organization-- handles over 14 tons of rough diamonds per year and sorts these diamonds into over 5,000 different category grades. From here the rough is sold to manufacturers known as sightholders. There are usually less than 200 sightholders, and they may purchase by invitation only. The sightholders are at the top of the food chain for diamond buying. No matter who you are, or how many chain stores you have, you cannot purchase better than a sightholder. Sightholders may resell the rough which they have purchased to cutters, who may in turn sell them to distributors, or retailers, or sightholders may cut the diamonds themselves and sell them directly to select retailers. Farrs Jewelry buys most of their diamonds directly from sightholders. This means that Farrs Jewelry buys at the top of the diamond pricing food-chain. No one can buy better. Some may buy at prices equal to the deals Farrs can get, but usually such competitors have higher overhead and therefore must charge higher prices to the consumer. Farrs Jewelry gets the best buys, and offers that savings to the consumer because of low overhead.
If you live in Utah or Idaho, come into a Farrs Jewelry and let us show you our quality goods and teach you how to see the difference in quality so you can see the values we offer. We have financing available on approved credit too! If you don't live near a Farrs Jewelry simply call one of the phone numbers above or email us for any help with your fine Jewelry needs. Please check us out on our Facebook site to see what is currently happening in our stores!