Page 10 of Spark (Lust & Luster)

“It varies. Some of these pieces are more intricate and will need to be made in sections, so that would be longer. We can also make the more intricate designs all by hand, like that last design.”

The last page shows a signature piece that has fifteen teardrop green peridots, with blue topaz and amethyst accents in yellow gold. The necklace fans out when worn, and I want desperately to make it one day.

Suzanne gasps. “I love it.”

“Thank you. These designs aren’t like anything they’ve ever seen.

I cut the stones myself, so I know how to get the most perfection out of each one.

This piece could easily sell for two hundred thousand dollars, with all semiprecious stones.

But at that price point, I don’t expect that we’d sell but two or three. ”

Suzanne scrutinizes me. “If you’re going mass market, how are you going to be able to keep up with stonecutting?”

“I plan on continuing to cut my own stones, but I also know there are amazing gemcutters who can produce brilliant semiprecious stones. My goal is to cut the precious stones, and we can purchase cut semiprecious stones. We can get ethically sourced but inexpensive stones as long as we tend to buy in bulk.”

Ray flips to the financial pages. “What exactly does bulk mean?”

“We’re looking at purchasing roughly a million dollars of peridot, pink sapphires, amethyst, yellow topaz, and blue aquamarines for the designs you’re looking at there.

It should make better than a thousand pieces, which would retail for close to four million dollars.

But keep in mind, that is raw materials.

The cost of labor and metal prices will also go in.

Precious stones will also add to the production costs. ”

“Have you considered how you’re going to mass produce?” Ray asks as he tiptoes into the financial side.

“Currently, down in South San Francisco, there’s a location that at one point was used for high-end costume jewelry production.

It’s in a building with smelters on the ground floor, so ventilation is up to code.

It’s been shut down for a few months, but if we pay a good wage, we’ll get the people who know how to use these machines to come back, and production can begin quickly. ”

“And is that machinery everything you need?” Ray asks.

“Under tab six you’ll note that I took photos of the location, and I have information from the real estate developer.

The owner is willing to rent it to me and allow me to try before I buy.

That way, if any of the machinery needs repair, he’ll make sure it’s done, and I can be sure I’m comfortable with the location and the quality of their machinery.

Each of the pieces I’ve highlighted in my presentation were chosen because they can be produced on the existing machinery.

For a few other more complex designs, I’ll have to purchase additional machines. ”

We don’t do it exactly in order, but we work our way through pretty much the entire presentation by the time we’re done with our conversation.

“Who are your competitors?” Suzanne asks, as almost an afterthought.

“Well, certainly there are the big jewelry houses. But there’s also a new player on the block, and I don’t want to discount them.”

Suzanne looks up at me. “Who are they?”

“Currently the name is Luster, and they have five million dollars in funding from SHN.”

Ray looks at Suzanne, and she smiles. “What do you know about them?”

I realize sharing what I know could mean Benchmark will choose not to fund me, but if I’m not honest, they can’t help me for sure.

“As I understand, it’s four brothers who inherited a diamond mine up in northern Nevada.

They will be purchasing all their own cut precious stones from various retailers. ”

“Is there an advantage to doing that?” Ray asks.

“I think in the semiprecious world, it depends on the seller. But with precious stones, you can build your own cut. Think of a Tiffany diamond, or the Cartier cushion diamond. In their world, buying everything precut helps because good gemcutters are loyal and hard to find. But they’re also depending upon other people to produce for them, and they pay a premium for that. ”

Both Suzanne and Ray seem to be listening intently, so I continue.

“Luster is also not doing anything other than standardized settings, so there’s nothing necessarily remarkable about what they have.

They have their own diamond mine, but there’s no telling if that vein is going to produce diamonds worthy of jewelry or only those that can be sold to companies who use the diamond for tips and cutting. ”

“How do you think they’ll be successful?” Ray asks.

I sit back and I think about it for a good, long while.

“I think their business plan is sound. Sometimes, I think, people like to buy direct, rather than from a middleman like going to the jewelry store in the mall. I also think Luster will have a very competitive price point, which is the reason they’re going with more standardized settings. ”

“How do you think you’ll compete with them?” Ray asks.

“They’re a little ahead of me, and they have excellent funding.

But I do think I have the advantage of unique settings, and I’m not trying to go head-to-head with them in the diamond world.

While I will have an engagement ring line, that isn’t going to be my bread and butter.

As I see it, people only buy one maybe two wedding rings in their lifetime, but people buy good-quality jewelry all the time.

I want to offer them quality— unique, but timeless pieces that have a customer coming back over and over. ”

Suzanne rises, extending her hand again. “I’ll be in touch soon.”

I thank them both, sliding my presentation back into my bag with steady hands.

It’s only once I step out into the bright California sun that I let my shoulders relax.

The meeting went well—better than I dared hope.

There’s still no guarantee, but for the first time in a long time, I can see the path ahead, and I’m ready to sprint down it.